Formartine Partnership Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC301273 (Scotland)

Financial Statements for the Year Ended 30 April 2021

for

Formartine Partnership Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M H T Andrew FRICS, FAAV

J K Loveday

B J Martin

A Sinclair

J Loder

Y Milne

D G F Hekelaar

SECRETARY:

A Sinclair

REGISTERED OFFICE:

Haddo Estate Office

Mains of Haddo

Tarves

Ellon

Aberdeenshire

AB41 7LD

REGISTERED NUMBER:

SC301273 (Scotland)

ACCOUNTANTS:

J M Taylor

7 Ythan Terrace

Ellon

Aberdeenshire

AB41 9LJ

CURRENT ASSETS

Debtors

5

51

130

Cash at bank and in hand

50,640

35,747

50,691

35,877

CREDITORS

Amounts falling due within one year

6

5,239

3,668

NET CURRENT ASSETS

45,452

32,209

TOTAL ASSETS LESS CURRENT LIABILITIES

45,452

32,209

RESERVES

Income and expenditure account

45,452

32,209

45,452

32,209

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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 surplus or deficit 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 2 December 2021 and were signed on its behalf by:

J K Loveday - Director

1.	STATUTORY INFORMATION

Formartine Partnership Limited is a private company, limited by guarantee , 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

Fixed Assets Investments have been measured at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2020

and 30 April 2021

1,921

DEPRECIATION

At 1 May 2020

and 30 April 2021

1,921

NET BOOK VALUE

At 30 April 2021

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/21

30/4/20

£

£

Other debtors

51

130

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/21

30/4/20

£

£

Trade creditors

2,880

-

Taxation and social security

303

754

Other creditors

2,056

2,914

5,239

3,668

7.	RELATED PARTY DISCLOSURES

Formartine Partnership Limited holds a 20% share in Formartine Renewable Energy LLP.

During the year Formartine Partnership Limited received dividends of £14,000 (2020 - £23,000).

The board has agreed that this money will be donated to Formartine Rural Partnership which was set up in September 2019.

During the year donations of £0 (2020 - £29,000) had been transferred to Formartine Rural Partnership with a balance of £16,000 less administration charges of £1,680 still to be donated.

8.	BREAKDOWN OF DIRECT EXPENSES

30/04/21

30/04/20

£

£

Ythan Trail

0

0

Rural Youth Transport Scheme

0

0

Town & Village Enhancement

1,050

4,941

Formartine In Bloom

0

1,376

Formartine Beginning To Bloom

0

99

Planning For Real

0

480

Invasive Species

0

0

Miscellaneous

0

0

1,050

6,896