Foreboys (Highland) Limited Filleted accounts for Companies House (small and micro)

FOREBOYS (HIGHLAND) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: SC271415

Foreboys (Highland) Limited

Filleted Unaudited Financial Statements

31 July 2021

Foreboys (Highland) Limited

Statement of Financial Position

31 July 2021

	2021		2020
Note	£	£	£

Current assets

Debtors	4	–	1,000
Cash at bank and in hand		133	2,020
		----	-------
		133	3,020

Creditors: amounts falling due within one year	5	318,709		315,225
		---------		---------
Net current liabilities			318,576	312,205
			---------	---------
Total assets less current liabilities			( 318,576)	( 312,205)
			---------	---------
Net liabilities			( 318,576)	( 312,205)
			---------	---------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	( 319,576)	( 313,205)
	---------	---------
Shareholders deficit	( 318,576)	( 312,205)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 30 March 2022 , and are signed on behalf of the board by:

Mr B J MacDonald

Director

Company registration number: SC271415

Foreboys (Highland) Limited

Notes to the Financial Statements

Year ended 31 July 2021

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Forbes House, 36 Hunlty Street, Inverness, IV3 5PR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements are prepared on a going concern basis as the directors have agreed to fund the company's liabilities on an ongoing basis and all third party liabilities will be settled before the directors' loan of £226,435.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Debtors

	2021	2020
	£	£
Other debtors	–	1,000
	----	-------

5. Creditors: amounts falling due within one year

	2021	2020
	£	£
Other creditors	318,709	315,225
	---------	---------

6. Related party transactions

Included in creditors falling due in less than one year are loans from 3 (2020 - 3) directors amounting to £ 226,435 (2020 - £227,609). The loans are unsecured and have no fixed terms of repayment. Where the directors have borrowed personally in order to introduce funds into the company, the interest on such borrowings is recharged to the company at the rate at which it is charged by the third party lender. During the year two directors received interest of £3,397 (2020 - £3,801).