Adelphi Scott Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC431119 (Scotland)

Unaudited Financial Statements for the Year Ended 31 October 2018

for

Adelphi Scott Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R A Keane

REGISTERED OFFICE:

19 Adelphi

Aberdeen

Aberdeenshire

AB11 5BL

REGISTERED NUMBER:

SC431119 (Scotland)

FIXED ASSETS

Investment property

4

11,399,221

3,076,196

CURRENT ASSETS

Stocks

893

-

Debtors

5

96,000

58,746

Cash at bank

41,433

9,170

138,326

67,916

CREDITORS

Amounts falling due within one year

6

115,159

51,295

NET CURRENT ASSETS

23,167

16,621

TOTAL ASSETS LESS CURRENT LIABILITIES

11,422,388

3,092,817

CREDITORS

Amounts falling due after more than one year

7

7,019,456

2,084,175

NET ASSETS

4,402,932

1,008,642

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

8

4,223,000

952,000

Retained earnings

179,930

56,640

SHAREHOLDERS' FUNDS

4,402,932

1,008,642

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Income Statement has not been delivered.

The financial statements were approved by the director on 1 July 2019 and were signed by:

R A Keane - Director

1.	STATUTORY INFORMATION

Adelphi Scott 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2017

3,076,196

Additions

8,323,025

At 31 October 2018

11,399,221

NET BOOK VALUE

At 31 October 2018

11,399,221

At 31 October 2017

3,076,196

5.

DEBTORS

31.10.18

31.10.17

£

£

Amounts falling due within one year:

Other debtors

10,745

42,877

Amounts falling due after more than one year:

Other debtors

85,255

15,869

Aggregate amounts

96,000

58,746

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Trade creditors

18,696

10,252

Taxation and social security

26,449

13,036

Other creditors

70,014

28,007

115,159

51,295

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.18

31.10.17

£

£

Bank loans

7,000,000

2,070,000

Other creditors

19,456

14,175

7,019,456

2,084,175

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

6,744,997

1,799,997

8.

RESERVES

Revaluation

reserve

£

At 1 November 2017

952,000

Revaluation

3,271,000

At 31 October 2018

4,223,000