Moness Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC198913 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

MONESS PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Report of the Accountants

5

DIRECTORS:

T L Vose

S J McKenzie

J McKenzie

K M Lockley

REGISTERED OFFICE:

Moness House Hotel and Country Club

Crieff Road

Aberfeldy

Perthshire

PH15 2DY

REGISTERED NUMBER:

SC198913 (Scotland)

ACCOUNTANTS:

Acumen Accountants and Advisors Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeenshire

AB12 4XX

FIXED ASSETS

Tangible assets

4

311,325

318,401

CURRENT ASSETS

Debtors

5

-

100

Cash at bank

3

361

3

461

CREDITORS

Amounts falling due within one year

6

420,923

419,728

NET CURRENT LIABILITIES

(420,920

)

(419,267

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(109,595

)

(100,866

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(109,695

)

(100,966

)

SHAREHOLDERS' FUNDS

(109,595

)

(100,866

)

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 25 September 2018 and were signed on its behalf by:

J McKenzie - Director

1.	STATUTORY INFORMATION

Moness Properties 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The presentation currency is sterling.

The financial statements have been prepared on a going concern basis. Although the balance sheet is in deficit of £109,595

(2016: £100,866), included within creditors there is a balance totalling £419,645 (2016: £418,712) owed to a group

company. These amounts will not be repaid until the company is in a position to do so. As a result the directors believe that

preparation of the financial statements on a going concern basis is applicable.

Tangible fixed assets

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

Land and buildings

-

2% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The

effect of any change is accounted for prospectively.

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.

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 January 2017

and 31 December 2017

353,780

DEPRECIATION

At 1 January 2017

35,379

Charge for year

7,076

At 31 December 2017

42,455

NET BOOK VALUE

At 31 December 2017

311,325

At 31 December 2016

318,401

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

Other debtors

-

100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Amounts owed to group undertakings

419,645

418,712

Other creditors

1,278

1,016

420,923

419,728

7.	SECURED DEBTS

Worldwide Leisure Group Limited holds standard securities over an area of ground on the north side of Moness Avenue and

an area on east side of A826 at Moness House Hotel and Country Club, Moness, Aberfeldy, PTH3066.

A floating charge is held by The Royal Bank of Scotland in respect of all the property and undertaking of Moness Properties

Limited.

The Royal Bank of Scotland holds standard securities over all and whole the two areas of ground at Moness Hotel and

Country Club, Moness, Aberfeldy, PH15 2DY.

8.	RELATED PARTY DISCLOSURES

During the year the company transacted with another member of the group, Moness Group Limited. Moness Group Limited

paid for invoices totalling £13 (2016: £26) on the company's behalf. Moness Group Limited also transferred cash totalling

£1,000 (2016: £1,238) to Moness Properties Limited during the year and Moness Properties Limited transferred cash

totalling £80 (2016: £nil) to Moness Group Limited. Moness Group Limited also uses properties owned by Moness

Properties Limited for which no rent is charged. The balance due to Moness Group Limited from Moness Properties Limited

at 31 December 2017 was £419,645 (2016: £418,712).

9.	ULTIMATE CONTROLLING PARTY

The director, T Vose is deemed to be the ultimate controlling party.

ULTIMATE PARENT COMPANY

The ultimate parent company is Vose Group Limited, a company incorporated in Scotland. The accounts of Vose Group
Limited are available from Moness House Hotel & Country Club, Crieff Road, Aberfeldy, Perthshire, PH15 2DY.

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 Statement of Comprehensive Income and certain other primary statements and the Report of

the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2017 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.