E-Reserve Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC324972 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 July 2017

for

E-Reserve Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A M Richardson

SECRETARY:

B Richardson

REGISTERED OFFICE:

6 Logie Mill

Edinburgh

EH7 4HG

REGISTERED NUMBER:

SC324972 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Tangible assets

4

25,523

2,228

Investments

5

400,814

392,213

426,337

394,441

CURRENT ASSETS

Debtors

6

544

653

Cash at bank

107,891

46,531

108,435

47,184

CREDITORS

Amounts falling due within one year

7

11,220

30,102

NET CURRENT ASSETS

97,215

17,082

TOTAL ASSETS LESS CURRENT LIABILITIES

523,552

411,523

PROVISIONS FOR LIABILITIES

19,999

7,267

NET ASSETS

503,553

404,256

CAPITAL AND RESERVES

Called up share capital

8

2

2

Fair value reserve

9

97,994

34,115

Retained earnings

9

405,557

370,139

SHAREHOLDERS' FUNDS

503,553

404,256

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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 director on 18 April 2018 and were signed by:

A M Richardson - Director

1.	STATUTORY INFORMATION

E-Reserve 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, modified to include certain items at fair value.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31 July 2017 are the first that are prepared in accordance with FRS

102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 1 August 2015.

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 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:

Motor Vehicles

-

20% on cost

Computer Equipment

-

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 has only 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.

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.

Fixed asset investments

Investments are measured at fair value through profit or loss. Where fair value cannot be measured reliably,

investments are measured at cost less impairment.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past

event, it is probable that the company will be required to settle that obligation and a reliable estimate can be

made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present

obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 August 2016

-

13,212

13,212

Additions

30,129

358

30,487

At 31 July 2017

30,129

13,570

43,699

DEPRECIATION

At 1 August 2016

-

10,984

10,984

Charge for year

6,026

1,166

7,192

At 31 July 2017

6,026

12,150

18,176

NET BOOK VALUE

At 31 July 2017

24,103

1,420

25,523

At 31 July 2016

-

2,228

2,228

5.	FIXED ASSET INVESTMENTS

31.7.17

31.7.16

£

£

Other investments not loans

400,814

392,213

Additional information is as follows:

Listed

investments

£

COST OR VALUATION

At 1 August 2016

391,859

Additions

7,979

Disposals

(61,207

)

Revaluations

62,139

At 31 July 2017

400,770

NET BOOK VALUE

At 31 July 2017

400,770

At 31 July 2016

391,859

Listed investments represent investments in ordinary shares. The fair value of listed investments was determined

with reference to the quoted market price at the reporting date.

Market value of listed investments at 31 July 2017 - £ 400,770 .

Investments (neither listed nor unlisted) were as follows:

31.7.17

31.7.16

£

£

Investment deposit account

44

354

Market value of listed investments at 31 July 2017 - £400.770. (2016 : £391,859)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade debtors

544

653

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Taxation and social security

9,549

28,701

Other creditors

1,671

1,401

11,220

30,102

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.17

31.7.16

value:

£

£

2

Ordinary

£1

2

2

9.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 August 2016

370,139

34,115

404,254

Profit for the year

109,297

109,297

Dividends

(10,000

)

(10,000

)

Transfer to Fair Value

Reserve

(63,879

)

63,879

-

At 31 July 2017

405,557

97,994

503,551

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

In 2017, there were no transactions between E-Reserve Ltd and Mr. A. Richardson.

The balance outstanding at the end of the year is £51.00 owed to Mr A. Richardson.

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 (2016 - £10,000) were paid to the director .

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A M Richardson.

13.	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 01/08/2015.