Nilsine Property Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC313962 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

NILSINE PROPERTY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B Aitken

G P Hegarty

MJP Connolly

SECRETARY:

B Aitken

REGISTERED OFFICE:

3 Newmains Avenue

Inchinnan Business Park

Renfrew

PA4 9RR

REGISTERED NUMBER:

SC313962 (Scotland)

ACCOUNTANTS:

Consilium Chartered Accountants

169 West George Street

Glasgow

G2 2LB

CURRENT ASSETS

Debtors

4

3,482,118

2,471,623

Cash at bank

3,438

1,573,808

3,485,556

4,045,431

CREDITORS

Amounts falling due within one year

5

2,901,557

803,019

NET CURRENT ASSETS

583,999

3,242,412

TOTAL ASSETS LESS CURRENT LIABILITIES

583,999

3,242,412

CAPITAL AND RESERVES

Called up share capital

6

2,500

2,500

Retained earnings

581,499

3,239,912

SHAREHOLDERS' FUNDS

583,999

3,242,412

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 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 11 September 2020 and were signed on its behalf by:

B Aitken - Director

1.	STATUTORY INFORMATION

Nilsine Property Limited is a private company, limited by shares, registered in Scotland. The company's registered number

and registered office address is:

Registered number:

SC313962

Registered address:

3 Newmains Avenue

Inchinnan Business Park

Renfrew

PA4 9RR

The presentation and functional currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial

Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies

Act 2006. These financial statements have been prepared under the historical cost convention modified for the revaluation

of certain fixed assets.

Financial instruments

The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments,

according to the substance of the contractual arrangement.

Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at

principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the

outstanding balance and are amortised over the period to the due date for repayment of the financial liability.

An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of

its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated

financial instrument.

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

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.

Pension costs and other post-retirement benefits

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of

the Company in an independently administered fund. Contributions to the Company's defined contribution scheme are

charged to the Income Statement in the year in which they become payable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

3,482,118

2,471,623

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed to related undertakings

1,738,785

585,237

Taxation and social security

474

499

Other creditors

1,162,298

217,283

2,901,557

803,019

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

5,000

Ordinary

£0.50

2,500

2,500

7.	RELATED PARTY DISCLOSURES

Transactions with related parties include:

2019

2018

£

£

Amounts owed to/(from) directors

20,919

(5,474

)

Amounts owed to connected parties

213,632

214,846

Amounts owed to related undertakings

1,738,785

585,237

Amounts owed from related undertakings

3,443,565

2,449,565

The above loans are unsecured, interest free and repayable on demand.

No further transactions with related parties were undertaken such as are required to be disclosed under the provisions of

Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and

Republic of Ireland".

8.	ULTIMATE CONTROLLING PARTY

The Company was under the control of its shareholders during the current and previous year. No individual shareholder

had a controlling interest in the Company.