Ngs Properties Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC383102 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

FOR

NGS PROPERTIES LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Report of the Accountants

5

DIRECTORS:

A J Still

Mrs M Still

N Still

REGISTERED OFFICE:

66 Tay Street

Perth

PH12 8RA

REGISTERED NUMBER:

SC383102 (Scotland)

ACCOUNTANTS:

Acumen Accountants and Advisors Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeenshire

AB12 4XX

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

663,110

700,000

663,110

700,000

CURRENT ASSETS

Debtors

6

1,630

14,599

Cash at bank

45,503

13,842

47,133

28,441

CREDITORS

Amounts falling due within one year

7

549,861

575,110

NET CURRENT LIABILITIES

(502,728

)

(546,669

)

TOTAL ASSETS LESS CURRENT LIABILITIES

160,382

153,331

PROVISIONS FOR LIABILITIES

23,781

23,781

NET ASSETS

136,601

129,550

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

135,601

128,550

136,601

129,550

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 10 February 2020 and were signed on its behalf by:

A J Still - Director

1.	STATUTORY INFORMATION

Ngs Properties Ltd. 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 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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is

recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2018

and 31 August 2019

958

DEPRECIATION

At 1 September 2018

and 31 August 2019

958

NET BOOK VALUE

At 31 August 2019

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2018

700,000

Impairments

(36,890

)

At 31 August 2019

663,110

NET BOOK VALUE

At 31 August 2019

663,110

At 31 August 2018

700,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

14,599

Other debtors

1,630

-

1,630

14,599

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

382

12,978

Other creditors

549,479

562,132

549,861

575,110

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2019 and 31 August 2018:

2019

2018

£

£

A J Still

Balance outstanding at start of year

(548,413

)

(527,253

)

Amounts advanced

-

35,000

Amounts repaid

-

(56,160

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(548,413

)

(548,413

)

9.	ULTIMATE CONTROLLING PARTY

The controlling party is A J Still.

The following reproduces the text of the report prepared for the directors 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 Directors are

not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 August 2019 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Acumen Accountants and Advisors Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeenshire

AB12 4XX

10 February 2020