Abbey Heritable Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC360291 (Scotland)

Abbey Heritable Limited

Unaudited Financial Statements

for the Year Ended 31 March 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A E White

K Murdoch

J Wilkie

SECRETARY:

K Murdoch

REGISTERED OFFICE:

3 Forth Street Lane

North Berwick

EH39 4JB

REGISTERED NUMBER:

SC360291 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

FIXED ASSETS

Investments

3

971,099

971,099

CREDITORS

Amounts falling due within one year

4

60,396

59,462

NET CURRENT LIABILITIES

(60,396

)

(59,462

)

TOTAL ASSETS LESS CURRENT LIABILITIES

910,703

911,637

CREDITORS

Amounts falling due after more than one year

5

926,258

926,258

NET LIABILITIES

(15,555

)

(14,621

)

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

(15,855

)

(14,921

)

SHAREHOLDERS' FUNDS

(15,555

)

(14,621

)

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 directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 December 2019 and were signed on its behalf by:

K Murdoch - Director

1.	STATUTORY INFORMATION

Abbey Heritable 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.

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.

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

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.

Going concern

These financial statements have been prepared on a going concern basis. At 31 March 2019 the

company had net liabilities. In order to continue as a going concern the company will require the

ongoing support of the directors and creditors.

3.	FIXED ASSET INVESTMENTS

2019

2018

£

£

Shares in group undertakings

1

1

Other loans

971,098

971,098

971,099

971,099

Additional information is as follows:

Shares in

group

undertakings

£

COST

At 1 April 2018

and 31 March 2019

1

NET BOOK VALUE

At 31 March 2019

1

At 31 March 2018

1

Other

loans

£

At 1 April 2018

and 31 March 2019

971,098

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other creditors

60,396

59,462

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

926,258

926,258

The loans are unsecured, interest free and have no set repayment terms.