Suilven Edinburgh Limited - Accounts to registrar (filleted) - small 17.3

Suilven Edinburgh Limited - Accounts to registrar (filleted) - small 17.3


IRIS Accounts Productionv17.3.0.1062SC336229Board of Directors1.1.1631.12.1631.12.16falsetruefalsefalsetruefalseiso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC3362292015-12-31SC3362292016-12-31SC3362292016-01-012016-12-31SC3362292014-12-31SC3362292015-01-012015-12-31SC3362292015-12-31SC336229ns15:Scotland2016-01-012016-12-31SC336229ns14:PoundSterling2016-01-012016-12-31SC336229ns10:Director12016-01-012016-12-31SC336229ns10:PrivateLimitedCompanyLtd2016-01-012016-12-31SC336229ns10:SmallEntities2016-01-012016-12-31SC336229ns10:AuditExempt-NoAccountantsReport2016-01-012016-12-31SC336229ns10:SmallCompaniesRegimeForDirectorsReport2016-01-012016-12-31SC336229ns10:SmallCompaniesRegimeForAccounts2016-01-012016-12-31SC336229ns10:FullAccounts2016-01-012016-12-31SC336229ns10:Director22016-01-012016-12-31SC336229ns10:CompanySecretary12016-01-012016-12-31SC336229ns10:RegisteredOffice2016-01-012016-12-31SC336229ns5:CurrentFinancialInstruments2016-12-31SC336229ns5:CurrentFinancialInstruments2015-12-31SC336229ns5:ShareCapital2016-12-31SC336229ns5:ShareCapital2015-12-31SC336229ns5:RetainedEarningsAccumulatedLosses2016-12-31SC336229ns5:RetainedEarningsAccumulatedLosses2015-12-31SC336229ns5:ComputerEquipment2015-12-31SC336229ns5:ComputerEquipment2016-01-012016-12-31SC336229ns5:ComputerEquipment2016-12-31SC336229ns5:ComputerEquipment2015-12-31SC336229ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-12-31SC336229ns5:CurrentFinancialInstrumentsns5:WithinOneYear2015-12-31SC336229ns5:DeferredTaxation2015-12-31SC336229ns5:DeferredTaxation2016-01-012016-12-31SC336229ns5:DeferredTaxation2016-12-31SC336229ns5:RetainedEarningsAccumulatedLosses2015-12-31SC336229ns5:RetainedEarningsAccumulatedLosses2016-01-012016-12-31


REGISTERED NUMBER: SC336229(Scotland)













Unaudited Financial Statements

for the Year Ended 31 December 2016

for

Suilven Edinburgh Limited

Suilven Edinburgh Limited (Registered number: SC336229)






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


Suilven Edinburgh Limited

Company Information
for the Year Ended 31 December 2016







DIRECTORS: M L Ismail
A Ismail





SECRETARY: A H & Co Ltd





REGISTERED OFFICE: 6 Logie Mill
Beaverbank Business Park
Edinburgh
Lothian
EH7 4HG





REGISTERED NUMBER: SC336229(Scotland)





ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG

Suilven Edinburgh Limited (Registered number: SC336229)

Balance Sheet
31 December 2016

31.12.16 31.12.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 511 883

CURRENT ASSETS
Debtors 5 357,030 505,011
Cash at bank and in hand 17,918 4,310
374,948 509,321
CREDITORS
Amounts falling due within one year 6 493,519 558,890
NET CURRENT LIABILITIES (118,571 ) (49,569 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(118,060

)

(48,686

)

PROVISIONS FOR LIABILITIES 7 87 -
NET LIABILITIES (118,147 ) (48,686 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 (118,247 ) (48,786 )
SHAREHOLDERS' FUNDS (118,147 ) (48,686 )

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 30 October 2017and were signed on its behalf by:



M L Ismail- Director


Suilven Edinburgh Limited (Registered number: SC336229)

Notes to the Financial Statements
for the Year Ended 31 December 2016

1. STATUTORY INFORMATION

Suilven Edinburgh 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
The accounts have been prepared on the going concern basis, the acceptability of which is dependent on the
continuing support of the directors.

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
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is
provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each
asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery - 25% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset,
after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at
the end of its useful life.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured
at their settlement value.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at
the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Suilven Edinburgh Limited (Registered number: SC336229)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2016

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1(2015 - 1) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2016
and 31 December 2016 1,647
DEPRECIATION
At 1 January 2016 764
Charge for year 372
At 31 December 2016 1,136
NET BOOK VALUE
At 31 December 2016 511
At 31 December 2015 883

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.16 31.12.15
£    £   
Trade debtors - 120,000
Other debtors 357,030 385,011
357,030 505,011

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.16 31.12.15
£    £   
Other creditors 493,519 558,890

7. PROVISIONS FOR LIABILITIES
31.12.16
£   
Deferred tax 87

Deferred
tax
£   
Balance at 1 January 2016 (3,784 )
Provided during year 3,871
Balance at 31 December 2016 87

Suilven Edinburgh Limited (Registered number: SC336229)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2016

8. RESERVES
Retained
earnings
£   

At 1 January 2016 (48,786 )
Deficit for the year (69,461 )
At 31 December 2016 (118,247 )

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company owed the directors £490,352 at the 31st December 2016 (2015: £555,351).

10. RELATED PARTY DISCLOSURES

Transactions with related parties during the year and balances outstanding at the year end were as follows:



Related Party

Type of
Transaction

Amount
31.12.16

Amount
31.12.15
Balance receivable/
(payable by related
party as at 31.12.16


)
Balance receivable/
(payable by related
party as at 31.12.15


)
£ £ £ £
Immobiliare
Massarosa
SRL

Loan

(24,197)

5,695

357,030

381,227

11. CONTROLLING INTEREST

There is no ultimate controlling party.

12. FIRST YEAR ADOPTION

Transitional relief
These are the first financial statements that comply with FRS 102 (Section 1A). The company transitioned to
FRS 102 (Section 1A) on 1 January 2014.

No transitional adjustments were required in equity or profit or loss for the year.