Newton Mearns Projects Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC452749 (Scotland)

Financial Statements for the Year Ended 30 June 2018

for

Newton Mearns Projects Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Bakhsh

REGISTERED OFFICE:

Trident House

175 Renfrew Road

PAISLEY

Renfrewshire

PA3 4EF

REGISTERED NUMBER:

SC452749 (Scotland)

FIXED ASSETS

Investment property

4

-

4,892,323

CURRENT ASSETS

Work in Progress

6,648,065

254,701

Debtors

5

825,051

762,274

Prepayments and accrued income

1,744

-

Cash at bank and in hand

504,940

5,417

7,979,800

1,022,392

CREDITORS

Amounts falling due within one year

6

8,274,018

6,084,734

NET CURRENT LIABILITIES

(294,218

)

(5,062,342

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(294,218

)

(170,019

)

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

(294,318

)

(170,119

)

SHAREHOLDERS' FUNDS

(294,218

)

(170,019

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 29 March 2019 and were signed by:

S Bakhsh - Director

1.	STATUTORY INFORMATION

Newton Mearns Projects 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The company has a net deficit on the balance sheet of £297,143. However, the going concern basis of

preparation is appropriate as the director and the company's creditors continue to support the business.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Work in progress

Work in progress represents the fair value of all work carried out on incomplete property development at the

balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - NIL ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2017

4,892,323

Reclassification/transfer

(4,892,323

)

At 30 June 2018

-

NET BOOK VALUE

At 30 June 2018

-

At 30 June 2017

4,892,323

Redevelopment work commenced on the investment property during the year, and the property has been

reclassified as work in progress to reflect this fact.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

Other debtors

825,051

762,274

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

Trade creditors

103,426

-

Other creditors

8,170,592

6,084,734

8,274,018

6,084,734

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.18

30.6.17

value:

£

100

Ordinary

£1

100

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director Shazad Bakhsh made loans to the company worth £150,000 and received repayments of £140,000

in the year, resulting in a closing balance of £86,061 (2017: £76,061) owed by the company at the balance sheet

date.