Croileagan Nurseries Limited - Period Ending 2016-09-30

Registration number: SC288750

Croileagan Nurseries Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

Croileagan Nurseries Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Croileagan Nurseries Limited
for the Year Ended 30 September 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Croileagan Nurseries Limited for the year ended 30 September 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. 2 to 4

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Croileagan Nurseries Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Croileagan Nurseries Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Institue of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Croileagan Nurseries Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Croileagan Nurseries Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Croileagan Nurseries Limited. You consider that Croileagan Nurseries Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Croileagan Nurseries Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

......................................

Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

14 June 2017

Page 1

Croileagan Nurseries Limited
(Registration number: SC288750)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					-			52,258
Current assets
Debtors					-			6,671
Cash at bank and in hand					-			5,823
					-			12,494
Creditors: Amounts falling due within one year					(1,752)			(34,732)
Net current liabilities					(1,752)			(22,238)
Total assets less current liabilities					(1,752)			30,020
Provisions for liabilities					-			(621)
Net (liabilities)/assets					(1,752)			29,399
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(1,852)			29,299
Shareholders' (deficit)/funds					(1,752)			29,399

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 14 June 2017 and signed on its behalf by:

.........................................
Mr J Boyd Murdoch
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Croileagan Nurseries Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis as the group companies have undertaken to support the company.

Turnover

Turnover represents amounts chargeable in respect of the sale of services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	100%

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expencted useful ecomonic life as follows:

Asset class	Depreciation method and rate
Tenants improvements	10% straight line
Office equipment	15% and 20% straight line
Fixtures and fittings	15% straight line

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Croileagan Nurseries Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2015		-			163,045			163,045
Additions		31,772			-			31,772
Disposals		-			(163,045)			(163,045)
At 30 September 2016		31,772			-			31,772
Depreciation
At 1 October 2015		-			110,787			110,787
Charge for the year		31,772			-			31,772
Eliminated on disposals		-			(110,787)			(110,787)
At 30 September 2016		31,772			-			31,772
Net book value
At 30 September 2016		-			-			-
At 30 September 2015		-			52,258			52,258

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4

Control

The company is controlled by Wee Gems Holding Limited. The ultimate controlling party is Mahyar Mortazavi .

Page 4