Robt. Jones Scotland Limited - Period Ending 2018-03-31

Registration number: SC559396

Robt. Jones Scotland Limited

Annual Report and Unaudited Financial Statements

for the Period from 3 March 2017 to 31 March 2018

Robt. Jones Scotland Limited

Contents

Statement of Financial Position	1
Notes to the Financial Statements	2 to 4

Robt. Jones Scotland Limited

(Registration number: SC559396)
Statement of Financial Position as at 31 March 2018

	Note	2018 £
Fixed assets
Tangible assets	4	367,375
Investment property	5	1,412,471
		1,779,846
Current assets
Debtors	6	150,143
Cash at bank and in hand		47,755
		197,898
Creditors: Amounts falling due within one year	7	(1,598,809)
Net current liabilities		(1,400,911)
Net assets		378,935
Capital and reserves
Called up share capital		560,920
Profit and loss account		(181,985)
Total equity		378,935

For the financial period ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the director on 28 February 2019
 

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

D Rankin
Director

The notes on pages 2 to 4 form an integral part of these financial statements.

Page 1

Robt. Jones Scotland Limited

Notes to the Financial Statements for the Period from 3 March 2017 to 31 March 2018

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Allan House
25 Bothwell Street
Glasgow
G2 6NL
Scotland

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Rental income from investment property is recognised in the Statement of Income on a straight line basis over the term of the lease. Lease incentives granted are recognised as an integral part of total rental income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Page 2

Robt. Jones Scotland Limited

Notes to the Financial Statements for the Period from 3 March 2017 to 31 March 2018

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4	Tangible assets

	Land and buildings £	Total £
Cost or valuation
Additions	367,375	367,375
At 31 March 2018	367,375	367,375
Depreciation
Carrying amount
At 31 March 2018	367,375	367,375

Included within the net book value of land and buildings above is £367,375 in respect of freehold land and buildings.
 

Page 3

Robt. Jones Scotland Limited

Notes to the Financial Statements for the Period from 3 March 2017 to 31 March 2018

5	Investment properties

	2018 £
Additions	1,412,471
At 31 March 2018	1,412,471

The director considers the acquisition cost of the property during the period to reflect the fair value of the property at the balance sheet date.

6

Debtors

	2018 £
Trade debtors	26,515
Prepayments	650
Other debtors	122,978
	150,143

7

Creditors

Creditors: amounts falling due within one year

	2018 £
Due within one year
Trade creditors	30,992
Accruals and deferred income	119,619
Other creditors	1,448,198
	1,598,809

Page 4