Proven Properties (Scotland) Limited - Accounts to registrar (filleted) - small 18.2

Proven Properties (Scotland) Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: SC043595 (Scotland)















Unaudited Financial Statements

for the Year Ended 5 April 2021

for

Proven Properties (Scotland) Limited

Proven Properties (Scotland) Limited (Registered number: SC043595)






Contents of the Financial Statements
for the Year Ended 5 April 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Proven Properties (Scotland) Limited

Company Information
for the Year Ended 5 April 2021







DIRECTORS: R Prow
J Niven





REGISTERED OFFICE: 2 Albert Street
Helensburgh
G84 7SG





REGISTERED NUMBER: SC043595 (Scotland)





ACCOUNTANTS: R. G. Beattie & Co Ltd
Chartered Certified Accountants
121 Moffat Street
Glasgow
G5 OND

Proven Properties (Scotland) Limited (Registered number: SC043595)

Balance Sheet
5 April 2021

5.4.21 5.4.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,029 1,210

CURRENT ASSETS
Stocks 5 1,381,702 1,411,812
Debtors 6 83,176 85,654
Cash at bank and in hand 50,921 43,394
1,515,799 1,540,860
CREDITORS
Amounts falling due within one year 7 999,755 997,636
NET CURRENT ASSETS 516,044 543,224
TOTAL ASSETS LESS CURRENT
LIABILITIES

517,073

544,434

CREDITORS
Amounts falling due after more than one
year

8

554,134

586,864
NET LIABILITIES (37,061 ) (42,430 )

CAPITAL AND RESERVES
Called up share capital 9 4 4
Retained earnings (37,065 ) (42,434 )
SHAREHOLDERS' FUNDS (37,061 ) (42,430 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2021 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.

Proven Properties (Scotland) Limited (Registered number: SC043595)

Balance Sheet - continued
5 April 2021


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 Board of Directors and authorised for issue on 23 August 2022 and were signed on its behalf by:





R Prow - Director


Proven Properties (Scotland) Limited (Registered number: SC043595)

Notes to the Financial Statements
for the Year Ended 5 April 2021

1. STATUTORY INFORMATION

Proven Properties (Scotland) 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 6 April 2020
and 5 April 2021 70,646 15,854 882 87,382
DEPRECIATION
At 6 April 2020 69,833 15,710 629 86,172
Charge for year 122 21 38 181
At 5 April 2021 69,955 15,731 667 86,353
NET BOOK VALUE
At 5 April 2021 691 123 215 1,029
At 5 April 2020 813 144 253 1,210

5. STOCKS
5.4.21 5.4.20
£    £   
Work-in-progress 1,381,702 1,411,812

Proven Properties (Scotland) Limited (Registered number: SC043595)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2021

6. DEBTORS
5.4.21 5.4.20
£    £   
Amounts falling due within one year:
Trade Debtors - 2,478

Amounts falling due after more than one year:
Associated Company 83,176 83,176

Aggregate amounts 83,176 85,654

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.21 5.4.20
£    £   
Bank loans and overdrafts 440 123
Trade creditors 264,846 264,844
VAT 372 372
Loan - Fruin Motor (Holdings) Limited 688,853 688,853
Directors' current accounts 14,531 14,531
Accrued expenses 30,713 28,913
999,755 997,636

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
5.4.21 5.4.20
£    £   
Bank Loan 278,101 293,615
Bank loan 276,033 293,249
554,134 586,864

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 5.4.21 5.4.20
value: £    £   
4 Ordinary £1 4 4