West Glenalmond Energy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08354236 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

WEST GLENALMOND ENERGY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M J K Montgomerie

SECRETARY:

K Burns

REGISTERED OFFICE:

37 Anhalt Road

London

SW11 4NZ

REGISTERED NUMBER:

08354236 (England and Wales)

ACCOUNTANTS:

Stewart Gilmour & Co.,

Chartered Accountants

24 Beresford Terrace

Ayr

KA7 2EG

FIXED ASSETS

Tangible assets

3

1,116,435

1,170,527

CURRENT ASSETS

Debtors

4

118,409

96,215

Cash at bank

29,568

54,905

147,977

151,120

CREDITORS

Amounts falling due within one year

5

1,354,139

1,388,607

NET CURRENT LIABILITIES

(1,206,162

)

(1,237,487

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(89,727

)

(66,960

)

PROVISIONS FOR LIABILITIES

6

30,727

29,161

NET LIABILITIES

(120,454

)

(96,121

)

CAPITAL AND RESERVES

Called up share capital

2,500

2,500

Retained earnings

(122,954

)

(98,621

)

SHAREHOLDERS' FUNDS

(120,454

)

(96,121

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 23 December 2019 and were signed by:

M J K Montgomerie - Director

1.	STATUTORY INFORMATION

West Glenalmond Energy Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Going concern

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.

The financial statements have been prepared on the going concern basis which assumes that the company will

continue to operate for the foreseeable future. At the year end the company's current liabilities exceeded its

current assets by £1,206,162 including £619 owed to director MJK Montgomerie. The company is thus

dependent on the continued support of Mr Montgomerie to meet its day to day working capital requirement and

as he will continue to provide this support he considers it appropriate to prepare the financial statements on a

going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

4% on cost

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.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 April 2018

and 31 March 2019

1,352,305

DEPRECIATION

At 1 April 2018

181,778

Charge for year

54,092

At 31 March 2019

235,870

NET BOOK VALUE

At 31 March 2019

1,116,435

At 31 March 2018

1,170,527

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

118,409

96,215

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

1,306,889

1,338,012

Trade creditors

3,800

3,780

Taxation and social security

17,758

9,141

Other creditors

25,692

37,674

1,354,139

1,388,607

6.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

30,727

29,161

Deferred

tax

£

Balance at 1 April 2018

29,161

Provided during year

1,566

Balance at 31 March 2019

30,727

7.	RELATED PARTY DISCLOSURES

M J K Montgomerie

Throughout the year ended 31st March 2019 the company was under the immediate and ultimate control of

director MJK Montgomerie who along with members of his immediate family own 100% of the Share Capital.

As at 31st March 2019 the company owed £619 to the family of MJK Montgomeire (2018:£17,601) through

their loan accounts. These loans are unsecured, interest free and have no fixed terms for repayment.

2019

2018

£

£

Amount due to related party at the balance sheet date

619

17,601