Grant Henderson Ltd. - Abbreviated accounts 16.3

REGISTERED NUMBER: SC267438 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 31 May 2016

for

Grant Henderson Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

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

1 Chesser Avenue

Edinburgh

EH14 1TB

SOLICITORS:

Sturrock, Armstrong & Thomson

2 Randolph Place

Edinburgh

Lothians

EH3 7TQ

FIXED ASSETS

Investment property

2

677,007

1,105,000

CURRENT ASSETS

Debtors

166,526

157,873

Cash at bank

5,480

9,495

172,006

167,368

CREDITORS

Amounts falling due within one year

3

259,241

123,760

NET CURRENT (LIABILITIES)/ASSETS

(87,235

)

43,608

TOTAL ASSETS LESS CURRENT LIABILITIES

589,772

1,148,608

CREDITORS

Amounts falling due after more than one year

3

856,808

988,469

NET (LIABILITIES)/ASSETS

(267,036

)

160,139

CAPITAL AND RESERVES

Called up share capital

4

100

100

Revaluation reserve

3,943

105,525

Profit and loss account

(271,079

)

54,514

SHAREHOLDERS' FUNDS

(267,036

)

160,139

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 30 August 2016 and were signed by:

G Henderson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention, except for the valuation of

investment properties, and in accordance with the Financial Reporting Standard for Smaller Entities (effective

April 2008).

Turnover

Turnover represents rents received from investment properties, excluding value added tax.

Investment property

Investment properties are held for long term investment, and are accounted for in accordance with SSAP 19 as

follows :

The property is revalued annually and the unrealised gains or losses are transferred to revaluation reserve,

except that a deficit which is expected to be permanent and which is in excess of any previously recognised

surplus is charged to the profit and loss account.

No depreciation is provided in respect of the property.

Although the Companies Act would normally require systematic depreciation of the property the director believes

that the policy of not providing depreciation is necessary in order for the financial statements to give a true and

fair view since the properties are not held for consumption but for investment. The amount of depreciation which

might otherwise have been charged cannot be separately identified or quantified.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 June 2015

1,105,000

Revaluations

(427,993

)

At 31 May 2016

677,007

NET BOOK VALUE

At 31 May 2016

677,007

At 31 May 2015

1,105,000

3.

CREDITORS

Creditors include an amount of £ 808,310 (2015 - £ 808,310 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

5.	RELATED PARTY DISCLOSURES

During the year, total dividends of £6,000 (2015 - £17,500) were paid to the director .

At 31 May 2015 the company was due £121,987 from Henderson Properties, a partnership which is owned by Mr

and Mrs G Henderson. This loan is interest free, unsecured and has no set repayment terms.