ACCOUNTS - Final Accounts

R & M BEARINGS INTERNATIONAL (HOLDINGS) LIMITED - Company Information

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Registered number: SC581599

R & M BEARINGS INTERNATIONAL (HOLDINGS) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2020

R & M BEARINGS INTERNATIONAL (HOLDINGS) LIMITED

COMPANY INFORMATION

Directors	Nikki Gallagher
	Stephen Martin
	Craig Robertson


Registered number	SC581599


Registered office	Warehouse 25
	1 Kilspindie Road
	Dunsinane Industrial Estate
	Dundee
	DD2 3QH

R & M BEARINGS INTERNATIONAL (HOLDINGS) LIMITED

CONTENTS

	Page
Balance Sheet	1 - 2
Notes to the Financial Statements	3 - 4

R & M BEARINGS INTERNATIONAL (HOLDINGS) LIMITED

REGISTERED NUMBER: SC581599

BALANCE SHEET

AS AT 31 MARCH 2020

		2020		2019
Note		£		£

Fixed assets
Investments	4		550,000		550,000
			550,000		550,000
Current assets
Cash at bank and in hand	5	100		100
		100		100
Creditors: amounts falling due within one year	6	(550,000)		(550,000)
Net current liabilities			(549,900)		(549,900)
Total assets less current liabilities			100		100

Net assets			100		100

Capital and reserves
Called up share capital	7	100	100
		100	100

Page 1

R & M BEARINGS INTERNATIONAL (HOLDINGS) LIMITED

REGISTERED NUMBER: SC581599

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2020

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 August 2020.

Craig Robertson

Director

The notes on pages 3 to 4 form part of these financial statements.

Page 2

R & M BEARINGS INTERNATIONAL (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2020

1.	General information

R&M Bearings International (Holdings) limited is a registered private company limited by shares, incorporated in Scotland within the United Kingdom (company number SC581599). The address of the registered office is given in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.4

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Employees

The average monthly number of employees, including directors, during the period was 3 (2019 - 3).

Page 3

R & M BEARINGS INTERNATIONAL (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2020

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2019	550,000
	At 31 March 2020	550,000

5.	Cash and cash equivalents
		2020	2019
		£	£

Cash at bank and in hand	100	100
	100	100

6.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Amounts owed to group undertakings	320,000	260,000
Other creditors	230,000	290,000
	550,000	550,000

7.	Share capital
		2020	2019
		£	£

Authorised, allotted, called up and fully paid

100 (2019 - 100) Ordinary shares of £1.00 each	100	100

Page 4