M T S Residential (Scotland) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC235216 (Scotland)

Unaudited Financial Statements for the Year Ended 31 October 2016

for

M T S RESIDENTIAL (SCOTLAND) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTOR:

W K Gray

SECRETARY:

J M Scott

REGISTERED OFFICE:

29 Brandon Street

Hamilton

Lanarkshire

ML3 6DA

REGISTERED NUMBER:

SC235216 (Scotland)

ACCOUNTANTS:

Sharles CA

29 Brandon Street

Hamilton

ML3 6DA

BANKERS:

Bank of Scotland

9 Brandon Street

Hamilton

ML3 6BZ

CURRENT ASSETS

Debtors

6

277,508

278,676

Cash at bank

3

492

277,511

279,168

CREDITORS

Amounts falling due within one year

7

50,456

49,807

NET CURRENT ASSETS

227,055

229,361

TOTAL ASSETS LESS CURRENT LIABILITIES

227,055

229,361

CAPITAL AND RESERVES

Called up share capital

2

2

Capital redemption reserve

1

1

Retained earnings

227,052

229,358

SHAREHOLDERS' FUNDS

227,055

229,361

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

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28 July 2017 and were signed by:

W K Gray - Director

1.	STATUTORY INFORMATION

M T S Residential (Scotland) Limited is a private company, limited by shares , registered in Scotland. The

company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

There are no material departures from the standard.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and

accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine

whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the

recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is

not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of

the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets

below this threshold is charged directly to the income statement in the period it is incurred.

Deferred tax

Deferred tax is recognised at current tax rates in respect of all timing differences that have originated but not

reversed at the balance sheet date. A deferred tax asset is only recognised to the extent that future taxable profits

are expected to reverse the underlying timing difference.

Deferred tax balances are not discounted.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2015

and 31 October 2016

1,753

DEPRECIATION

At 1 November 2015

and 31 October 2016

1,753

NET BOOK VALUE

At 31 October 2016

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Other debtors

277,508

278,676

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Taxation and social security

185

185

Other creditors

50,271

49,622

50,456

49,807

8.	CONTINGENT LIABILITIES

The company has contingent liabilities of £135,000 being guarantees to North Lanarkshire Council in respect of

undertakings at the site of the residential development.

9.	RELATED PARTY DISCLOSURES

The company has a related party MTS Residential Ltd. This company has a common director. There were no

transactions with this company during the year and the balance owed from MTS Residential Ltd at 31st October

2016 was £207,825, (2015 - £207,825).

The following reproduces the text of the report prepared for the director and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

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

financial statements of M T S Residential (Scotland) Limited for the year ended 31 October 2016 which comprise the

Income Statement, 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 director of M T S Residential (Scotland) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M T S Residential (Scotland) Limited and state those matters that we have agreed to state to the director of M T S Residential (Scotland) Limited 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 director for our work or for this report.

It is your duty to ensure that M T S Residential (Scotland) Limited 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 M T S Residential (Scotland) Limited. You consider that M T S Residential (Scotland) Limited 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 M T S Residential (Scotland) Limited. 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.

Sharles CA

29 Brandon Street

Hamilton

ML3 6DA

28 July 2017