Ferguson & Rippin Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC059422 (Scotland)

ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2019

FOR

FERGUSON & RIPPIN LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Fitzpatrick

SECRETARY:

J Fitzpatrick

REGISTERED OFFICE:

43 Polnoon Street

Eaglesham

Glasgow

G76 0BB

REGISTERED NUMBER:

SC059422 (Scotland)

ACCOUNTANTS:

McDaid & Partners

Chartered Accountants

Stanley House

69/71 Hamilton Road

Motherwell

ML1 3DG

FIXED ASSETS

Investments

4

225,368

226,009

Investment property

5

250,000

117,355

475,368

343,364

CURRENT ASSETS

Debtors

10,692

10,472

Cash at bank

27,684

24,783

38,376

35,255

CREDITORS

Amounts falling due within one year

11,639

10,490

NET CURRENT ASSETS

26,737

24,765

TOTAL ASSETS LESS CURRENT
LIABILITIES

502,105

368,129

PROVISIONS FOR LIABILITIES

25,203

-

NET ASSETS

476,902

368,129

CAPITAL AND RESERVES

Called up share capital

1,000

Fair value reserve

6

132,645

-

Retained earnings

343,257

367,129

SHAREHOLDERS' FUNDS

476,902

368,129

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 November 2019 and were signed by:

J Fitzpatrick - Director

1.	STATUTORY INFORMATION

Ferguson & Rippin 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 as modified by the revaluation of certain assets.

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.

Other investments

Investments are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair

value is recongnised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1 March 2018

226,009

Fair value movement

(641

)

At 28 February 2019

225,368

NET BOOK VALUE

At 28 February 2019

225,368

At 28 February 2018

226,009

Cost or valuation at 28 February 2019 is represented by:

Totals

£

Valuation in 2016

(2,727

)

Valuation in 2017

25,306

Valuation in 2018

6,430

Valuation in 2019

(641

)

Cost

197,000

225,368

If other investments had not been valued at fair value they would have been included at the following historic

cost:-

28.2.19

28.2.18

£

Cost

197,000

Other investments were valued at fair value on 28 February 2019 by 1825 Active Wealth Management.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2018

117,355

Revaluations

132,645

At 28 February 2019

250,000

NET BOOK VALUE

At 28 February 2019

250,000

At 28 February 2018

117,355

Fair value at 28 February 2019 is represented by:

£

Valuation in 2019

132,645

Cost

117,355

250,000

If investment property had not been revalued it would have been included at the following historical cost:

28.2.19

28.2.18

£

Cost

117,355

Investment property was valued on an open market basis on 28 February 2019 by the director .

6.

RESERVES

Fair

value

reserve

£

Investment property revalued

132,645

At 28 February 2019

132,645

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2019 and

28 February 2018:

28.2.19

28.2.18

£

J Fitzpatrick

Balance outstanding at start of year

5,753

4,705

Amounts advanced

1,080

Amounts repaid

(121

)

(32

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

6,712

5,753

The directors loan is given interest free and is repayable on demand.

Ferguson & Rippin Limited - Accounts to registrar (filleted) - small 18.2

Ferguson & Rippin Limited - Accounts to registrar (filleted) - small 18.2