RESPECT DEVELOPMENTS (SCOTLAND) LTD - Accounts

RESPECT DEVELOPMENTS (SCOTLAND) LTD - Accounts

RESPECT DEVELOPMENTS (SCOTLAND) LTD - Company Information

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Registered Number: SC554798
Scotland

 

 

 

RESPECT DEVELOPMENTS (SCOTLAND) LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023

RESPECT DEVELOPMENTS (SCOTLAND) LTD
Contents Page
For the year ended 31 January 2023
Directors Steven McGhee
John McGhee
Matthew Lees
Registered Number SC554798
Registered Office 6 KENILWORTH AVENUE
WISHAW SCOTLAND
ML2 7LP
Accountants Turner Accountancy Ltd.
101 Park Street

Motherwell
ML1 1PF
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 January 2023.
Principal activities
Principal activity of the company during the financial year was of property development.
Directors
The directors who served the company throughout the year were as follows:
Steven McGhee
John McGhee
Matthew Lees
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Steven McGhee
Director		----------------------------------
Matthew Lees
Director

Date approved: 21 September 2023
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 January 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Turner Accountancy Ltd.
31 January 2023



....................................................
Turner Accountancy Ltd.
101 Park Street

Motherwell
ML1 1PF
21 September 2023
3
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Tangible fixed assets 3 337,843    391,500 
337,843    391,500 
Current assets      
Debtors 4 (397,696)   0 
Cash at bank and in hand 34,301    0 
(363,395)   0 
Creditors: amount falling due within one year 5 0    (395,100)
Net current liabilities (363,395)   (395,100)
 
Total assets less current liabilities (25,552)   (3,600)
Accruals and deferred income (3,521)   0 
Net liabilities (29,073)   (3,600)
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account (29,173)   (3,700)
Shareholder's funds (29,073)   (3,600)
 


For the year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 21 September 2023 and were signed on its behalf by:


-------------------------------
Steven McGhee
Director		-------------------------------
Matthew Lees
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 February 2021 100  (3,700) (3,600)
Total comprehensive income for the year -  -  - 
Total investments by and distributions to owners -  -  - 
At 31 January 2022 100  (3,700) (3,600)
At 01 February 2022 100  (3,700) (3,600)
Profit for the year (25,473) (25,473)
Total comprehensive income for the year -  (25,473) (25,473)
Total investments by and distributions to owners -  -  - 
At 31 January 2023 100  (29,173) (29,073)
5
General Information
RESPECT DEVELOPMENTS (SCOTLAND) LTD is a private company, limited by shares, registered in Scotland, registration number SC554798, registration address 6 KENILWORTH AVENUE, WISHAW SCOTLAND, ML2 7LP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 February 2022 331,500    331,500 
Additions 37,843    37,843 
Disposals (31,500)   (31,500)
At 31 January 2023 337,843    337,843 
Depreciation
At 01 February 2022 -    - 
Charge for year -    - 
On disposals -    - 
At 31 January 2023 -    - 
Net book values
Closing balance as at 31 January 2023 337,843    337,843 
Opening balance as at 01 February 2022 391,500    391,500 


4.

Debtors: amounts falling due after one year

2023
£		   2022
£
Directors Loan Accounts - John McGhee (129,146)   0 
Directors Loan Account - Matthew Lees (134,275)   0 
Directors Loan Account - Steven McGhee (134,275)   0 
(397,696)   0 

5.

Creditors: amount falling due within one year

2023
£		   2022
£
Directors' Current Accounts - John McGhee 0    131,700 
Director's Current Account - Matthew Lees 0    131,700 
Director's Current Account - Steven McGhee 0    131,700 
0    395,100 

6