Ian Gordon Catering Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC253286 (Scotland)

Ian Gordon Catering Limited

Abbreviated Unaudited Accounts

for the Year Ended 31 July 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

I J Gordon

Mrs M R Gordon

SECRETARY:

I J Gordon

REGISTERED OFFICE:

9/8 Connaught Place

Edinburgh

EH6 4RQ

REGISTERED NUMBER:

SC253286 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

EH3 6AT

BANKERS:

The Royal Bank of Scotland plc

Edinburgh West End Office

142-144 Princes Street

Edinburgh

EH2 4EQ

FIXED ASSETS

Tangible assets

2

-

Investment property

3

255,000

CURRENT ASSETS

Debtors

625

-

Cash at bank

8,272

8,416

8,897

8,416

CREDITORS

Amounts falling due within one year

4

94,570

75,136

NET CURRENT LIABILITIES

(85,673

)

(66,720

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

169,327

188,280

CREDITORS

Amounts falling due after more than
one year

4

73,350

93,044

NET ASSETS

95,977

95,236

CAPITAL AND RESERVES

Called up share capital

5

1,000

Revaluation reserve

28,870

Profit and loss account

66,107

65,366

SHAREHOLDERS' FUNDS

95,977

95,236

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27 September 2016 and were signed
on its behalf by:

I J Gordon - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by

the revaluation of certain assets and in accordance with the Financial Reporting Standard for

Smaller Entities (effective January 2015).

Turnover and revenue recognition

Turnover represents income from property rental. Revenue is recognised in accordance with the

terms of the lease agreement.

Tangible fixed assets

Computer equipment - 20% on cost.

Investment property

Investment properties are shown at their open market value. The surplus or deficit arising from the

annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its

reversal, on an individual investment property is expected to be permanent, in which case it is

recognised in the profit and loss account for the year.

This is in accordance with FRSSE which, unlike the Companies Act 2006, does not require

depreciation of investment properties. Investment properties are held for their investment

potential and not for use by the company and so their current value is of prime importance. The

departure from the provisions of the Act is required in order to give a true and fair view.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date where transactions or events have occurred at that date that will result in

an obligation to pay more, or a right to pay less or to receive more, tax. Deferred tax assets are

recognised only to the extent that the directors consider that it is more likely than not that there

will be suitable taxable profits from which the future reversal of the underlying timing differences

can be deducted. Deferred tax is measured on an undiscounted basis at the rates that are expected

to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or

substantively enacted at the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

225

DEPRECIATION

At 1 August 2015

and 31 July 2016

225

NET BOOK VALUE

At 31 July 2016

-

At 31 July 2015

-

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 August 2015

and 31 July 2016

255,000

NET BOOK VALUE

At 31 July 2016

255,000

At 31 July 2015

255,000

4.

CREDITORS

Creditors include an amount of £ 80,775 (2015 - £ 99,707 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016

2015

£

Repayable by instalments

41,249

64,237

5.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£1

1,000