Barnellan Equity Advice Ltd. - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC236353 (Scotland)

BARNELLAN EQUITY ADVICE LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2017

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

G Burns

C Burns

SECRETARY:

K W Russell

REGISTERED OFFICE:

Barnellan

Bardowie

Milngavie

Glasgow

G62 6EZ

REGISTERED NUMBER:

SC236353 (Scotland)

ACCOUNTANTS:

Russell & Russell

Chartered Accountants

4 Royal Crescent

Glasgow

G3 7SL

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Barnellan Equity Advice Ltd. for the year ended 30th September 2017 which comprise the

Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Barnellan Equity Advice Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Barnellan Equity Advice Ltd. and state those matters that we have agreed to state to the Board of Directors of Barnellan Equity Advice Ltd., as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Barnellan Equity Advice Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Barnellan Equity Advice Ltd.. You consider that Barnellan Equity Advice Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Barnellan Equity Advice Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Russell & Russell

Chartered Accountants

4 Royal Crescent

Glasgow

G3 7SL

19th February 2018

FIXED ASSETS

Tangible assets

4

462

853

CURRENT ASSETS

Debtors

5

251,599

85,532

Investments

6

1,050,894

1,073,012

Cash at bank

99,144

57,935

1,401,637

1,216,479

CREDITORS

Amounts falling due within one year

7

40,240

25,009

NET CURRENT ASSETS

1,361,397

1,191,470

TOTAL ASSETS LESS CURRENT LIABILITIES

1,361,859

1,192,323

PROVISIONS FOR LIABILITIES

8

49,565

48,227

NET ASSETS

1,312,294

1,144,096

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

1,311,294

1,143,096

SHAREHOLDERS' FUNDS

1,312,294

1,144,096

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 16th February 2018 and were signed on its behalf by:

G Burns - Director

1.	STATUTORY INFORMATION

Barnellan Equity Advice 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

The turnover shown in the profit and loss account represents fees rendered for services provided during

the year and reimbursements, exclusive of value added tax.

Tangible fixed assets

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

Computer equipment

-

33% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is

any contract that evidences a residual interest in the assets of the company after deducting all of its

liabilities.

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.

Pension costs and other post-retirement benefits

The company makes employer contributions to a personal pension scheme for one of the directors.

Contributions payable to this pension scheme are charged to the profit and loss account in the period to

which they relate.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of the transaction. Exchange differences are taken into account in arriving at the

operating profit.

Current asset investments

Current asset investments are stated at fair value

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st October 2016

and 30th September 2017

2,286

DEPRECIATION

At 1st October 2016

1,433

Charge for year

391

At 30th September 2017

1,824

NET BOOK VALUE

At 30th September 2017

462

At 30th September 2016

853

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

as restated

£

£

Trade debtors

11,273

18,761

Amount owed by investment

manager

237,186

63,922

Prepayments

3,140

2,849

251,599

85,532

6.	CURRENT ASSET INVESTMENTS

30.9.17

30.9.16

as restated

£

£

Listed investments

1,050,894

1,073,012

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

as restated

£

£

Taxation and social security

19,845

6,509

Other creditors

20,395

18,500

40,240

25,009

8.	PROVISIONS FOR LIABILITIES

30.9.17

30.9.16

as restated

£

£

Deferred tax

Deferred tax: FA allowances

92

134

Deferred tax: short term timing differences

49,473

48,093

49,565

48,227

Deferred

tax

£

Balance at 1st October 2016

48,227

Movement during year

1,338

Balance at 30th September 2017

49,565

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.17

30.9.16

value:

as restated

£

£

525

A Ordinary

£1

525

525

175

B Ordinary

£1

175

175

300

C Ordinary

£1

300

300

1,000

1,000

10.	ULTIMATE CONTROLLING PARTY

The controlling party is G Burns.