Sinclair Montrose Trust Ltd - Abbreviated accounts

SINCLAIR MONTROSE TRUST LIMITED - Company Information

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Registered number

01446648

Sinclair Montrose Trust Ltd

Abbreviated Accounts

31 December 2013

Cloverleaf Accountancy Services Ltd

Chartered Accountants

48 Dalkeith Grove

Stanmore

Middlesex

HA7 4SF

Sinclair Montrose Trust Ltd
Registered number:		01446648
Abbreviated Balance Sheet
as at 31 December 2013

Notes			2013			2012
£				£
Fixed assets
Tangible assets	2		35,400			35,400
Investments	3		2,060,609			2,060,609
			2,096,009			2,096,009

Current assets
Debtors		261,458			261,458
Cash at bank and in hand		-			150
		261,458			261,608

Creditors: amounts falling due within one year		(2,300,267)			(2,298,970)

Net current liabilities			(2,038,809)			(2,037,362)

Total assets less current liabilities			57,200			58,647

Creditors: amounts falling due after more than one year			(3,472,700)			(3,472,700)



Net liabilities			(3,415,500)			(3,414,053)

Capital and reserves
Called up share capital	4		1,454,100			1,454,100
Share premium			477,000			477,000
Capital redemption reserve			950,000			950,000
Profit and loss account			(6,296,600)			(6,295,153)

Shareholders' funds			(3,415,500)			(3,414,053)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



M J Sinclair
Director
Approved by the board on 24 September 2014

Sinclair Montrose Trust Ltd
Notes to the Abbreviated Accounts
for the year ended 31 December 2013

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Land and buildings			at variable rates on reducing balance
	Plant and machinery			15% on cost

	Going concern
	The accounts have been prepared on a going concern basis, the validity of which is dependent upon the continuing support of the directors. At 31 December 2013, the company's liabilities exceeded its assets by £3,415,500. The directors have indicated their intention to continue to support the company.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

	Consolidated accounts
	As the company is subject to the small companies regime, group accounts have not been prepared.


2	Tangible fixed assets					£

	Cost
	At 1 January 2013					119,623
	At 31 December 2013					119,623

	Depreciation
	At 1 January 2013					84,223
	At 31 December 2013					84,223

	Net book value
	At 31 December 2013					35,400
	At 31 December 2012					35,400


3	Investments					£

	Cost
	At 1 January 2013					2,060,609

	At 31 December 2013					2,060,609

4	Share capital	Nominal		2013		2013		2012
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		1,454,100		1,454,100		1,454,100