G7 RSK Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC525834 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 3 FEBRUARY 2016 TO 5 APRIL 2017

FOR

G7 RSK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs T Sandhu

REGISTERED OFFICE:

25 Dalziel Drive

Glasgow

G41 4JA

REGISTERED NUMBER:

SC525834 (Scotland)

ACCOUNTANTS:

John M Taylor & Co

Chartered Accountants

9 Glasgow Road

PAISLEY

Renfrewshire

PA1 3QS

FIXED ASSETS

Investment property

4

521,000

CURRENT ASSETS

Debtors

5

3,812

Cash at bank

46,568

50,380

CREDITORS

Amounts falling due within one year

6

415,502

NET CURRENT LIABILITIES

(365,122

)

TOTAL ASSETS LESS CURRENT LIABILITIES

155,878

CREDITORS

Amounts falling due after more than one year

7

(139,309

)

PROVISIONS FOR LIABILITIES

(2,525

)

NET ASSETS

14,044

CAPITAL AND RESERVES

Called up share capital

9

1,000

Investment properties

fair value reserve

10

21,873

Retained earnings

10

(8,829

)

SHAREHOLDERS' FUNDS

14,044

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 5 April 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 5 April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 3 November 2017 and were signed by:

Mrs T Sandhu - Director

1.	STATUTORY INFORMATION

G7 Rsk Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the total amount of rents due for the period from when the properties were rented.

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at

fair value at each reporting date with changes in fair value recognised in profit and loss.

Revaluations are conducted annually by the director.

Taxation

Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively

enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the

financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying

amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is

no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be

recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the

liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or

substantively enacted by the end of the reporting period.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

494,395

Revaluations

26,605

At 5 April 2017

521,000

NET BOOK VALUE

At 5 April 2017

521,000

Cost or valuation at 5 April 2017 is represented by:

£

Valuation in 2017

521,000

The property was valued by the director at 5 April 2017.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

2,391

Prepayments

1,421

3,812

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Directors' current accounts

413,130

Accruals and deferred income

2,372

415,502

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans more 5 yrs non-inst

139,309

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

139,309

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

139,309

Bank loan is secured by a Standard Security over the property at Flat 4 Netherdale Kirkvale, Newton Mearns,

G77 5HJ in favour of Charter Court Financial Services Limited.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1,000

Ordinary

£1

1,000

1,000 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

10.

RESERVES

Investment

properties

fair

Retained

value

Totals

earnings

reserve

£

£

£

Profit for the period

13,044

13,044

Reserve transfer

-

(21,873

)

21,873

At 5 April 2017

13,044

(8,829

)

21,873

11.	RELATED PARTY DISCLOSURES