Clanbridge Limited - Accounts to registrar (filleted) - small 17.3
Clanbridge Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2017 |
| for |
| Clanbridge Limited |
| Clanbridge Limited (Registered number: SC314324) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Clanbridge Limited |
| Company Information |
| for the Year Ended 31 March 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Accountants |
| Titanium 1 |
| King's Inch Place |
| Renfrew |
| PA4 8WF |
| Clanbridge Limited (Registered number: SC314324) |
| Balance Sheet |
| 31 March 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Fair value reserve | 11 |
| Retained earnings | 11 |
| SHAREHOLDERS' FUNDS |
| 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. |
| Clanbridge Limited (Registered number: SC314324) |
| Balance Sheet - continued |
| 31 March 2017 |
| 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 behalf by: |
| Clanbridge Limited (Registered number: SC314324) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Clanbridge Limited is a |
| number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the pound sterling (£). |
| Monetary amounts in these financial statements are rounded to the nearest £. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| This is the first year the financial statements have been prepared under FRS 102. The company transitioned |
| from UK GAAP to FRS102 as at 1 April 2015. An explanation of how transition to FRS 102 has affected the |
| reported financial position and financial performance is given in the first year adoption note. |
| Significant judgements and estimates |
| The preparation of Financial Statements required management to make judgements, estimates and assumptions |
| that affect the application of accounting policies and reported amounts of assets, liabilities, income and |
| expenses. Actual results may differ from these estimates. Estimates and assumptions are reviewed on an |
| ongoing basis and revisions to estimates are recognised in the period in which the estimate is revised and in |
| any future periods affected. |
| The estimates, assumptions and judgements that have a significant risk of causing a material adjustment to the |
| carrying amount of assets and liabilities within the financial statements within the next financial year are |
| addressed below: |
| Investment property valuations |
| Investment properties are included at fair value. A review of the carrying value is undertaken at each balance |
| sheet date and any movement in value adjusted accordingly. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Investment property |
| Investment property is included at fair value. Gains are recognised n the income statement. Deferred tax is |
| provided on these gains at the rate expected to apply when the property is sold. |
| Clanbridge Limited (Registered number: SC314324) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| 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. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 April 2016 |
| and 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| Clanbridge Limited (Registered number: SC314324) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2016 |
| and 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| The property has been valued at open market value at the year end by the directors. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Tax |
| VAT |
| Other creditors |
| Directors' loan accounts |
| Accrued expenses |
| 9. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2016 |
| Accelerated Capital Allowances | ( |
) |
| Fair Value Gain | ( |
) |
| Balance at 31 March 2017 |
| Clanbridge Limited (Registered number: SC314324) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 |
| 11. | RESERVES |
| Fair |
| Retained | value |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 April 2016 | 205,338 |
| Profit for the year |
| Reserve Transfer | ( |
) | - |
| At 31 March 2017 | 217,137 |
| Fair value reserve: this reserve records the value of investment property revaluations and fair value |
| movements recognised in the income statement net of deferred tax provisions. It is a non-distributable reserve. |
| 12. | RELATED PARTY DISCLOSURES |
| Other related parties under common control |
| 2017 | 2016 |
| £ | £ |
| Management charges paid to related parties | 9,305 | 9,528 |
| Amount due to related parties | 146,703 | 175,553 |
| Amounts due to related parties are repayable on demand, and no interest has been applied on the amount |
| payable. |
| 13. | SECURITIES AND GUARANTEES |
| A standard security with Svenska Handelsbanken AB (publ) is charged over the company's property as well as |
| a guarantee for £70,000 together with interest and costs, to secure the liabilities of Cairn Leisure, a partnership |
| in which the director and shareholder M Heron is a partner. |
| 14. | FIRST YEAR ADOPTION |
| For all periods up to and including the year ended 31 March 2016, the Company prepared its financial |
| statements in accordance with previously exant United Kingdom generally accepted accounting practice (UK |
| GAAP). These financial statements, for the year ended 31 March 2017, are the first year the Company has |
| prepared in accordance with FRS102. The significant accounting policies in meeting those requirements are |
| described in relevant notes. |