| Fisher Estates (Scotland) Limited |
| Registered number: |
SC167929 |
| Abbreviated Balance Sheet |
| as at 31 August 2014 |
|
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
1,952,905 |
|
|
1,959,646 |
|
| Current assets |
| Debtors |
3 |
|
162,536 |
|
|
201,504 |
| Cash at bank and in hand |
|
|
1,378 |
|
|
600,421 |
|
|
|
163,914 |
|
|
801,925 |
|
| Creditors: amounts falling due within one year |
|
|
(36,104) |
|
|
(480,817) |
|
| Net current assets |
|
|
|
127,810 |
|
|
321,108 |
|
| Total assets less current liabilities |
|
|
|
2,080,715 |
|
|
2,280,754 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(74,164) |
|
|
(81,533) |
|
| Provisions for liabilities |
|
|
|
(9,626) |
|
|
(10,437) |
|
|
| Net assets |
|
|
|
1,996,925 |
|
|
2,188,784 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
5 |
|
|
3 |
|
|
3 |
| Revaluation reserve |
|
|
|
981,299 |
|
|
981,299 |
| Profit and loss account |
|
|
|
1,015,623 |
|
|
1,207,482 |
|
| Shareholders' funds |
|
|
|
1,996,925 |
|
|
2,188,784 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| William Fisher |
| Director |
| Approved by the board on 10 December 2014 |
|
| Fisher Estates (Scotland) Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 August 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Land |
Nil |
|
Investment properties |
Nil |
|
Plant and machinery |
20% reducing balance |
|
Motor vehicles |
20% reducing balance |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. No deferred tax is has been provided where fixed assets are revalued unless these are likely to be sold in the forseeable future. |
|
Contracts for difference |
|
Gains and losses on contracts for difference are recognised in the profit and loss account as they are incurred. Provision is made at the year end for subsequent losses incurred on contracts open at the year end date. |
|
|
Investment properties |
|
In accordance with the FRSSE, investment properties are revalued at open market value annually by either independent professional third party valuers or the directors. The aggregate surplus or deficit is transferred to revaluation reserve, subject to individual impairments in value. No depreciation is provided in respect of investment properties. However the Companies Act 1985 requires that all properties should be depreciated. This requirement conflicts with the generally accepted accounting principle set out in the FRSSE. The directors consider that since these properties are primarily held for their investment potential, to depreciate them would not give a true and fair view. It this departure from the Act had not been made, the profit for the financial year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified because depreciation is only one of the many factors reflected in the annual valuation. |
|
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 September 2013 |
1,981,599 |
|
At 31 August 2014 |
1,981,599 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2013 |
21,953 |
|
Charge for the year |
6,741 |
|
At 31 August 2014 |
28,694 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2014 |
1,952,905 |
|
At 31 August 2013 |
1,959,646 |
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2014 |
|
2013 |
| £ |
£ |
|
Debtors include: |
|
|
Amounts due after more than one year |
134,000 |
|
134,000 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Loans |
2014 |
|
2013 |
| £ |
£ |
|
Creditors include: |
|
Amounts falling due for payment after more than five years |
38,964 |
|
47,933 |
|
Secured bank loans |
82,964 |
|
89,933 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
3 |
|
3 |
|
3 |
|
|
|
|
|
|
|
|
|
