Chatco Limited - Accounts to registrar - small 17.2

Chatco Limited - Accounts to registrar - small 17.2

CHATCO LIMITED - Company Information

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REGISTERED NUMBER: SC313959 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

CHATCO LIMITED

CHATCO LIMITED (REGISTERED NUMBER: SC313959)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CHATCO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTORS: B Aitken
M J P Connolly
G P Hegarty
M Connolly





SECRETARY: B Aitken





REGISTERED OFFICE: 3 Newmains Avenue
Inchinnan Business Park
Renfrew
PA4 9RR





REGISTERED NUMBER: SC313959 (Scotland)





ACCOUNTANTS: Consilium Chartered Accountants
169 West George Street
Glasgow
G2 2LB
Page 1
CHATCO LIMITED (REGISTERED NUMBER: SC313959)

BALANCE SHEET
31 DECEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 300,000 300,000

CURRENT ASSETS
Debtors 4 17,000 36,000
Cash at bank 29,058 2,921
46,058 38,921
CREDITORS
Amounts falling due within one year 5 166,551 169,200
NET CURRENT LIABILITIES (120,493 ) (130,279 )
TOTAL ASSETS LESS CURRENT LIABILITIES 179,507 169,721

CAPITAL AND RESERVES
Called up share capital 6 2,500 2,500
Revaluation reserve 187,854 187,854
Retained earnings (10,847 ) (20,633 )
SHAREHOLDERS' FUNDS 179,507 169,721

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2016 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 20 September 2017 and were signed on its behalf by:





B Aitken - Director


The notes form part of these financial statements

Page 2
CHATCO LIMITED (REGISTERED NUMBER: SC313959)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016


1. STATUTORY INFORMATION

Chatco 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.

Turnover
Turnover represents amounts invoiced for property rental. Turnover is recognised at the point at which the Company has
fulfilled its contractual obligations to the tenants.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value
is recognised in profit or loss.

The Companies Act 2006 would normally require the systematic depreciation of fixed assets, however the directors believe
the policy of not providing depreciation on investment properties is necessary in order that the financial statements give a
true and fair view.

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.

Financial instruments
Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments,
according to the substance of the contractual arrangement.

Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at
principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the
outstanding balance and are amortised over the period to the due date for repayment of the financial liability.

An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of
its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated
financial instrument.

Page 3 continued...
CHATCO LIMITED (REGISTERED NUMBER: SC313959)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2016
and 31 December 2016 300,000
NET BOOK VALUE
At 31 December 2016 300,000
At 31 December 2015 300,000

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 12,000 36,000
Amounts owed by associates 5,000 -
17,000 36,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Amounts owed to associates 110,000 110,000
Other creditors 56,551 59,200
166,551 169,200

6. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
5,000 Ordinary £0.50 2,500 2,500

7. RELATED PARTY DISCLOSURES

Loans to the directors, shareholders and other connected parties are unsecured, interest free and repayable on demand.
The total amounts outstanding at 31 December 2016 were £54,138 (2015 - £57,508).

During the year the Company received amounts of £24,000 (2015 - £nil) from related parties with common ownership. The
total amounts due from related parties with common ownership at 31 December 2016 were £17,000 (2015 - £36,000).

During the year the Company paid amounts of £5,000 (2015 - £20,000) to related parties with common ownership. The
total amounts due to related parties with common ownership at 31 December 2016 were £110,000 (2015 - £110,000)

No further transactions with related parties were undertaken such as are required to be disclosed under the provisions of
Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and
Republic of Ireland".

8. ULTIMATE CONTROLLING PARTY

The Company was under the control of its shareholders throughout the current and previous year. No individual
shareholder had a controlling interest in the Company.

Page 4 continued...
CHATCO LIMITED (REGISTERED NUMBER: SC313959)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


9. FIRST YEAR ADOPTION

The policies applied under the Company's previous accounting framework are not materially different to FRS 102 and have
not impacted on equity or profit or loss. The transition date for FRS 102 reporting is 1 January 2015.


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