UNION BRIDGE LIMITED

UNION BRIDGE LIMITED

UNION BRIDGE LIMITED - Company Information

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UNION BRIDGE LIMITED

Company Registration Number:
SC166472 (Scotland)

Unaudited abridged accounts for the year ended 30 September 2017

Period of accounts

Start date: 01 October 2016

End date: 30 September 2017

UNION BRIDGE LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2017

Balance sheet
Notes

UNION BRIDGE LIMITED

Balance sheet

As at 30 September 2017


Notes
2017
2016


£
£
Fixed assets
Tangible assets: 2 700,000 700,000
Total fixed assets: 700,000 700,000
Current assets
Debtors:   179,186 169,735
Cash at bank and in hand: 207 10,896
Total current assets: 179,393 180,631
Creditors: amounts falling due within one year:   (144,197) (167,864)
Net current assets (liabilities): 35,196 12,767
Total assets less current liabilities: 735,196 712,767
Total net assets (liabilities): 735,196 712,767
Capital and reserves
Called up share capital: 100 100
Revaluation reserve:3273,891273,891
Profit and loss account: 461,205 438,776
Shareholders funds: 735,196 712,767

The notes form part of these financial statements

UNION BRIDGE LIMITED

Balance sheet statements

For the year ending 30 September 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 04 July 2018
and signed on behalf of the board by:

Name: Ian Suttie
Status: Director

The notes form part of these financial statements

UNION BRIDGE LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents the total rental income for the year, net of Value Added Tax.

Other accounting policies

Investment propertiesInvestment properties are included at their estimated open market value as at the Balance Sheet date.In accordance with SSAP 19:(i) investment property is revalued annually and the aggregate surplus or deficit is transferred to a revaluation reserve, and(ii) no depreciation or amortisation is provided in respect of investment property.The requirement of the Companies Act 2006 is to depreciate all property, but that conflicts with the generally accepted accounting principles set out in SSAP 19. The directors consider that, as the property is not held for consumption but for investment, to depreciate it would not give a true and fair view, and that it is necessary to adopt SSAP 19 in order to give a true and fair view. If this departure from the Act had not been made the profit for the financial year would have been decreased by the depreciation on the property.

UNION BRIDGE LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2017

2. Tangible Assets

Total
Cost £
At 01 October 2016 700,000
At 30 September 2017 700,000
Net book value
At 30 September 2017 700,000
At 30 September 2016 700,000

UNION BRIDGE LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2017

3. Revaluation reserve

2017
£
Balance at 01 October 2016 273,891
Surplus or deficit after revaluation 0
Balance at 30 September 2017 273,891

UNION BRIDGE LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2017

4. Related party transactions

Name of the related party: Ian Suttie
Relationship:
Director
Description of the Transaction: Other creditors due within one year includes £55,859 (2016: £56,579) due to I A Suttie and parties connected to I A Suttie, who is a director of the company. The maximum amount outstanding during the year was £55,859.
£
Balance at 01 October 2016 56,759
Balance at 30 September 2017 55,859
Name of the related party: Nicola Fong
Relationship:
Shareholder
Description of the Transaction: Debtors due within one year includes £97,431 (2016: £97,431) due from N Fong, who is a shareholder of the company. The maximum amount outstanding during the year was £97,431.
£
Balance at 01 October 2016 97,431
Balance at 30 September 2017 97,431