ACCOUNTS - Final Accounts preparation

MB EDINBURGH INVESTMENTS LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2018-01-312018-01-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-02-01 SC495471 2017-02-01 2018-01-31 SC495471 2018-01-31 SC495471 2016-02-01 2017-01-31 SC495471 2017-01-31 SC495471 2016-02-01 SC495471 c:Director1 2017-02-01 2018-01-31 SC495471 d:CurrentFinancialInstruments 2018-01-31 SC495471 d:CurrentFinancialInstruments 2017-01-31 SC495471 d:CurrentFinancialInstruments d:WithinOneYear 2018-01-31 SC495471 d:CurrentFinancialInstruments d:WithinOneYear 2017-01-31 SC495471 d:ShareCapital 2018-01-31 SC495471 d:ShareCapital 2017-01-31 SC495471 d:ShareCapital 2016-02-01 SC495471 d:RetainedEarningsAccumulatedLosses 2017-02-01 2018-01-31 SC495471 d:RetainedEarningsAccumulatedLosses 2018-01-31 SC495471 d:RetainedEarningsAccumulatedLosses 2016-02-01 2017-01-31 SC495471 d:RetainedEarningsAccumulatedLosses 2017-01-31 SC495471 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2018-01-31 SC495471 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2017-01-31 SC495471 c:FRS102 2017-02-01 2018-01-31 SC495471 c:AuditExempt-NoAccountantsReport 2017-02-01 2018-01-31 SC495471 c:FullAccounts 2017-02-01 2018-01-31 SC495471 c:PrivateLimitedCompanyLtd 2017-02-01 2018-01-31 iso4217:GBP

Company Registration Number SC495471

	MB EDINBURGH INVESTMENTS LIMITED

	UNAUDITED FINANCIAL STATEMENTS

	31 JANUARY 2018

MB EDINBURGH INVESTMENTS LIMITED

REGISTERED NUMBER: SC495471

STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2018

		2018		2017
Note		£		£


Current assets
Stocks	3	327,840		187,000
Cash at bank and in hand	4	2,392		400
		330,232		187,400
Creditors: amounts falling due within one year	5	(317,590)		(187,750)
Net current assets/(liabilities)			12,642		(350)
Total assets less current liabilities			12,642		(350)

Net assets/(liabilities)			12,642		(350)

Capital and reserves
Called up share capital	7	400	400
Profit and loss account		12,242	(750)
		12,642	(350)

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Mr Rory Euan Ballantyne

Director

Date: 30 November 2018

The notes on pages 4 to 7 form part of these financial statements.

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MB EDINBURGH INVESTMENTS LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JANUARY 2018

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 February 2017	400	(750)	(350)
Comprehensive income for the year
Profit for the year	-	12,992	12,992
Other comprehensive income for the year	-	-	-
Total comprehensive income for the year	-	12,992	12,992
Total transactions with owners	-	-	-
At 31 January 2018	400	12,242	12,642

The notes on pages 4 to 7 form part of these financial statements.

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MB EDINBURGH INVESTMENTS LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 JANUARY 2017

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 February 2016	400	-	400
Comprehensive income for the year
Loss for the year	-	(750)	(750)
Other comprehensive income for the year	-	-	-
Total comprehensive income for the year	-	(750)	(750)
Total transactions with owners	-	-	-
At 31 January 2017	400	(750)	(350)

The notes on pages 4 to 7 form part of these financial statements.

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MB EDINBURGH INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

1.	General information

MB Edinburgh Investments Ltd is a private company, limited by shares, registered in Scotland. The Company's registered number is SC495471. The Company's registered office and principal place of business is 30 Stafford Street, Edinburgh, EH3 7BD.

These financial statements have been prepared in pound sterling as this is the currency of the primary economic environment in which the company operates.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Significant judgements and estimates

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies. The areas requiring a higher degree of judgement, or complexity, and areas where assumption or estimates are most significant to the financial statements are disclosed below:
Stock
In the Director's judgement the method of valuing stock, held for resale, is appropriate based on their knowledge of the current market.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the company has transferred the significant risks and rewards of ownership to the buyer;

∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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MB EDINBURGH INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

2.Accounting policies (continued)

2.4

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

2.5

Stock

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase, including labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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MB EDINBURGH INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

2.Accounting policies (continued)

2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

3.	Stocks
		2018	2017
		£	£

Work in progress	327,840	187,000
	327,840	187,000

4.	Cash and cash equivalents
		2018	2017
		£	£

Cash at bank and in hand	2,392	400
	2,392	400

5.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Corporation tax	3,200	-
Other creditors	313,390	187,000
Accruals and deferred income	1,000	750
	317,590	187,750

6.	Financial instruments
		2018	2017
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	2,392	400

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MB EDINBURGH INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

7.	Share capital
		2018	2017
		£	£

Allotted, called up and fully paid

400 (2017 - 400) Ordinary shares of £1.00 each	400	400

8.	Related party transactions
	At year end the company owed £313,390 (2017: £187,000) to a related party. The companies are connected through a shareholder of this company, who is a director of the related party.

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