Loanhead Properties Ltd - Accounts to registrar - small 17.2

Loanhead Properties Ltd - Accounts to registrar - small 17.2


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REGISTERED NUMBER: SC302938 (Scotland)















Financial Statements for the Year Ended 31 May 2017

for

Loanhead Properties Ltd

Loanhead Properties Ltd (Registered number: SC302938)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Loanhead Properties Ltd

Company Information
for the Year Ended 31 May 2017







DIRECTORS: F Stephen
Mrs A E Stephen





SECRETARY: Mrs A E Stephen





REGISTERED OFFICE: 7 Ythan Terrace
Ellon
ABERDEENSHIRE
AB41 9LJ





REGISTERED NUMBER: SC302938 (Scotland)





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

Loanhead Properties Ltd (Registered number: SC302938)

Balance Sheet
31 May 2017

31/5/17 31/5/16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 241,613 238,618

CURRENT ASSETS
Debtors 5 6,525 4,022
Cash at bank 44,838 51,560
51,363 55,582
CREDITORS
Amounts falling due within one year 6 208,270 222,078
NET CURRENT LIABILITIES (156,907 ) (166,496 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

84,706

72,122

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 84,606 72,022
SHAREHOLDERS' FUNDS 84,706 72,122

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 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 Board of Directors on 13 September 2017 and were signed on its behalf by:





Mrs A E Stephen - Director


Loanhead Properties Ltd (Registered number: SC302938)

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

1. STATUTORY INFORMATION

Loanhead Properties 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
Plant and machinery etc - 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

Loanhead Properties Ltd (Registered number: SC302938)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2016 302,286 6,100 308,386
Additions 15,916 - 15,916
At 31 May 2017 318,202 6,100 324,302
DEPRECIATION
At 1 June 2016 68,243 1,525 69,768
Charge for year 11,777 1,144 12,921
At 31 May 2017 80,020 2,669 82,689
NET BOOK VALUE
At 31 May 2017 238,182 3,431 241,613
At 31 May 2016 234,043 4,575 238,618

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/17 31/5/16
£    £   
Trade debtors 6,000 1,500
Other debtors 525 2,522
6,525 4,022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/17 31/5/16
£    £   
Trade creditors 2,702 10,870
Taxation and social security 10,120 5,947
Other creditors 195,448 205,261
208,270 222,078

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £9,700 (2016 - £10,000) were paid to the directors .

During the year the director's Mr Frank Stephen & Mrs Alison Stephen advanced the company net amounts totalling
£189,686. This amount remained outstanding at 31/05/2017 and is included within Other creditors in the notes to the
accounts.

Loanhead Properties Ltd (Registered number: SC302938)

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

8. ULTIMATE CONTROLLING PARTY

During the year the company was controlled by the directors by virtue of their percentage holding in the ordinary share
capital of the company which is detailed below.

Mr Frank Stephen - 50%
Mrs Alison Stephen - 50%