Ingliston Events Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC393621 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

INGLISTON EVENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTOR:

P F Fraser

REGISTERED OFFICE:

16 Royal Terrace

Glasgow

G3 7NY

REGISTERED NUMBER:

SC393621 (Scotland)

ACCOUNTANTS:

Davidson & Workman

16 Royal Terrace

Glasgow

G3 7NY

BANKERS:

Handelsbanken

Suite A

3rd Floor

133 Finnieston Street

Glasgow

G3 8HB

FIXED ASSETS

Tangible assets

4

481,307

155,876

Investments

5

560,545

560,545

1,041,852

716,421

CURRENT ASSETS

Debtors

6

614,322

670,829

Cash at bank

12,333

8,193

626,655

679,022

CREDITORS

Amounts falling due within one year

7

454,936

110,098

NET CURRENT ASSETS

171,719

568,924

TOTAL ASSETS LESS CURRENT LIABILITIES

1,213,571

1,285,345

PROVISIONS FOR LIABILITIES

8

12,891

721

NET ASSETS

1,200,680

1,284,624

CAPITAL AND RESERVES

Called up share capital

9

1,281,252

1,282,250

Retained earnings

10

(80,572

)

2,374

SHAREHOLDERS' FUNDS

1,200,680

1,284,624

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 14 August 2019 and were signed by:

P F Fraser - Director

1.	STATUTORY INFORMATION

Ingliston Events 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The financial statements are prepared in sterling, which is the functional currency of the company.

Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

life:

- Improvements to Land 2% On Cost

- Plant & Machinery 25 % On Cost

- Fixtures & Fittings 25% On Cost

Taxation

Taxation for the year 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 year 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.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine

whether there is any indication that those assets have suffered an impairment loss. If any such indication exists,

the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the

recoverable amount of the cash generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the

estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current

market assessments of the time value of money and the risks specific to the asset for which the estimates of future

cash flows have not been adjusted.

If the recoverable amount of an asset (or cash generating unit) is estimated to be less than it's carrying amount,

the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment

loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which

case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to

apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash generating

unit) is increased to the revised estimate of its recoverable amount but so that the increased carrying amount does

not exceed the carrying amount that would have been determined had no impairment loss been recognised for the

asset (or cash generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit

or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss

is treated as a revaluation surplus.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Imprvmts

Plant and

and

to land

machinery

fittings

Totals

£

£

£

£

COST

At 1 January 2018

157,686

-

6,414

164,100

Additions

269,629

86,856

-

356,485

At 31 December 2018

427,315

86,856

6,414

520,585

DEPRECIATION

At 1 January 2018

5,417

-

2,807

8,224

Charge for year

8,438

21,714

902

31,054

At 31 December 2018

13,855

21,714

3,709

39,278

NET BOOK VALUE

At 31 December 2018

413,460

65,142

2,705

481,307

At 31 December 2017

152,269

-

3,607

155,876

5.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 January 2018

and 31 December 2018

560,545

NET BOOK VALUE

At 31 December 2018

560,545

At 31 December 2017

560,545

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Amounts due from associated companies

581,756

667,005

VAT

32,566

3,824

614,322

670,829

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

118,834

-

Other creditors

162,374

62,025

Amounts due to associated companies

134,095

10,700

Director's curr accs less 1yr

37,932

36,934

Accrued expenses

1,701

439

454,936

110,098

8.	PROVISIONS FOR LIABILITIES

31.12.18

31.12.17

£

£

Deferred tax

12,891

721

Deferred

tax

£

Balance at 1 January 2018

721

Charge to Income Statement during year

12,170

Balance at 31 December 2018

12,891

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

1,250,002

Ordinary

1

1,250,002

1,282,250

31,250

B Ordinary

1

31,250

-

1,281,252

1,282,250

10.

RESERVES

Retained

earnings

£

At 1 January 2018

2,374

Deficit for the year

(82,946

)

At 31 December 2018

(80,572

)

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2018 and

31 December 2017:

31.12.18

31.12.17

£

£

P F Fraser

Balance outstanding at start of year

-

-

Amounts repaid

(36,934

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(36,934

)

-

12.	RELATED PARTY DISCLOSURES

The director's loan includes an amount due to the director and controlling shareholder, Mr P Fraser, at 31

December 2018 of £37,932 (2017: £36,934). This amount is interest free and has no fixed repayment date.

Amounts due from associated companies includes an amount of £439,751 due from Ingliston Equestrian Centre

Limited, a company under common control (31 December 2017 - due from £635,826).

Amounts due from associated companies includes an amount of £129,365 due from Ingliston Lodges Limited, a

company under common control (31 December 2017 - due to £700)

Amounts due from associated companies includes an amount of £12,640 due from Colonial SA, a company

under common control (31 December 2017 - due from £12,640).

Amounts due to associated companies includes an amount of £10,000 due to Ingliston Country Club Hotel

Limited, a company under common control (31 December 2017 - due to £10,000).

Amounts due to associated companies includes an amount of £162,374 due to Fraser Family Partnership, a

limited partnership which is controlled by Mr P Fraser, the director (31 December 2017 - due to £62,025).

Amounts due to associated companies includes an amount of £124,095 due to Ingliston Country Club Limited, a

company under common control (31 December 2017 - due from £18,539).

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P F Fraser.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Ingliston Events Limited for the year ended 31 December 2018 which comprise the Income

Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Ingliston Events Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ingliston Events Limited and state those matters that we have agreed to state to the director of Ingliston Events Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Ingliston Events Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ingliston Events Limited. You consider that Ingliston Events Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ingliston Events Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Davidson & Workman

16 Royal Terrace

Glasgow

G3 7NY

14 August 2019