Burnside 130 Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC491870 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2017

FOR

BURNSIDE 130 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Miss Marsley Robertson

Mr John Robertson

REGISTERED OFFICE:

181 Swanston Street

Glasgow

G40 4HG

REGISTERED NUMBER:

SC491870 (Scotland)

ACCOUNTANTS:

D M McNaught & Co Ltd

Chartered Accountants

166 Buchanan Street

Glasgow

Lanarkshire

G1 2LW

BANKERS:

The Royal Bank of Scotland Plc

Glasgow Parkhead Branch

1304 Duke Street

Glasgow

G31 5 PZ

FIXED ASSETS

Investment property

4

209,575

209,575

CURRENT ASSETS

Debtors

5

-

12,643

Cash at bank

2,820

1,938

2,820

14,581

CREDITORS

Amounts falling due within one year

6

100,271

105,719

NET CURRENT LIABILITIES

(97,451

)

(91,138

)

TOTAL ASSETS LESS CURRENT LIABILITIES

112,124

118,437

CREDITORS

Amounts falling due after more than one year

7

110,999

117,962

NET ASSETS

1,125

475

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,123

473

SHAREHOLDERS' FUNDS

1,125

475

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 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 Board of Directors on 26 February 2018 and were signed on its behalf by:

Miss Marsley Robertson - Director

1.	STATUTORY INFORMATION

Burnside 130 Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents income from rents receivable, excluding value added tax.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2016

and 30 November 2017

209,575

NET BOOK VALUE

At 30 November 2017

209,575

At 30 November 2016

209,575

Fair value at 30 November 2017 is represented by:

£

Cost

209,575

If investment property had not been revalued it would have been included at the following historical cost:

2017

2016

£

£

Cost

209,575

209,575

Investment property was valued on an open market value basis on 30 November 2016 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

-

12,643

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

407

416

Other creditors

99,864

105,303

100,271

105,719

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

110,999

117,962

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

46,657

53,620

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Other loans

121,723

128,686

The loan is secured by a standard security over the company's investment property and by way of a personal

guarantee by the directors.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in rents receivable is an amount of £11,805 receivable from Drastic Plastic Ltd. Also included in

management charges is an amount of £25,000 payable to Drastic Plastic Ltd.

Miss Marsley Robertson and Mr John Robertson are directors and shareholders in Drastic Plastic Ltd.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Burnside 130 Limited for the year ended 30 November 2017 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Burnside 130 Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Burnside 130 Limited and state those matters that we have agreed to state to the Board of Directors of Burnside 130 Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Burnside 130 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Burnside 130 Limited. You consider that Burnside 130 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Burnside 130 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

D M McNaught & Co Ltd

Chartered Accountants

166 Buchanan Street

Glasgow

Lanarkshire

G1 2LW

26 February 2018