Inchinnan Property Investments Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: SC399433

INCHINNAN PROPERTY INVESTMENTS LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

Chartered Accountants' Report

5

DIRECTORS:

Charles Jonathan Kennett

Janet Kennett

Colin Hugh MacKillop

Tom Jonathan England Kennett

REGISTERED OFFICE:

Rainbow Building

40 Kelvin Avenue

Hillington Industrial estate

Glasgow

G52 4LT

REGISTERED NUMBER:

SC399433

ACCOUNTANTS:

Milne Craig

Chartered Accountants

Abercorn House

79 Renfrew Road

Paisley

Renfrewshire

PA3 4DA

BANKERS:

Bank of Scotland

Business Banking

50 West Campbell Street

Glasgow

G2 7BP

SOLICITORS:

Biggart Baillie LLP

Dalmore House

310 St Vincent Street

Glasgow

G2 5QR

FIXED ASSETS

Investment property

2

3,050,000

CURRENT ASSETS

Cash at bank

-

35,027

CREDITORS

Amounts falling due within one year

3

439,143

233,884

NET CURRENT LIABILITIES

(439,143

)

(198,857

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,610,857

2,851,143

CREDITORS

Amounts falling due after more than one
year

3

441,667

541,667

NET ASSETS

2,169,190

2,309,476

CAPITAL AND RESERVES

Called up share capital

4

200

Profit and loss account

2,168,990

2,309,276

2,169,190

2,309,476

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 24 February 2017 and were signed on its behalf
by:

Charles Jonathan Kennett - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or

past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the

reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the

reversal of deferred tax liabilities or other future taxable profits.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred

tax is reversed.

Deferred tax is calculated using the tax rates and laws that that have been enacted or substantively enacted by the

reporting date that are expected to apply to the reversal of the timing difference.

With the exception of changes arising on the initial recognition of a business combination, the tax expense

(income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction

that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities

relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable

entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and

settle the liabilities simultaneously

2.	INVESTMENT PROPERTY

Total

£

COST

At 1 June 2015

and 31 May 2016

3,050,000

NET BOOK VALUE

At 31 May 2016

3,050,000

At 31 May 2015

3,050,000

3.

CREDITORS

Creditors include an amount of £ 746,133 (2015 - £ 641,667 ) for which security has been given.

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

2016

2015

£

Repayable by instalments

41,667

141,667

4.	CALLED UP SHARE CAPITAL

Alloted, issued

and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

102,000

Ordinary A

£0.001

102

48,000

Ordinary C

£0.001

48

800

Ordinary D

£0.001

0.8

29,000

Ordinary E

£0.001

29

100

Ordinary F

£0.001

0.1

100

Ordinary G

£0.001

0.1

10,000

Ordinary H

£0.001

10

10,000

Ordinary I

£0.001

10

200

5.	ULTIMATE PARENT COMPANY

The ultimate parent company is CJEK Holding Limited, a company registered in Scotland.

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the period the company benefitted from an interest free loan from the directors. At 31 May 2016 the

balance due to the directors totalled £34,600 (2015: £34,600).

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Inchinnan Property Investments Ltd for the year ended 31 May 2016 which comprise the Profit

and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Inchinnan Property Investments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Inchinnan Property Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Inchinnan Property Investments Ltd, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Inchinnan Property Investments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Inchinnan Property Investments Ltd. You consider that Inchinnan Property Investments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Inchinnan Property Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Milne Craig

Chartered Accountants

Abercorn House

79 Renfrew Road

Paisley

Renfrewshire

PA3 4DA

24 February 2017