Moidart Capital Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC351074 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

Moidart Capital Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D Stewart Howitt

REGISTERED OFFICE:

6 Logie Mill

Beaverbank Business Park

Edinburgh

Lothian

EH7 4HG

REGISTERED NUMBER:

SC351074 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Tangible assets

3

838

1,117

CURRENT ASSETS

Debtors

4

21,661

2,039

Cash at bank

13,084

29,068

34,745

31,107

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5

5,539

8,231

NET CURRENT ASSETS

29,206

22,876

TOTAL ASSETS LESS CURRENT LIABILITIES

30,044

23,993

PROVISIONS FOR LIABILITIES

6

322

212

NET ASSETS

29,722

23,781

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

29,721

23,780

SHAREHOLDERS' FUNDS

29,722

23,781

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 17 December 2019 and were signed by:

D Stewart Howitt - Director

1.	STATUTORY INFORMATION

Moidart Capital 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.

Turnover

Turnover is stated net of trade discounts and is recognised when the significant risks and rewards are considered

to have been transferred to the buyer. Turnover from the supply of services represents the value of services

provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the

consideration received or receivable. Other operating income is derived from investment income, which is

recognised upon the right to consideration.

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 value, of

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

Fixtures & Fittings- 20% on cost

Computer Equipment- 20% on cost

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.

Assets 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.

Taxation

Taxation for the year 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 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.

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.

Financial instruments

Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of

the instrument.

All financial assets and liabilities are initially measured at transaction price including transaction costs, except

for those financial assets classified as at fair value through profit or loss, which are initially measured at fair

value.

Financial assets are derecognised when and only when contractual rights to the cash flows from the financial

asset expire or are settled or the company transfers to another party substantially all of the risks and rewards of

ownership of the financial asset.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled

or expires.

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 account 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.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

1,000

396

1,396

DEPRECIATION

At 1 April 2018

200

79

279

Charge for year

200

79

279

At 31 March 2019

400

158

558

NET BOOK VALUE

At 31 March 2019

600

238

838

At 31 March 2018

800

317

1,117

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Other debtors

21,661

2,039

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

221

289

Taxation and social security

3,518

4,305

Other creditors

1,800

3,637

5,539

8,231

6.	PROVISIONS FOR LIABILITIES

31.3.19

31.3.18

£

£

Deferred tax

322

212

Deferred

tax

£

Balance at 1 April 2018

212

Provided during year

110

Balance at 31 March 2019

322

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

1

Ordinary

£1

1

1

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2019 and

31 March 2018:

31.3.19

31.3.18

£

£

D Stewart Howitt

Balance outstanding at start of year

-

-

Amounts advanced

9,284

8,415

Amounts repaid

(9,284

)

(8,415

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £9,284 were paid to the director .

Movement in the year ended

Movement in the year ended

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

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

31.3.19

31.3.18

31.3.19

31.3.18

£

£

£

£

Moidart Hydro LLP

Loan balance

6,519

1,982

4,622

(1,897)

Share of Profit

21,519

26,982

-

-

Consultancy fees

6,000

6,000

-

-

Sunart Telecom Limited

Loan balance

15,000

-

15,000

-

Moidart Capital Limited is a member of Moidart Hydro LLP.

A director of Sunart Telecom Limited is also a director of Moidart Capital Limited

10.	ULTIMATE CONTROLLING PARTY

The controlling party is D Stewart Howitt.