E-RESERVE HOLDINGS LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC587667 (Scotland)

Unaudited Financial Statements

for the Period

2 February 2018 to 31 July 2019

for

E-RESERVE HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A M Richardson

REGISTERED OFFICE:

6 Logie Mill

Edinburgh

EH7 4HG

REGISTERED NUMBER:

SC587667 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Tangible assets

4

19,603

Investments

5

422,808

442,411

CURRENT ASSETS

Debtors

6

58,847

Cash at bank

66,893

125,740

CREDITORS

Amounts falling due within one year

7

2,849

NET CURRENT ASSETS

122,891

TOTAL ASSETS LESS CURRENT LIABILITIES

565,302

PROVISIONS FOR LIABILITIES

8

2,274

NET ASSETS

563,028

CAPITAL AND RESERVES

Called up share capital

9

200

Retained earnings

10

562,828

SHAREHOLDERS' FUNDS

563,028

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2019 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director on 31 October 2019 and were signed by:

A M Richardson - Director

1.	STATUTORY INFORMATION

E-RESERVE HOLDINGS 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 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 as modified by the revaluation of certain assets.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is

provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual life, of each

asset on a straight-line basis over its expected useful life, as follows:

Motor vehicles

-

20% per annum

Residual value represents the estimated amount which would currently be obtained from disposal of an asset,

after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at

the end of its useful life.

Investments in subsidiaries

Investments in subsidiaries are measured at cost less impairment. Cost is measured by reference to the nominal

value of the shares issued plus fair value of other consideration.

Impairment

Assets and investments in subsidiaries not measured at fair value are reviewed for any indication that the asset

may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the

asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount

exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a

revalued amount where the impairment loss is a revaluation decrease.

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 date.

Taxation

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

Retained Earnings, 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.

Fixed asset investments

Investments are measured at fair value through profit or loss. Where fair value cannot be measured reliably,

investments are measured at cost less impairment.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past

event, it is probable that the company will be required to settle that obligation and a reliable estimate can be

made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present

obligation at the balance sheet date, taking into accounts the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

Additions

45,949

Disposals

(18,000

)

At 31 July 2019

27,949

DEPRECIATION

Charge for period

8,356

Eliminated on disposal

(10

)

At 31 July 2019

8,346

NET BOOK VALUE

At 31 July 2019

19,603

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST OR VALUATION

Additions

102

406,419

406,521

Revaluations

-

16,287

16,287

At 31 July 2019

102

422,706

422,808

NET BOOK VALUE

At 31 July 2019

102

422,706

422,808

Cost or valuation at 31 July 2019 is represented by:

Shares in

group

Other

undertakings

investments

Totals

£

£

£

Valuation in 2019

-

16,287

16,287

Cost

102

406,419

406,521

102

422,706

422,808

The company's investments at the Balance Sheet date in the share capital of companies include the following:

E-Reserve Limited

Registered office: 6 Logie Mill, Edinburgh, Lothian, EH7 4HG

Nature of business: Advertising accommodation

%

Class of shares:

holding

Ordinary

100.00

31.7.19

£

Aggregate capital and reserves

10,952

Loss for the period

(5,118

)

Sleephappy Limited

Registered office: 6 Logie Mill, Edinburgh, Lothian, EH7 4HG

Nature of business: Advertising

%

Class of shares:

holding

Ordinary

100.00

31.7.19

£

Aggregate capital and reserves

(1,575

)

Loss for the period

(1,675

)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

58,847

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

336

Other creditors

2,513

2,849

8.	PROVISIONS FOR LIABILITIES

£

Deferred tax

2,274

Deferred

tax

£

Provided during period

2,274

Balance at 31 July 2019

2,274

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

200

Ordinary

£1

200

200 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

10.

RESERVES

Retained

earnings

£

Profit for the period

569,828

Dividends

(7,000

)

At 31 July 2019

562,828

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at 31 July 2019, the the company owed the director £713.

12.	RELATED PARTY DISCLOSURES

During the period, total dividends of £7,000 were paid to the director .

Related party

Transaction

Movement in the period ended 31.7.19

Balance receivable from/(payable to) related party at 31.7.19

£

£

E-Reserve Limited

Loan

57,491

57,491

Dividend

556,000

-

Sleephappy Limited

Loan

1,356

1,356

E-Reserve Limited and Sleephappy Limited are wholly owned subsidiaries of E-Reserve Holdings Limited.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A M Richardson.