GMR Property (Peterhead) Ltd - Accounts to registrar - small 17.1.1

GMR Property (Peterhead) Ltd - Accounts to registrar - small 17.1.1


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REGISTERED NUMBER: SC173377(Scotland)















Financial Statements for the Year Ended 31 March 2017

for

GMR Property (Peterhead) Ltd

GMR Property (Peterhead) Ltd (Registered number: SC173377)






Contents of the Financial Statements
for the Year Ended 31 March 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GMR Property (Peterhead) Ltd

Company Information
for the Year Ended 31 March 2017







DIRECTOR: G A Rennie





REGISTERED OFFICE: Dunit
Station Terrace
Longside
Peterhead
ABERDEENSHIRE
AB42 4UE





REGISTERED NUMBER: SC173377(Scotland)





ACCOUNTANTS: J M Taylor
7 Ythan Terrace
Ellon
ABERDEENSHIRE
AB41 9LJ

GMR Property (Peterhead) Ltd (Registered number: SC173377)

Balance Sheet
31 March 2017

31.3.17 31.3.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 32,050 35,910

CURRENT ASSETS
Debtors 4 191,917 184,418
Cash at bank 9,814 4,687
201,731 189,105
CREDITORS
Amounts falling due within one year 5 54,247 58,341
NET CURRENT ASSETS 147,484 130,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

179,534

166,674

PROVISIONS FOR LIABILITIES 6,410 7,182
NET ASSETS 173,124 159,492

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 173,122 159,490
SHAREHOLDERS' FUNDS 173,124 159,492

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 19 June 2017and were signed by:




G A Rennie- Director


GMR Property (Peterhead) Ltd (Registered number: SC173377)

Notes to the Financial Statements
for the Year Ended 31 March 2017

1. STATUTORY INFORMATION

GMR Property (Peterhead) Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 4% on 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 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.

GMR Property (Peterhead) Ltd (Registered number: SC173377)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

3. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2016
and 31 March 2017 96,500 7,000 103,500
DEPRECIATION
At 1 April 2016 60,590 7,000 67,590
Charge for year 3,860 - 3,860
At 31 March 2017 64,450 7,000 71,450
NET BOOK VALUE
At 31 March 2017 32,050 - 32,050
At 31 March 2016 35,910 - 35,910

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Other debtors 191,917 184,418

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Taxation and social security 4,178 4,138
Other creditors 50,069 54,203
54,247 58,341

6. RELATED PARTY DISCLOSURES

During the year the company traded with GMR Seafoods Limited, a company controlled by Gordon and Morag
Rennie. Details of transactions with this company during the year, and of amounts due to or from the companies
ar 31st March are as follows:


2017 2016

Sales to GMR Seafoods Ltd £21,000 £21,000

Balance due by GMR Seafoods Ltd £191,917 £184,417

7. ULTIMATE CONTROLLING PARTY

Gordon A Rennie a director, together with members of his close family, control the company by virtue of a
controlling interest (directly or indirectly) of 100% of the issued ordinary share capital.