Cosmos Properties Limited - Accounts to registrar

REGISTERED NUMBER: SC309746 (Scotland)

Financial Statements

For The Year Ended 31 March 2017

for

Cosmos Properties Limited

Page

Company Information

1

Balance Sheet

2

DIRECTORS:

Mr M J H Kitson

Mr M H Kitson

SECRETARY:

Mr M J H Kitson

REGISTERED OFFICE:

580 Lawmoor Street

Glasgow

Strathclyde

G5 0TX

REGISTERED NUMBER:

SC309746 (Scotland)

ACCOUNTANTS:

Cahill Jack Associates Limited

91 Alexander Street

Airdrie

North Lanarkshire

ML6 0BD

BANKERS:

The Royal Bank of Scotland

10 Gordon Street

Glasgow

G1 3PL

SOLICITORS:

Tods Murray LLP

33 Bothwell Street

Glasgow

G2 6NL

FIXED ASSETS

1,126,256

1,348,964

CURRENT ASSETS

26,127

120,024

CREDITORS

Amounts falling due within one year

(449,943

)

(738,680

)

NET CURRENT LIABILITIES

(423,816

)

(618,656

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

702,440

730,308

CAPITAL AND RESERVES

702,440

730,308

NOTE TO THE FINANCIAL STATEMENTS

1.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Cosmos Decorators Limited and Cosmos Properties Limited have certain common shareholders/directors.

Property owned by Cosmos Properties was rented to Cosmos Decorators Limited for an annual rental of £32,000

(2016 - £32,000) which is included within rental income for the year.

During the year a loan outstanding due to Cosmos Decorators Limited was written off in the profit and loss

account which amounted to £nil (2016 - £50,000). Included within creditors due within one year is an amount of

£442,000 (2016 - £224,000) due to Cosmos Decorators Limited.

Included in other creditors was an amount of £nil (2016 - £500,000) due to Mr M. Kitson director. This loan

outstanding relates to the transfer of property to Cosmos Properties Limited for the same amount and was repaid

during the year.

Dividends of £nil (2016 - £20,000) paid during the year were paid to a shareholder who was not a director.

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

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

The financial statements were approved by the Board of Directors on 7 November 2017 and were signed on its behalf
by:

Mr M J H Kitson - Director

Cosmos Properties Limited - Accounts to registrar - small 17.1

Cosmos Properties Limited - Accounts to registrar - small 17.1