Conich Holdings Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: SC533589 (Scotland)

Financial Statements for the Year Ended 30 April 2022

for

Conich Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D Fletcher

S N Fraser

D O Fraser

A M Fraser

M Warnes

D K Warnes

REGISTERED OFFICE:

Violet Cottage

Balmaha

Glasgow

United Kingdom

G63 0JQ

REGISTERED NUMBER:

SC533589 (Scotland)

FIXED ASSETS

Tangible assets

4

316,648

307,707

CURRENT ASSETS

Debtors

5

316

316

Cash at bank

497

9,968

813

10,284

CREDITORS

Amounts falling due within one year

6

18,580

17,766

NET CURRENT LIABILITIES

(17,767

)

(7,482

)

TOTAL ASSETS LESS CURRENT LIABILITIES

298,881

300,225

CAPITAL AND RESERVES

Called up share capital

241,920

241,920

Revaluation reserve

7

58,080

58,080

Retained earnings

(1,119

)

225

SHAREHOLDERS' FUNDS

298,881

300,225

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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.

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 17 April 2023 and were signed on its behalf by:

A M Fraser - Director

D K Warnes - Director

1.	STATUTORY INFORMATION

Conich Holdings 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 as modified by the revaluation of certain assets.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognized so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases

Freehold land and buildings NIL

The gain or loss arising on the disposal of an asset is determined by the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

Financial instruments

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

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

Financial assets and liabilities are offset, with the net amount presented in the financial statements, where there is a legally enforceable right to off set the recognized amounts and there is an intention to settle on a net basis or t realize the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash at bank balances, are legally measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortized.

Classification of 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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans. loans from fellow group companies and preference shares that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortized.

Debt instruments are subsequently carried at amortized cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognized initially at transaction price and subsequently measured at amortized cost using the effective interest method.

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.

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.

Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowing in current liabilities.

Equity instruments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 May 2021

307,707

Additions

8,941

At 30 April 2022

316,648

NET BOOK VALUE

At 30 April 2022

316,648

At 30 April 2021

307,707

Cost or valuation at 30 April 2022 is represented by:

Land and

buildings

£

Valuation in 2017

300,000

Cost

16,648

316,648

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2022

2021

£

£

Cost

249,627

249,627

Value of land in freehold land and buildings

249,627

249,627

Freehold land and buildings were valued on an open market value basis on 30 April 2017 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

316

316

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed to associates

15,579

14,994

Taxation and social security

-

316

Other creditors

3,001

2,456

18,580

17,766

7.

RESERVES

Revaluation

reserve

£

At 1 May 2021

and 30 April 2022

58,080

8.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed a total of £15,579 (£14,994) to companies which certain of the directors also have an interest. There are no fixed repayment terms and no interest payable on this balance.

9.	ULTIMATE CONTROLLING PARTY

The company is under the control of D K Warnes, A Fraser, D Fraser and S Fraser who are directors and shareholders of the company.