Graeme P Chatham (West) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC049733 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Graeme P Chatham (West) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

G P Chatham

Mrs E M T Chatham

J G Shedden

REGISTERED OFFICE:

32 Annandale Street

EDINBURGH

Lothian

EH7 4AN

REGISTERED NUMBER:

SC049733 (Scotland)

ACCOUNTANTS:

Douglas Home and Co Ltd

Old Tweed Mill

Dunsdale Road

Selkirk

Selkirkshire

TD7 5DZ

FIXED ASSETS

Property, plant and equipment

3

-

-

Investment property

4

665,000

890,000

665,000

890,000

CURRENT ASSETS

Debtors

5

41,931

42,733

Cash at bank and in hand

99,189

3,379

141,120

46,112

CREDITORS

Amounts falling due within one year

6

33,833

190,300

NET CURRENT ASSETS/(LIABILITIES)

107,287

(144,188

)

TOTAL ASSETS LESS CURRENT LIABILITIES

772,287

745,812

PROVISIONS FOR LIABILITIES

2,920

-

NET ASSETS

769,367

745,812

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

7

115,000

115,000

Retained earnings

654,267

630,712

SHAREHOLDERS' FUNDS

769,367

745,812

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 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 23 August 2017 and were signed on its behalf by:

G P Chatham - Director

1.	STATUTORY INFORMATION

Graeme P Chatham (West) Limited 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.

Tangible fixed assets

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

Motor vehicles

-

25% on cost

Office Equipment

-

33% on cost and 25% on cost

Investment property

Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is

provided on these gains at the rate expected to apply when the property is sold.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

Basis of preparation

The financial statements have been prepared in accordance with applicable accounting standards.

3.	PROPERTY, PLANT AND EQUIPMENT

Motor

Office

vehicles

Equipment

Totals

£

£

£

COST

At 1 April 2016

7,753

2,975

10,728

Disposals

-

(1,193

)

(1,193

)

At 31 March 2017

7,753

1,782

9,535

DEPRECIATION

At 1 April 2016

7,753

2,975

10,728

Eliminated on disposal

-

(1,193

)

(1,193

)

At 31 March 2017

7,753

1,782

9,535

NET BOOK VALUE

At 31 March 2017

-

-

-

At 31 March 2016

-

-

-

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

890,000

Disposals

(225,000

)

At 31 March 2017

665,000

NET BOOK VALUE

At 31 March 2017

665,000

At 31 March 2016

890,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/3/16

£

£

Loan to Croft an Rie 2013 Ltd (formerly called "Graeme P Chatham Ltd")

41,931

41,931

Prepayments

-

802

41,931

42,733

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/3/16

£

£

Loan from The Chatham Discretionary Trust

-

168,922

Trade creditors

30,000

15,544

Other creditors

2,519

5,834

Deferred income

1,314

-

33,833

190,300

7.

RESERVES

Fair

value

reserve

£

At 1 April 2016

and 31 March 2017

115,000

8.	RELATED PARTY DISCLOSURES

The Chatham Discretionary Trust controls the company. The ultimate controlling party is Graeme P Chatham, a

director of the company and a Trustee and Beneficiary of The Chatham Discretionary Trust. At the year end the

company owed The Chatham Discretionary Trust £30,000 (2016 £15,500).

During the year the company continued loan funding to Croft an Rie 2013 Ltd (formerly called "Graeme P

Chatham Ltd") a company in which GP Chatham and EMT Chatham were formerly directors. Croft an Rie 2013

Ltd is now in liquidation. At the year end the balance owed to the company and claimed in the liquidation was

£41,931 (2016 £41,931). The directors anticipate that this debt remains fully recoverable.

9.	FIRST YEAR ADOPTION

The policies applied under the company's previous accounting framework are not materially different to FRS 102

section 1A and have not impacted on equity or profit.