Grant Henderson Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC267438 (Scotland)

Financial Statements

for the Year Ended 31 May 2021

for

Grant Henderson Ltd.

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

G Henderson

SECRETARY:

Mrs E C Henderson

REGISTERED OFFICE:

14 Rutland Square

Edinburgh

EH1 2BD

REGISTERED NUMBER:

SC267438 (Scotland)

ACCOUNTANTS:

Gibson McKerrell Brown LLP

Chartered Accountants

14 Rutland Square

Edinburgh

Midlothian

EH1 2BD

BANKERS:

The Royal Bank of Scotland plc

Corstorphine Branch

239 St Johns Road

Edinburgh

EH12 7XA

SOLICITORS:

MHD Law LLP

45 Queen Charlotte Street

Edinburgh

Lothians

EH6 7HT

FIXED ASSETS

Investment property

4

1,242,500

1,242,500

CURRENT ASSETS

Debtors

708,440

620,129

Cash at bank

12,422

45,901

720,862

666,030

CREDITORS

Amounts falling due within one year

64,071

53,815

NET CURRENT ASSETS

656,791

612,215

TOTAL ASSETS LESS CURRENT LIABILITIES

1,899,291

1,854,715

CREDITORS

Amounts falling due after more than one year

5

457,748

469,772

NET ASSETS

1,441,543

1,384,943

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7

1,441,443

1,384,843

SHAREHOLDERS' FUNDS

1,441,543

1,384,943

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 May 2022 and were signed by:

G Henderson - Director

1.	STATUTORY INFORMATION

Grant Henderson 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.

The presentation 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 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is attributable to the company's principal activity of investment property holding and letting.

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties are initially measured at cost, including transaction costs. Subsequently, investment

properties whose fair value can be measured reliably without undue cost or effort, on an on-going basis, are

measured at fair value. Gains and losses arising from changes in the fair value of investment properties are

included in profit or loss in the period in which they arise.

Investment properties whose fair value cannot be measured reliably without undue cost or effort, on an on-going basis, are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and payables, loans from banks and other third

parties.

At the end of each reporting period, financial assets that are measured at cost are assessed for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the

Income Statement. If there is a decrease in the impairment loss arising from an event occurring after the

impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount

does not exceed what the carrying amount would have been had the impairment not previously been recognised.

The impairment reversal is recognised in the Income Statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows arising from the asset expire

or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to

another party, or (c) control of the asset has been transferred to another party.

Financial liabilities are measured at amortised cost less any accumulated impairment losses. Financial liabilities

are derecognised when the liability is extinguished, that is when the contractual obligation is discharged,

cancelled or expires.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2020 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2020

and 31 May 2021

1,242,500

NET BOOK VALUE

At 31 May 2021

1,242,500

At 31 May 2020

1,242,500

Fair value at 31 May 2021 is represented by:

£

Valuation in 2017

71,374

Valuation in 2018

103,071

Cost

1,068,055

1,242,500

If investment property had not been revalued it would have been included at the following historical cost:

2021

2020

£

£

Cost

1,068,055

1,068,055

Investment property was valued on an open market basis on 31 May 2018 by the director following a discussion with Graham & Sibbald, Chartered Surveyors.

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2021

2020

£

£

Repayable by instalments

Bank loans more 5 yr by instal

373,339

404,909

6.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

485,148

497,172

The bank loan is secured over the assets of the company.

7.

RESERVES

Retained earnings are analysed as follows:

31.05.21

31.05.20

£

Distributable

839,773

783,173

Non-Distributable

601,670

601,670

1,441,443

1,384,843

8.	RELATED PARTY DISCLOSURES

At 31 May 2021 the company was due £220,097 from Henderson Properties, a partnership which is owned by Mr and Mrs G Henderson. The company was also due £256,243 from 4H1 Ltd, a company of which Mr and Mrs G Henderson are directors. These loans are interest free, unsecured and are repayable on demand.