Aline Estate Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC137534 (Scotland)

ALINE ESTATE LIMITED

Financial Statements for the Year Ended 31 December 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J F Martin

P B Martin

SECRETARY:

REGISTERED OFFICE:

101 Rose Street

South Lane

Edinburgh

EH2 3JG

REGISTERED NUMBER:

SC137534 (Scotland)

FIXED ASSETS

Tangible assets

5

1,881,223

1,890,771

CURRENT ASSETS

Debtors

6

-

611

Cash at bank

679

4,292

679

4,903

CREDITORS

Amounts falling due within one year

7

4,986

1,020

NET CURRENT (LIABILITIES)/ASSETS

(4,307

)

3,883

TOTAL ASSETS LESS CURRENT LIABILITIES

1,876,916

1,894,654

CREDITORS

Amounts falling due after more than one year

8

2,625,024

2,600,384

NET LIABILITIES

(748,108

)

(705,730

)

CAPITAL AND RESERVES

Called up share capital

1,124,500

1,124,500

Retained earnings

(1,872,608

)

(1,830,230

)

SHAREHOLDERS' FUNDS

(748,108

)

(705,730

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2020 and were signed on its behalf by:

J F Martin - Director

1.	STATUTORY INFORMATION

Aline Estate 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The financial statements are rounded to the nearest £1.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover comprises the value of sporting rental and accommodation income for the period excluding Value

Added Tax.

Tangible fixed assets

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

Boats

-

10% on reducing balance

Furniture and fittings

-

10% on reducing balance

Motor vehicles

-

25% depreciation on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Furniture

Freehold

and

Motor

property

Boats

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2019

and 31 December 2019

1,806,468

119,549

260,855

86,746

2,273,618

DEPRECIATION

At 1 January 2019

-

88,083

213,068

81,696

382,847

Charge for year

-

3,147

5,139

1,262

9,548

At 31 December 2019

-

91,230

218,207

82,958

392,395

NET BOOK VALUE

At 31 December 2019

1,806,468

28,319

42,648

3,788

1,881,223

At 31 December 2018

1,806,468

31,466

47,787

5,050

1,890,771

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

VAT

-

611

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

715

-

Social security and other taxes

353

-

Wages control acc

214

-

VAT

355

-

Accruals and deferred income

2,569

-

Accrued expenses

780

1,020

4,986

1,020

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.19

31.12.18

£

£

Directors' loan accounts

2,625,024

2,600,384

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet the company owed the sum of £2,519,970 (2015: £2,474,604) to its directors. No interest

has been charged on this outstanding loan, and no fixed repayment dates are in place.

10.	ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Mr J F Martin by virtue of his ownership of 100% of the issued share

capital in the company.