SB One Holdings Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC522147 (Scotland)

Sb One Holdings Limited

Unaudited Financial Statements

for the Period 9 December 2015 to 31 May 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T S Ho

Mrs A Ho

REGISTERED OFFICE:

9 Ainslie Place

Edinburgh

EH3 6AT

REGISTERED NUMBER:

SC522147 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

The Royal Bank of Scotland plc

2 Bernard Street

Edinburgh

EH6 6PU

FIXED ASSETS

Investments

3

100

Investment property

4

150,000

150,100

CURRENT ASSETS

Debtors

5

19,376

Cash at bank

108,495

127,871

CREDITORS

Amounts falling due within one year

6

135,069

NET CURRENT LIABILITIES

(7,198

)

TOTAL ASSETS LESS CURRENT LIABILITIES

142,902

CAPITAL AND RESERVES

Called up share capital

100,100

Retained earnings

42,802

142,902

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2017 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 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 Board of Directors on 3 August 2017 and were signed on its behalf by:

Mr T S Ho - Director

1.	STATUTORY INFORMATION

Sb One Holdings 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Preparation of consolidated financial statements

The financial statements contain information about Sb One Holdings Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The

company has taken the option under Section 398 of the Companies Act 2006 not to prepare

consolidated financial statements.

Turnover

Turnover is represented by rental income excluding value added tax and is recognised based on rent

due in accordance with the respective rent agreement.

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 FRS102 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 taxation is provided on any fair value surplus at the rate expected to apply when the

property is sold and at the year end is included in the fair value reserve with the relevant change in

fair value.

Deferred tax

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

at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that

are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and

subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

100

At 31 May 2017

100

NET BOOK VALUE

At 31 May 2017

100

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Kimona Limited

Registered office: 9 Ainslie Place, Edinburgh, EH3 6AT

Nature of business: Takeaway.

%

Class of shares:

holding

Ordinary

100.00

2017

£

Aggregate capital and reserves

1,175

Profit for the period

65,612

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

150,000

At 31 May 2017

150,000

NET BOOK VALUE

At 31 May 2017

150,000

The property is shown at cost. The directors, who are not professional valuers, believe that the cost

is not materially different from the fair value as at 31 May 2017.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed by group undertakings

19,376

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

695

Other creditors

134,374

135,069

The director's current account is unsecured, interest free and has no fixed repayment period.