William R. Allan (Scotland) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC048937 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

WILLIAM R. ALLAN (SCOTLAND) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R B Bowie

A H Newton

N K Wilson

SECRETARY:

Queensferry Square Limited

REGISTERED OFFICE:

1 Exchange Crescent

Conference Square

Edinburgh

EH3 8UL

BUSINESS ADDRESS:

Mill Lade House

5 Mill Farm

Aberdour

Fife

KY3 0RG

REGISTERED NUMBER:

SC048937 (Scotland)

SOLICITORS:

Shepherd and Wedderburn

1 Exchange Crescent

Conference Square

Edinburgh

EH3 8UL

FIXED ASSETS

Tangible assets

4

7,764

9,219

Investments

5

133,000

133,000

Investment property

6

250,000

250,000

390,764

392,219

CURRENT ASSETS

Debtors

7

19,928

1,909

Cash at bank and in hand

311,495

221,186

331,423

223,095

CREDITORS

Amounts falling due within one year

8

230,106

169,557

NET CURRENT ASSETS

101,317

53,538

TOTAL ASSETS LESS CURRENT LIABILITIES

492,081

445,757

PROVISIONS FOR LIABILITIES

10

16,100

16,500

NET ASSETS

475,981

429,257

CAPITAL AND RESERVES

Called up share capital

275,000

275,000

Fair value reserve

11

183,449

183,049

Retained earnings

11

17,532

(28,792

)

SHAREHOLDERS' FUNDS

475,981

429,257

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 27 March 2018 and were signed on its behalf by:

R B Bowie - Director

1.	STATUTORY INFORMATION

William R. Allan (Scotland) 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents commissions from timber agency work and is stated exclusive of value added tax.

Income is recognised when suppliers have been paid and the risks and rewards of ownership have

transferred to customers.

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.

Plant and machinery etc

-

33% on cost, 25% on cost and 10% on cost

The property, originally purchased in 1999, has, from 2011, been disclosed as an investment property.

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.

Financial instruments/investments

Investments in shares are stated at fair value with any aggregate surplus or deficit arising from

changes in fair value being recognised in profit or loss. In the case of listed shares, the fair value is

determined from stock market prices. In the case of unlisted shares, fair value is determined from the

most recent available information on the allotment of shares.

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 operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

15,063

Additions

1,590

Disposals

(1,000

)

At 31 December 2017

15,653

DEPRECIATION

At 1 January 2017

5,844

Charge for year

3,045

Eliminated on disposal

(1,000

)

At 31 December 2017

7,889

NET BOOK VALUE

At 31 December 2017

7,764

At 31 December 2016

9,219

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2017

and 31 December 2017

133,000

NET BOOK VALUE

At 31 December 2017

133,000

At 31 December 2016

133,000

Cost or valuation at 31 December 2017 is represented by:

Other

investments

£

Valuation in 2014

71,308

Valuation in 2015

28,000

Valuation in 2016

17,000

Cost

16,692

133,000

If fixed asset investments had not been revalued they would have been included at the following

historical cost:

31.12.17

31.12.16

£

£

Cost

16,692

16,692

The investment in unlisted shares is stated at fair value determined by the latest share allotment price.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2017

and 31 December 2017

250,000

NET BOOK VALUE

At 31 December 2017

250,000

At 31 December 2016

250,000

If the property were to be sold at its valuation, it is unlikely that a corporation tax liability would arise.

Fair value at 31 December 2017 is represented by:

£

Valuation in 2011

83,240

Cost

166,760

250,000

If the investment property had not been revalued it would have been included at the following historical

cost:

31.12.17

31.12.16

£

£

Cost

166,760

166,760

The investment property was valued on an open market basis on 31 December 2011 by the directors .

The directors do not consider that there has been any material change in the property valuation since

2011. As there is no intention to dispose of the property, the directors do not consider that it is cost

effective to obtain a professional valuation of the property at this time.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

17,592

-

Other debtors

2,336

1,909

19,928

1,909

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

212,673

159,304

Taxation and social security

9,481

4,353

Other creditors

7,952

5,900

230,106

169,557

9.	SECURED DEBTS

The company's bankers hold a standard security over the company's property together with a bond

and floating charge. At both 31 December 2017 and 31 December 2016 there was no overdraft or

loans outstanding.

10.	PROVISIONS FOR LIABILITIES

31.12.17

31.12.16

£

£

Deferred tax

Other timing differences

16,100

16,500

Deferred

tax

£

Balance at 1 January 2017

16,500

Arising on revaluation to fair

value of investments

(400

)

Balance at 31 December 2017

16,100

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2017

(28,792

)

183,049

154,257

Profit for the year

46,724

-

46,724

Transfer between retained and fair value reserve re net gain on investments/def tax mvt

(400

)

400

-

At 31 December 2017

17,532

183,449

200,981

12.	ULTIMATE CONTROLLING PARTY

The controlling party is R B Bowie.