Company Registration No. SC251010 (Scotland)
The Shilling Group (Edinburgh) Ltd
Unaudited accounts
for the year ended 31 October 2019
The Shilling Group (Edinburgh) Ltd
Unaudited accounts
Contents
The Shilling Group (Edinburgh) Ltd
Company Information
for the year ended 31 October 2019
Company Number
SC251010 (Scotland)
Registered Office
27 Laurieston Street
Edinburgh
EH3 9DQ
Accountants
Oak Team Associates Limited
272 Bath Street
Glasgow
G2 4JR
The Shilling Group (Edinburgh) Ltd
Statement of financial position
as at 31 October 2019
Tangible assets
1,198,656
1,446,496
Cash at bank and in hand
1,487
2,378
Creditors: amounts falling due within one year
(292,090)
(144,783)
Net current assets
26,447
150,345
Total assets less current liabilities
1,532,823
1,596,841
Creditors: amounts falling due after more than one year
(633,616)
(932,470)
Net assets
899,207
664,371
Called up share capital
2
2
Revaluation reserve
641,915
437,253
Profit and loss account
257,290
227,116
Shareholders' funds
899,207
664,371
For the year ending 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 October 2020 and were signed on its behalf by
Michael McGuigan
Director
Company Registration No. SC251010
The Shilling Group (Edinburgh) Ltd
Notes to the Accounts
for the year ended 31 October 2019
The Shilling Group (Edinburgh) Ltd is a private company, limited by shares, registered in Scotland, registration number SC251010. The registered office is 27 Laurieston Street, Edinburgh, EH3 9DQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
6.67% on leasehold improvements on a straight line basis
Plant & machinery
20% on a straight line basis
Fixtures & fittings
25% on a straight line basis
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2018
1,463,030
59,350
95,568
1,617,948
Disposals
(245,338)
-
-
(245,338)
At 31 October 2019
1,217,692
59,350
95,568
1,372,610
At 1 November 2018
19,036
56,848
95,568
171,452
Charge for the year
-
2,502
-
2,502
At 31 October 2019
19,036
59,350
95,568
173,954
At 31 October 2019
1,198,656
-
-
1,198,656
At 31 October 2018
1,443,994
2,502
-
1,446,496
The Shilling Group (Edinburgh) Ltd
Notes to the Accounts
for the year ended 31 October 2019
5
Investments
Other investments
Valuation at 1 November 2018
-
Valuation at 31 October 2019
307,720
Amounts due from group undertakings etc.
234,050
209,750
Other debtors
83,000
83,000
7
Creditors: amounts falling due within one year
2019
2018
Taxes and social security
7,368
93,195
Loans from directors
60,880
51,588
8
Creditors: amounts falling due after more than one year
2019
2018
Bank loans
633,616
932,470
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Transactions with related parties
The Shilling Group Trading Limited owed the sum of £209,750 as at 1 November 2017. No sums were received during the year and the balance remained outstanding at the year end. This loan is interest free and has no fixed date for repayment.
Mr McGuigan was due the sum of £110,995 as at 1 November 2017. The sum of £59,407 was repaid to Mr McGuigan and the balance of £51,588 was outstanding at the year end. This loan is interest free and has no fixed date for repayment.
11
Average number of employees
During the year the average number of employees was 0 (2018: 0).
