B & R Developments (Scotland) Limited - Period Ending 2017-03-31

Registration number: SC500737

B & R Developments (Scotland) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Sense Accounting & Bookkeeping Limited
Chartered Accountants
56 Marchmont Road
Edinburgh
EH9 1HS

B & R Developments (Scotland) Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 4

B & R Developments (Scotland) Limited

Company Information

Directors

Mrs MR McColl Mr W McColl Mrs B Petrie Mr R Petrie

Registered office

Nether Cambushinnie Cromlix Dunblane Perthshire FK15 9JU

Accountants

Sense Accounting & Bookkeeping Limited Chartered Accountants 56 Marchmont Road Edinburgh EH9 1HS

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B & R Developments (Scotland) Limited

(Registration number: SC500737)
Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Current assets
Cash at bank and in hand		487	500
Creditors: Amounts falling due within one year	4	(10,400)	(10,400)
Net liabilities		(9,913)	(9,900)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(10,013)	(10,000)
Total equity		(9,913)	(9,900)

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 December 2017 and signed on its behalf by:
 

.........................................

Mr R Petrie

Director

The notes on pages 3 to 4 form an integral part of these financial statements.

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B & R Developments (Scotland) Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Nether Cambushinnie
Cromlix
Dunblane
Perthshire
FK15 9JU
Scotland

These financial statements were authorised for issue by the Board on 30 December 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

The company has elected to adopt FRS 102, Section 1A with the effective date of transition being 17 March 2015.

Information on the impact of the first-time adoption of FRS 102 is given in note 7.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At 31 March 2017 the company was in a net liabilities position, The directors have indicated that they intend to provide such funds as are necessary for the company to trade for the forseeable future. The financial statements have therefore been prepared on a going concern basis.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the Company’s cash management are included as a component of cash and cash equivalents for the purpose only of the cash flow statement.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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B & R Developments (Scotland) Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2016 - 0).

4

Creditors

Creditors: amounts falling due within one year

	Note	2017 £	2016 £
Due within one year
Other creditors		10,400	10,400

5	Share capital

Allotted, called up and fully paid shares

	2017		2016
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

6	Related party transactions

Other transactions with directors

At 31 March 2017 the company owed Mrs R McColl, a director of the company, £10,400 (2016: £10,400). The loan is interest free and repayable on demand.

7	Transition to FRS 102

This is the first financial year that the company has presented its financial statements in accordance with FRS 102 ‘The Financial Reporting Framework applicable in the UK and Republic of Ireland’ (“FRS 102”). For financial years up to and including the year ending 31 March 2016, the company prepared its financial statements in accordance with previously extant UK GAAP.

The date of transition to FRS 102 is therefore 17 March 2015. In carrying out the transition to FRS 102, the company has not applied any of the optional exemptions permitted by Section 35 Transition to this FRS.

There have been no changes to accounting policies or accounting treatments required to be made upon transition to FRS 102. Accordingly, the company’s opening equity position as at the 17 March 2015 and its financial position and performance for the year ended 31 March 2016 are unchanged from that previously presented under previously extant UK GAAP.

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