Moray Land Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC306193 (Scotland)

Unaudited Financial Statements

for the Period

1 September 2018 to 31 October 2019

for

Moray Land Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr G Farquhar

Mr G H Mountford

REGISTERED OFFICE:

13 Queens Road

Aberdeen

AB15 4YL

REGISTERED NUMBER:

SC306193 (Scotland)

ACCOUNTANTS:

SBP

Accountants

42 Queens Road

Aberdeen

AB15 4YE

FIXED ASSETS

Investment property

4

-

111,667

CURRENT ASSETS

Debtors

5

15,000

12,000

Cash at bank

7,712

9,103

22,712

21,103

CREDITORS

Amounts falling due within one year

6

11,161

81,021

NET CURRENT ASSETS/(LIABILITIES)

11,551

(59,918

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,551

51,749

CAPITAL AND RESERVES

Called up share capital

1

1

Fair value reserve

-

78,695

Retained earnings

11,550

(26,947

)

11,551

51,749

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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 and authorised for issue on 31 August 2020 and were signed on its behalf by:

Mr G Farquhar - Director

1.	STATUTORY INFORMATION

Moray Land Investments 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate

determined annually by the directors. The directors use observable market prices, adjusted if necessary for any

difference in nature, location or condition of the specific asset. Changes in fair value are recognised in the

Income Statement.

Taxation

Taxation for the period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2018 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2018

111,667

Disposals

(111,667

)

At 31 October 2019

-

NET BOOK VALUE

At 31 October 2019

-

At 31 August 2018

111,667

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.8.18

£

£

Other debtors

15,000

12,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.8.18

£

£

Trade creditors

1,140

-

Other creditors

10,021

81,021

11,161

81,021

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 October 2019 and the year

ended 31 August 2018:

31.10.19

31.8.18

£

£

Mr G Farquhar

Balance outstanding at start of period

(79,677

)

(69,077

)

Amounts advanced

72,000

-

Amounts repaid

(1,000

)

(10,600

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

(8,677

)

(79,677

)

8.	RELATED PARTY DISCLOSURES

G.F. Farquhar (Farms) Limited

(Connected company)

During the year management charges of £5,000 (2018 - £5,000) were paid by G.F. Farquhar (Farms) Limited to

Moray Land Investments Limited. The director, Mr G Farquhar, is a director of G.F. Farquhar (Farms) Limited

and holds 100% of the issued share capital in the company. At the balance sheet date, the amount due from G.F.

Farquhar (Farms) Limited was £15,000 (2018 - £10,000).

G.F. Farquhar (Construction) Limited

(Connected company)

The director, Mr G Farquhar, is a director of G.F. Farquhar (Construction) Limited, a company registered in

Scotland. At the balance sheet date, the amount due to G.F. Farquhar (Construction) Limited was £205 (2018 -

£205).

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr G Farquhar.