Sidlaw Investments Ltd - Period Ending 2019-03-31

Registration number: SC503129

Sidlaw Investments Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2019

Walker Dunnett & Co
29 Commercial Street
Dundee
DD1 3DG

Sidlaw Investments Ltd

Contents

Statement of Financial Position	1 to 2
Notes to the Financial Statements	3 to 5

Sidlaw Investments Ltd

(Registration number: SC503129)
Statement of Financial Position as at 31 March 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	3	3,808	4,480
Current assets
Debtors	4	4,228	4,731
Cash at bank and in hand		103	4,841
		4,331	9,572
Creditors: Amounts falling due within one year	5	(100,631)	(86,512)
Net current liabilities		(96,300)	(76,940)
Net liabilities		(92,492)	(72,460)
Capital and reserves
Called up share capital		104	104
Profit and loss account		(92,596)	(72,564)
Total equity		(92,492)	(72,460)

For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 1

Sidlaw Investments Ltd

(Registration number: SC503129)
Statement of Financial Position as at 31 March 2019

Approved and authorised by the Board on 5 November 2019 and signed on its behalf by:
 

.........................................

Mr Michael Callachan
Director

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 2

Sidlaw Investments Ltd

Notes to the Financial Statements for the Year Ended 31 March 2019

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Shed 26, Unit 35
City Quay
Camperdown Street
Dundee
DD1 3JA

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis. This basis may not be appropriate due to the deficit on the balance sheet at the period end. Should the Company be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amount to provide for any further liabilities which may arise and to reclassify any fixed assets and long term liabilities as current assets and liabilities. The Company is relying on the continued support of the Directors.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% reducing balance

Page 3

Sidlaw Investments Ltd

Notes to the Financial Statements for the Year Ended 31 March 2019

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 
 

3	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2018	6,476	6,476
At 31 March 2019	6,476	6,476
Depreciation
At 1 April 2018	1,996	1,996
Charge for the year	672	672
At 31 March 2019	2,668	2,668
Carrying amount
At 31 March 2019	3,808	3,808
At 31 March 2018	4,480	4,480

4

Debtors

	2019 £	2018 £
Other debtors	4,228	4,731
	4,228	4,731

Page 4

Sidlaw Investments Ltd

Notes to the Financial Statements for the Year Ended 31 March 2019

5

Creditors

Creditors: amounts falling due within one year

	2019 £	2018 £
Due within one year
Trade creditors	-	571
Accruals and deferred income	780	780
Other creditors	99,851	85,161
	100,631	86,512

6	Directors' advances, credits and guarantees

Mr M Callachan, Mr A Reid, Mr D Rankine, Mr A McDonald and Mr E Johnstone, directors of the company were due £47, £36, £17, £2 and £2 respectively to the company at the year-end (2017 £104).

Page 5