Antaeus Developments Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC369881 (Scotland)

ANTAEUS DEVELOPMENTS LTD.

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W M Reid

J S Reid

REGISTERED OFFICE:

162 Glenpark Street

Glasgow

G31 1PG

REGISTERED NUMBER:

SC369881 (Scotland)

ACCOUNTANTS:

JRD Partnership Ltd

Chartered Accountants

11 Portland Road

Kilmarnock

Ayrshire

KA1 2BT

BANKERS:

Bank Of Scotland

The Direct Business Bank

PO Box 1000

BX2 1LB

FIXED ASSETS

Investment property

3

361,604

294,945

CURRENT ASSETS

Debtors

4

6,776

4,882

Cash at bank

3,621

20,869

10,397

25,751

CREDITORS

Amounts falling due within one year

5

179,056

138,682

NET CURRENT LIABILITIES

(168,659

)

(112,931

)

TOTAL ASSETS LESS CURRENT LIABILITIES

192,945

182,014

CREDITORS

Amounts falling due after more than one year

6

100,000

105,080

NET ASSETS

92,945

76,934

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

7

80,174

80,174

Retained earnings

12,671

(3,340

)

SHAREHOLDERS' FUNDS

92,945

76,934

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 13th September 2019 and were signed on its behalf by:

J S Reid - Director

1.	STATUTORY INFORMATION

Antaeus Developments 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 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 as modified by the revaluation of certain assets.

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 shown as a revaluation reserve to distinguish this from distributable profits.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2018

294,945

Additions

66,659

At 31st December 2018

361,604

NET BOOK VALUE

At 31st December 2018

361,604

At 31st December 2017

294,945

Fair value at 31st December 2018 is represented by:

£

Valuation in 2015

80,174

Cost

281,430

361,604

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

6,776

-

Other debtors

-

4,882

6,776

4,882

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

60

600

Taxation and social security

5,054

6,230

Other creditors

173,942

131,852

179,056

138,682

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

100,000

105,080

7.

RESERVES

Revaluation

reserve

£

At 1st January 2018

and 31st December 2018

80,174

8.	OTHER INFORMATION

An adjustment has been made between investment properties cost and trade creditors in respect of a prior year

overstatement (relating to the year ended 31 December 2015). This has no impact on the company's results or

corporation tax position. FRS 102 has been adopted with effect from 1 January 2016 and the 2017 comparative

figures restated accordingly in respect of the valuation of investment properties. Investment property additions

during the 2018 financial year represent an acquisition from an associated company and based on valuation

carried out prior to the purchase. The directors consider all properties to represent the fair value at the balance

sheet date.

9.	RELATED PARTY DISCLOSURES

Other creditors (note 6) also includes £105,000 due to Mr I W Reid, a shareholder and relative of the Directors,

£10,000 due to J S Reid director/shareholder and £30,000 due to Mrs L Reid spouse of J S Reid. Loan interest

of £4,170 has been paid by the company in respect of these loans.

Other creditors (note 7) represents loan capital from the following related parties:

J S Reid - £25,000

W M Reid - £25,000

S K Young - £25,000

I W Reid - £25,000

These loans are not repayable within 1 year.

As noted above, property was acquired at fair value from William Reid & Sons (Wireworkers) Ltd. at a of

£65,000. J S Reid is a director and shareholder of this company.

10.	ULTIMATE CONTROLLING PARTY

The controlling parties are J S Reid, W M Reid, S K Young and I W Reid who each own 25% of the share

capital.