La Giettaz Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC311333 (Scotland)

La Giettaz Properties Limited

Unaudited Financial Statements

for the Year Ended 30 April 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E S Wales

N M Henderson

T R Cole

J Wilkie

SECRETARY:

K Murdoch

REGISTERED OFFICE:

3 Forth Street Lane

North Berwick

EH39 4JB

REGISTERED NUMBER:

SC311333 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

Clydesdale Bank PLC

30 Waterloo Street

Glasgow

G2 6DB

FIXED ASSETS

Investments

3

2,285,866

2,297,866

CURRENT ASSETS

Cash at bank

3,099

2,778

CREDITORS

Amounts falling due within one year

4

2,112,870

2,112,566

NET CURRENT LIABILITIES

(2,109,771

)

(2,109,788

)

TOTAL ASSETS LESS CURRENT LIABILITIES

176,095

188,078

CAPITAL AND RESERVES

Called up share capital

240,000

240,000

Retained earnings

(63,905

)

(51,922

)

SHAREHOLDERS' FUNDS

176,095

188,078

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 30 January 2019 and were signed on its behalf by:

J Wilkie - Director

1.	STATUTORY INFORMATION

La Giettaz 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.	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.

Preparation of consolidated financial statements

The financial statements contain information about La Giettaz Properties Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The

company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to

prepare consolidated financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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

Monetary 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.

Non-monetary assets and liabilities in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction.

Financial instruments

Financial Instruments are classified and accounted for according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity

instrument is any contract that evidences a residual interest in the assets of the company after

deducting all of its liabilities.

Included within bank loans are arrangement fees that are being amortised over the life of the loan.

3.	FIXED ASSET INVESTMENTS

2018

2017

£

£

Shares in group undertakings

5,020

5,020

Loans to group undertakings

2,280,846

2,292,846

2,285,866

2,297,866

Additional information is as follows:

Shares in

group

undertakings

£

COST

At 1 May 2017

and 30 April 2018

5,020

NET BOOK VALUE

At 30 April 2018

5,020

At 30 April 2017

5,020

Loans to

group

undertakings

£

At 1 May 2017

2,292,846

Repayment in year

(12,000

)

At 30 April 2018

2,280,846

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

146

146

Other creditors

2,112,724

2,112,420

2,112,870

2,112,566

Loans from participating interests and directors' current accounts included within other creditors

are unsecured and have no fixed term of repayment. In the main they are interest free although

some attract an interest charge between 2.5% and 10% per annum.