Isle of Mingay Limited - Period Ending 2022-02-28

Isle of Mingay Limited

Balance Sheet

28 February 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	3	48,535	48,535
Current assets
Cash at bank and in hand		1	1
Creditors: Amounts falling due within one year	5	(48,535)	(48,535)
Net current liabilities		(48,534)	(48,534)
Net assets		1	1
Capital and reserves
Called up share capital	6	1	1
Shareholders' funds		1	1

For the financial year ending 28 February 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the Board on 20 May 2022 and signed on its behalf by:

......................................... Mr E C Bowcott Director

Company Registration Number: SC202143

Isle of Mingay Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2022

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
BDO Stoy Hayward 4 Atlantic Quay
70 York Street
Glasgow
G2 8JX
Scotland

These financial statements were authorised for issue by the Board on 20 May 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Isle of Mingay Limited

Notes to the Unaudited Financial Statements

Year Ended 28 February 2022

3	Tangible assets

	Freehold Land £	Total £
Cost or valuation
At 1 March 2021	48,535	48,535
At 28 February 2022	48,535	48,535
Depreciation
Carrying amount
At 28 February 2022	48,535	48,535
At 28 February 2021	48,535	48,535

4	Cash and cash equivalents

	2022 £	2021 £
Cash at bank	1	1

5

Creditors

	2022 £	2021 £
Due within one year
Other creditors	48,535	48,535

6	Share capital

Allotted, called up and fully paid shares

	2022		2021
	No.	£	No.	£
1 Ordinary shares of £1 each	1	1	1	1

7	Related party transactions

Summary of transactions with other related parties

Mr E C Bowcott
 The company was under the control of Mr E C Bowcott throughout the current and previous year. Mr E C Bowcott is a director and shareholder in Stock Limited. At 29 February 2022 £48,535 (2021: £48,535) was owed to Stock Limited.