Merkland Tank Holdings Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC573000 (Scotland)

MERKLAND TANK HOLDINGS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

7 AUGUST 2017 TO 31 JANUARY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

J M Pirrie

B A Aitken

I A J Buchan

R Gibson

R E S Horne

A C Matheson

J S Pirrie

REGISTERED OFFICE:

221 West George Street

Glasgow

G2 2ND

REGISTERED NUMBER:

SC573000 (Scotland)

ACCOUNTANTS:

Hardie Caldwell LLP

Chartered Accountants

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

FIXED ASSETS

Investments

4

4,950,156

CURRENT ASSETS

Debtors

5

44,299

Cash at bank

1,758

46,057

CREDITORS

Amounts falling due within one year

6

348,000

NET CURRENT LIABILITIES

(301,943

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,648,213

CREDITORS

Amounts falling due after more than one year

7

2,016,815

NET ASSETS

2,631,398

CAPITAL AND RESERVES

Called up share capital

9

100,000

Retained earnings

2,531,398

SHAREHOLDERS' FUNDS

2,631,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2018 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 24 October 2018 and were signed on its behalf by:

I A J Buchan - Director

1.	STATUTORY INFORMATION

Merkland Tank Holdings Limited is a private company, limited by shares, registered in Scotland. The company's registered

number is SC573000 and its registered office is 221 West George Street, Glasgow, G2 2ND.

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.

Going concern

The directors having considered the company's working capital requirements have a reasonable expectation that the

company has adequate resources to continue for the foreseeable future and accordingly the directors continue to adopt the

going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Debtors

Trade and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable

amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of maturity, being

twelve months or less, from the opening of the deposit or similar account.

Creditors

Trade and other creditors are all recognised where the company has a present obligation resulting from a past event and are

recognised at the settlement amount due after allowing for any trade discounts due.

Loans

Loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using

the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

4,950,156

At 31 January 2018

4,950,156

NET BOOK VALUE

At 31 January 2018

4,950,156

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

15,000

Other debtors

29,299

44,299

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

10,500

Other creditors

337,500

348,000

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

2,016,815

Amounts falling due in more than five years:

Repayable by instalments

Loan notes

1,625,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Loan notes

1,625,000

The following security is held by Nevis Capital LLP, as security trustee, for £1,625,000 10% secured redeemable loan

notes:

- a floating charge over all the property or undertakings of the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100,000

Ordinary

£1

100,000

100,000 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

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 Merkland Tank Holdings Ltd for the period ended 31 January 2018 which comprise the Income Statement, Other

Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 Merkland Tank Holdings 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 Merkland Tank Holdings Ltd and state those matters that we have agreed to state to the Board of Directors of Merkland Tank Holdings 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 Merkland Tank Holdings 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 Merkland Tank Holdings Ltd. You consider that Merkland Tank Holdings Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Merkland Tank Holdings 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.

Hardie Caldwell LLP

Chartered Accountants

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

24 October 2018