Company No: SC677333 (Scotland)

Contents

• Company Information
• Directors' Report
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Mr Brian Charles Morrison
	Mr Edwin John Morrison

REGISTERED OFFICE	Commerce House
	South Street
	Elgin
	IV30 1JE
	Scotland
	United Kingdom

COMPANY NUMBER

SC677333 (Scotland)

CHARTERED ACCOUNTANTS	Johnston Carmichael LLP
	Commerce House
	South Street
	Elgin
	IV30 1JE

The directors present their annual report and the unaudited financial statements of the Company for the financial year ended 31 July 2021.

PRINCIPAL ACTIVITIES

The company was dormant during the year and made neither profit or loss. Accordingly no profit and loss account is presented within these financial statements.

DIRECTORS

The directors, who served during the financial year and to the date of this report except as noted, were as follows:

Mr Brian Charles Morrison	(Appointed 12 October 2020)
Mr Edwin John Morrison	(Appointed 12 October 2020)

This Directors' Report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption provided by section 415A of the Companies Act 2006.

Approved by the Board of Directors and signed on its behalf by:

Mr Brian Charles Morrison Director

Mr Edwin John Morrison Director

Commerce House
South Street
Elgin
IV30 1JE
Scotland
United Kingdom

27 April 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of City & Shire Leasing Limited for the financial year ended 31 July 2021 which comprise the Balance Sheet and the related notes 1 to 6 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

It is your duty to ensure that City & Shire Leasing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of City & Shire Leasing Limited. You consider that City & Shire Leasing Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of City & Shire Leasing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of City & Shire Leasing Limited, as a body, in accordance with the terms of our engagement letter dated 09 November 2020. Our work has been undertaken solely to prepare for your approval the financial statements of City & Shire Leasing Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than City & Shire Leasing Limited and its Board of Directors as a body for our work or for this report.

Johnston Carmichael LLP
Chartered Accountants

Commerce House
South Street
Elgin
IV30 1JE

28 April 2022

	Note	2021
		£
Current assets
Debtors	3	100
		100
Net current assets		100
Total assets less current liabilities		100
Net assets		100
Capital and reserves
Called-up share capital	4	100
Total shareholder's funds		100

City & Shire Leasing Limited (registered number: SC677333) did not trade during the current financial year and has made neither profit nor loss, nor any other comprehensive income. There have been no movements in shareholders’ funds during the current financial year and therefore no Statement of Changes of Equity has been included. For the financial year ending 31 July 2021 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of City & Shire Leasing Limited (registered number: SC677333) were approved and authorised for issue by the Board of Directors on 27 April 2022. They were signed on its behalf by:

Mr Brian Charles Morrison Director

Mr Edwin John Morrison Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year, unless otherwise stated.

General information and basis of accounting

City & Shire Leasing Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Commerce House, South Street, Elgin, IV30 1JE, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The company is dormant and accordingly the financial statements have been prepared on a basis other than a going concern. Under this basis, assets are reflected at their net realisable value where less than cost. No adjustments were required to the carrying value of assets in the application of this basis of preparation.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors are initially measured at transaction price including transaction costs.

Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Employees

	2021
	Number
Monthly average number of persons employed by the Company during the year, including directors	2

3. Debtors

	2021
	£
Amounts owed by Parent undertakings	100

4. Called-up share capital

	2021
	£
Allotted, called-up and not yet paid
100 Class Share 1 ordinary shares of £ 1.00 each	100

5. Related party transactions

The company has taken advantage of FRS102 Section 33 paragraph 33.1A whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

6. Ultimate controlling party

Parent Company:

Morrison Motors (Turriff) Limited

The company's ultimate parent undertaking is Morrison Motors (Turriff) Limited, a company registered in Scotland.