Erskine Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC071067 (Scotland)

Unaudited Financial Statements for the Year Ended 30 September 2020

for

Erskine Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs K E Shaw

G M P Shaw

SECRETARY:

MBM Secretarial Services Limited

REGISTERED OFFICE:

5th Floor

125 Princes Street

Edinburgh

EH2 4AD

REGISTERED NUMBER:

SC071067 (Scotland)

ACCOUNTANTS:

Douglas Home & Co Ltd

Chartered Accountants

47-49 The Square

Kelso

Roxburghshire

TD5 7HW

FIXED ASSETS

Investments

4

40,119

40,119

CREDITORS

Amounts falling due within one year

5

39,255

38,195

NET CURRENT LIABILITIES

(39,255

)

(38,195

)

TOTAL ASSETS LESS CURRENT LIABILITIES

864

1,924

CAPITAL AND RESERVES

Called up share capital

381

381

Retained earnings

6

483

1,543

864

1,924

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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 29 June 2021 and were signed on its behalf by:

G M P Shaw - Director

1.	STATUTORY INFORMATION

Erskine Properties 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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an

impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the

difference between an asset's carrying amount and best estimate of the recoverable amount, which is

an approximation of the amount that the company would receive for the asset if it were to be sold at

the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2019

and 30 September 2020

40,119

NET BOOK VALUE

At 30 September 2020

40,119

At 30 September 2019

40,119

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/20

30/9/19

£

£

Amounts owed to group undertakings

38,355

37,295

Accrued expenses

900

900

39,255

38,195

6.

RESERVES

Retained

earnings

£

At 1 October 2019

1,543

Profit for the year

20,061

Dividends

(21,121

)

At 30 September 2020

483

7.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors, K E Shaw is the ultimate controlling party, by virtue of her shareholding.