SCARLETT LAND & DEVELOPMENT LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC569974 (Scotland)

SCARLETT LAND & DEVELOPMENT LIMITED

Unaudited Financial Statements

for the Period

29 June 2017 to 30 September 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

W D Scarlett

REGISTERED OFFICE:

9 Ainslie Place

Edinburgh

EH3 6AT

REGISTERED NUMBER:

SC569974 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

Clydesbank Bank

83 George Street

Edinburgh

EH2 3ES

FIXED ASSETS

Tangible assets

4

1,817

CURRENT ASSETS

Debtors

5

4,360

Cash at bank

195,058

199,418

CREDITORS

Amounts falling due within one year

6

106,907

NET CURRENT ASSETS

92,511

TOTAL ASSETS LESS CURRENT LIABILITIES

94,328

PROVISIONS FOR LIABILITIES

345

NET ASSETS

93,983

CAPITAL AND RESERVES

Called up share capital

8

11

Retained earnings

93,972

SHAREHOLDERS' FUNDS

93,983

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 9 January 2019 and were signed by:

W D Scarlett - Director

1.	STATUTORY INFORMATION

SCARLETT LAND & DEVELOPMENT LIMITED is a private company, limited by shares , registered in

Scotland. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced property commission, excluding value added tax.

Revenue is recognised when the service has been provided and all obligations to the customers

under the agreement have been fulfilled.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income

or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the period end and

that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and

subsequently measured at their settlement value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

2,712

At 30 September 2018

2,712

DEPRECIATION

Charge for period

895

At 30 September 2018

895

NET BOOK VALUE

At 30 September 2018

1,817

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

2,946

Other debtors

1,414

4,360

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

62,891

Other creditors

44,016

106,907

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

£

Within one year

2,571

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

10

Ordinary A

£1

10

1

Ordinary B

£1

1

11

The following shares were allotted and fully paid for cash at par during the period:

10 Ordinary A shares of £1 each

1 Ordinary B shares of £1 each

The A ordinary shares have full rights in the company in all respects and rank pari passu. The B

ordinary shares carry dividend rights only.

9.	RELATED PARTY DISCLOSURES

During the year the shareholders received total dividends of £56,340.