Ian Gordon Catering Limited - Accounts to registrar (filleted) - small 22.3
Ian Gordon Catering Limited - Accounts to registrar (filleted) - small 22.3
REGISTERED NUMBER: |
Ian Gordon Catering Limited |
Unaudited Financial Statements |
for the Year Ended 31 July 2022 |
Ian Gordon Catering Limited (Registered number: SC253286) |
Contents of the Financial Statements |
for the Year Ended 31 July 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Report of the Accountants | 8 |
Ian Gordon Catering Limited |
Company Information |
for the Year Ended 31 July 2022 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
9 Ainslie Place |
Edinburgh |
Midlothian |
EH3 6AT |
BANKERS: |
Edinburgh West End Office |
142-144 Princes Street |
Edinburgh |
EH2 4EQ |
Ian Gordon Catering Limited (Registered number: SC253286) |
Balance Sheet |
31 July 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
Ian Gordon Catering Limited (Registered number: SC253286) |
Balance Sheet - continued |
31 July 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Ian Gordon Catering Limited (Registered number: SC253286) |
Notes to the Financial Statements |
for the Year Ended 31 July 2022 |
1. | STATUTORY INFORMATION |
Ian Gordon Catering Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover and revenue recognition |
Turnover represents income from property rental. Revenue is recognised in accordance with the terms of the lease agreement. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its useful life. |
Plant and machinery etc - 20% on cost |
Investment property |
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
All loans with related parties are all repayable on demand. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Ian Gordon Catering Limited (Registered number: SC253286) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2022 |
2. | ACCOUNTING POLICIES - continued |
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. |
Provision for liability |
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. |
Going concern |
The accounts have been prepared on a going concern basis. The director's going concern assessment includes the expected impact of COVID-19 to the company for a period of at least 12 months from the date of signing of these financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 August 2021 |
and 31 July 2022 |
DEPRECIATION |
At 1 August 2021 |
Charge for year |
At 31 July 2022 |
NET BOOK VALUE |
At 31 July 2022 |
At 31 July 2021 |
Ian Gordon Catering Limited (Registered number: SC253286) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2021 |
Revaluations | 9,940 |
At 31 July 2022 |
NET BOOK VALUE |
At 31 July 2022 |
At 31 July 2021 |
The investment property was valued on an open market basis by the director, who is not a professional valuer on 31 July 2022. |
Fair value at 31 July 2022 is represented by: |
£ |
Valuation in 2015 | 19,824 |
Valuation in 2017 | 9,000 |
Valuation in 2018 | 5,515 |
Valuation in 2021 | 9,467 |
Valuation in 2022 | 9,940 |
Cost | 160,176 |
213,922 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
Included in other creditors is a balance due on the director's current account. This balance is unsecured, interest-free, and repayable on demand. |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
Ian Gordon Catering Limited (Registered number: SC253286) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2022 | 2021 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years |
by instalments | - | 4,032 |
- | 4,032 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Bank loans |
The bank loans are secured by a floating charge and standard security over the assets of the company. |
Ian Gordon Catering Limited |
Report of the Accountants to the Director of |
Ian Gordon Catering Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2022 set out on pages nil to nil and you consider that the company is exempt from an audit. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
9 Ainslie Place |
Edinburgh |
Midlothian |
EH3 6AT |