Glen Torrish Properties Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC272760 (Scotland)

Abbreviated Accounts for the Year Ended 31 August 2016

for

Glen Torrish Properties Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

F R Gardner

SECRETARY:

R J Gardner

REGISTERED OFFICE:

New Lodge

Swordale hill

Evanton

Highland

IV16 9XA

REGISTERED NUMBER:

SC272760 (Scotland)

ACCOUNTANTS:

Highland Accountancy Practice

Chartered Accountants

Suite 1A, Willow House

Stoneyfield Business Park

Inverness

Highland

IV2 7PA

FIXED ASSETS

Tangible assets

2

767,464

787,881

CURRENT ASSETS

Cash at bank

123,450

67,080

CREDITORS

Amounts falling due within one year

293,554

312,530

NET CURRENT LIABILITIES

(170,104

)

(245,450

)

TOTAL ASSETS LESS CURRENT LIABILITIES

597,360

542,431

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and Loss Account

597,359

542,430

SHAREHOLDERS' FUNDS

597,360

542,431

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 11 May 2017 and were signed by:

F R Gardner - 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).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land & Buildings

-

2% on cost

Plant and Machinery

-

25% on reducing balance

Motor Vehicles

-

25% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation,

impairment losses, and reversals of impairment losses (where applicable).

Deferred tax

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

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

1,029,239

DEPRECIATION

At 1 September 2015

241,358

Charge for year

20,417

At 31 August 2016

261,775

NET BOOK VALUE

At 31 August 2016

767,464

At 31 August 2015

787,881

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

£

1

Ordinary

£1

1

1

4.	RELATED PARTY DISCLOSURES

During the year, total dividends of £22,500 were paid to the director .

F R Gardner

Director

Maintains a loan account with the company. There are no fixed terms of repayment on the loan and no interest is

charged on it.

31.8.16

31.8.15

£

£

Amount due to related party at the balance sheet date

232,823

262,684

5.	ULTIMATE CONTROLLING PARTY