GMR Property (Peterhead) Ltd - Accounts to registrar

REGISTERED NUMBER: SC173377 (Scotland)

Financial Statements for the Year Ended 31 March 2017

for

GMR Property (Peterhead) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

G A Rennie

REGISTERED OFFICE:

Dunit

Station Terrace

Longside

Peterhead

ABERDEENSHIRE

AB42 4UE

REGISTERED NUMBER:

SC173377 (Scotland)

ACCOUNTANTS:

J M Taylor

7 Ythan Terrace

Ellon

ABERDEENSHIRE

AB41 9LJ

FIXED ASSETS

Tangible assets

3

32,050

35,910

CURRENT ASSETS

Debtors

4

191,917

184,418

Cash at bank

9,814

4,687

201,731

189,105

CREDITORS

Amounts falling due within one year

5

54,247

58,341

NET CURRENT ASSETS

147,484

130,764

TOTAL ASSETS LESS CURRENT
LIABILITIES

179,534

166,674

PROVISIONS FOR LIABILITIES

6,410

7,182

NET ASSETS

173,124

159,492

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

173,122

159,490

SHAREHOLDERS' FUNDS

173,124

159,492

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 19 June 2017 and were signed by:

G A Rennie - Director

1.	STATUTORY INFORMATION

GMR Property (Peterhead) Ltd 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.

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

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

Land and buildings

-

4% on 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 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.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2016

and 31 March 2017

96,500

7,000

103,500

DEPRECIATION

At 1 April 2016

60,590

7,000

67,590

Charge for year

3,860

-

3,860

At 31 March 2017

64,450

7,000

71,450

NET BOOK VALUE

At 31 March 2017

32,050

-

32,050

At 31 March 2016

35,910

-

35,910

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Other debtors

191,917

184,418

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Taxation and social security

4,178

4,138

Other creditors

50,069

54,203

54,247

58,341

6.	RELATED PARTY DISCLOSURES

During the year the company traded with GMR Seafoods Limited, a company controlled by Gordon and Morag

Rennie. Details of transactions with this company during the year, and of amounts due to or from the companies

ar 31st March are as follows:

2017

2016

Sales to GMR Seafoods Ltd

£21,000

Balance due by GMR Seafoods Ltd

£191,917

£184,417

7.	ULTIMATE CONTROLLING PARTY

Gordon A Rennie a director, together with members of his close family, control the company by virtue of a

controlling interest (directly or indirectly) of 100% of the issued ordinary share capital.