Loanhead Properties Ltd - Accounts to registrar (filleted) - small 18.2
Loanhead Properties Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 May 2018 |
| for |
| Loanhead Properties Ltd |
| Loanhead Properties Ltd (Registered number: SC302938) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Loanhead Properties Ltd |
| Company Information |
| for the Year Ended 31 May 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 7 Ythan Terrace |
| Ellon |
| Aberdeenshire |
| AB41 9LJ |
| Loanhead Properties Ltd (Registered number: SC302938) |
| Balance Sheet |
| 31 May 2018 |
| 31/5/18 | 31/5/17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| Loanhead Properties Ltd (Registered number: SC302938) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2018 |
| 1. | STATUTORY INFORMATION |
| Loanhead Properties Ltd is a |
| and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of 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. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Loanhead Properties Ltd (Registered number: SC302938) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 June 2017 |
| Additions |
| At 31 May 2018 |
| DEPRECIATION |
| At 1 June 2017 |
| Charge for year |
| At 31 May 2018 |
| NET BOOK VALUE |
| At 31 May 2018 |
| At 31 May 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/5/18 | 31/5/17 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/5/18 | 31/5/17 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £42,696 (2017 - £9,700) were paid to the directors . |
| During the year the director's Mr Frank Stephen & Mrs Alison Stephen advanced the company net amounts totalling |
| £172,397. This amount remained outstanding at 31/05/2018 and is included within Other creditors in the notes to the |
| accounts. |
| Loanhead Properties Ltd (Registered number: SC302938) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2018 |
| 8. | ULTIMATE CONTROLLING PARTY |
| During the year the company was controlled by the directors by virtue of their percentage holding in the ordinary share |
| capital of the company which is detailed below. |
| Mr Frank Stephen - 50% |
| Mrs Alison Stephen - 50% |