D_G_PRYDE_LIMITED - Accounts

D G PRYDE LIMITED - Company Information

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Company Registration No. SC263049 (Scotland)

D G PRYDE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2016

D G PRYDE LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

D G PRYDE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

913,875

Tangible assets

1,447,280

95,288

2,361,155

1,009,163

Current assets

Debtors

298,289

726,935

Cash at bank and in hand

191,254

119,665

489,543

846,600

Creditors: amounts falling due within one year

(751,592)

(345,669)

Net current liabilities/(assets)

(262,049)

500,931

Total assets less current liabilities

2,099,106

1,510,094

Creditors: amounts falling due after more than one year

(625,000)

Provisions for liabilities

(368,044)

(502,381)

1,106,062

1,007,713

Capital and reserves

Called up share capital

50,001

Share premium account

783,001

Profit and loss account

273,060

174,711

Shareholders' funds

1,106,062

1,007,713

D G PRYDE LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 APRIL 2016

- 2 -

For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 July 2016

D. G. Pryde

Director

Company Registration No. SC263049

D G PRYDE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents the total value of commissions and fees generated during the year and derives from the provision of services falling within the company's ordinary activities.

1.4

Goodwill

Goodwill is held at cost and has not been depreciated. This is a departure from Companies Act 2006. However, in the opinion of the directors the value has not diminished. This departure is therefore required to present a true and fair view.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Leasehold Property Improvements

20% Straight Line

Freehold Land & Buildings

Nil

Office Equipment and Furnishings

25% Reducing Balance

Although Companies Act requires annual depreciation of fixed assets, freehold buildings are not depreciated. The directors believe that the policy of not providing depreciation is necessary in order for the accounts to give a true and fair view. In the opinion of the directors the freehold and leasehold property is well maintained and has not diminished in value.

1.6

Leasing

Rentals payable under operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against income on a straight line basis over the lease term.

1.7

Pensions

The pension costs charges in the financial statements represent the contribution payable by the company during the year.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.9

Group accounts

The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has therefore taken advantage of the option provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

D G PRYDE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 May 2015

913,875

239,926

1,153,801

Additions

1,379,746

At 30 April 2016

913,875

1,619,672

2,533,547

Depreciation

At 1 May 2015

144,638

Charge for the year

27,754

At 30 April 2016

172,392

Net book value

At 30 April 2016

913,875

1,447,280

2,361,155

At 30 April 2015

913,875

95,288

1,009,163

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Chirnside Whitehall Limited

Scotland

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

Chirnside Whitehall Limited

Not trading

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £300,000 (2015 - £0).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £625,000 (2015 - £0).

D G PRYDE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

- 5 -

Share capital

2016

2015

Allotted, called up and fully paid

50,001 Ordinary of £1 each

50,001