Antaeus Developments Ltd. - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC369881 (Scotland)

ANTAEUS DEVELOPMENTS LTD.

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W M Reid

J S Reid

REGISTERED OFFICE:

162 Glenpark Street

Glasgow

G31 1PG

REGISTERED NUMBER:

SC369881 (Scotland)

ACCOUNTANTS:

JRD Partnership Ltd

Chartered Accountants

11 Portland Road

Kilmarnock

Ayrshire

KA1 2BT

BANKERS:

Bank Of Scotland

The Direct Business Bank

PO Box 1000

BX2 1LB

FIXED ASSETS

Investment property

4

51,659

361,604

CURRENT ASSETS

Debtors

5

5,302

2,400

Cash at bank

186,644

34,841

191,946

37,241

CREDITORS

Amounts falling due within one year

6

38,956

143,259

NET CURRENT ASSETS/(LIABILITIES)

152,990

(106,018

)

TOTAL ASSETS LESS CURRENT LIABILITIES

204,649

255,586

CREDITORS

Amounts falling due after more than one year

7

-

106,875

NET ASSETS

204,649

148,711

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

8

-

80,174

Retained earnings

204,549

68,437

SHAREHOLDERS' FUNDS

204,649

148,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 19th September 2023 and were signed on its behalf by:

J S Reid - Director

1.	STATUTORY INFORMATION

Antaeus Developments Ltd. 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is shown as a revaluation reserve to distinguish this from distributable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2022

361,604

Disposals

(309,945

)

At 31st December 2022

51,659

NET BOOK VALUE

At 31st December 2022

51,659

At 31st December 2021

361,604

Fair value at 31st December 2022 is represented by:

£

Valuation in 2015

80,174

Valuation in 2022

(80,174

)

Cost

51,659

51,659

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

-

2,400

Other debtors

5,302

-

5,302

2,400

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Taxation and social security

30,381

13,843

Other creditors

8,575

129,416

38,956

143,259

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

-

6,875

Other creditors

-

100,000

-

106,875

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

6,875

8.

RESERVES

Revaluation

reserve

£

At 1st January 2022

80,174

Revaluation in year

(80,174

)

At 31st December 2022

-

9.	RELATED PARTY DISCLOSURES

Other creditors (note 6) previously included £10,034 due to Mr I W Reid, a shareholder and relative of the Directors and £32,751 due to the spouse of J S Reid director/shareholder. These loans were repaid in full during the year. Loan interest of £1,178 was charged in respect of these loans.

Other creditors (note 7) previously represented loan capital from the following related parties:

J S Reid - £25,000

W M Reid - £25,000

S K Young - £25,000

I W Reid - £25,000

These loans were fully repaid during the year.

Management fees of £12,000 and £6,000 were paid to W M Reid and J S Reid, directors, respectively.

Other debtors (note 5) includes a loan made to MASC Management Ltd, a company in which W M Reid has an interest.

10.	ULTIMATE CONTROLLING PARTY

The controlling parties are J S Reid, W M Reid, S K Young and I W Reid who each own 25% of the share capital.