Quarry Management & Investment Company - Accounts to registrar - small 17.2
Quarry Management & Investment Company - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 March 2017 |
| for |
| Quarry Management & Investment Company |
| Limited |
| Quarry Management & Investment Company |
| Limited (Registered number: SC134899) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Quarry Management & Investment Company |
| Limited |
| Company Information |
| for the Year Ended 31 March 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 161 Albert Street |
| Dundee |
| Tayside |
| DD4 6PX |
| Quarry Management & Investment Company |
| Limited (Registered number: SC134899) |
| Balance Sheet |
| 31 March 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Quarry Management & Investment Company |
| Limited (Registered number: SC134899) |
| Balance Sheet - continued |
| 31 March 2017 |
| 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 |
| Quarry Management & Investment Company |
| Limited (Registered number: SC134899) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Quarry Management & Investment Company Limited is a |
| 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 |
| Turnover |
| Turnover represents gross rental income receivable and gains on sale of investment properties. |
| Investment property |
| Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is |
| recognised through profit and loss. |
| 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 |
| Quarry Management & Investment Company |
| Limited (Registered number: SC134899) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2016 |
| Additions |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| Cost or valuation at 31 March 2017 is represented by: |
| £ |
| Valuation in 2006 | 51,500 |
| Cost | 1,603,174 |
| 1,654,674 |
| If the investment properties had not been revalued they would have been included at the following historical |
| cost: |
| 2017 | 2016 |
| £ | £ |
| Cost | 1,603,174 | 1,512,476 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Loans over 5 years | 518,798 | 548,326 |
| Quarry Management & Investment Company |
| Limited (Registered number: SC134899) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| 8. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 April 2016 |
| and 31 March 2017 |
| 9. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £3,780 (2016 - £1,260) were paid to the director . |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Melville Strachan Matthew. |