Alexander Rankine Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC170017 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 October 2017

for

Alexander Rankine Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R Prow

J Niven

P A McAllister

A J McKinlay Niven

REGISTERED OFFICE:

2 Albert Street

Helensburgh

G84 7SG

REGISTERED NUMBER:

SC170017 (Scotland)

FIXED ASSETS

Investment property

3

450,000

450,000

CREDITORS

Amounts falling due within one year

4

59,883

108,235

NET CURRENT LIABILITIES

(59,883

)

(108,235

)

TOTAL ASSETS LESS CURRENT LIABILITIES

390,117

341,765

CAPITAL AND RESERVES

Called up share capital

5

75,000

75,000

Revaluation reserve

6

297,052

297,052

Retained earnings

18,065

(30,287

)

SHAREHOLDERS' FUNDS

390,117

341,765

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 17 July 2018 and were signed on its behalf by:

R Prow - Director

1.	STATUTORY INFORMATION

Alexander Rankine 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.

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.

No depreciation is provided for in respect of investment properties in accordance with the Financial Reporting

Standard for Smaller Entities (effective January 2015).Such properties are held for their investment potential and

not for consumption within the business.This is a departure from the Companies Act 2006 which requires all

properties to be depreciated and the directors consider that to depreciate them would not enable the financial

statements to give a true and fair view.Investment properties are stated at their market value at the balance sheet

date.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2016

and 31 October 2017

450,000

NET BOOK VALUE

At 31 October 2017

450,000

At 31 October 2016

450,000

Fair value at 31 October 2017 is represented by:

£

Valuation in 2011

297,052

Valuation in 2014

152,948

450,000

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

31.10.17

31.10.16

£

£

Cost

218,804

218,804

Aggregate depreciation

(65,856

)

(65,856

)

Investment property was valued on an open market basis on 14 June 2011 by Allied Scotland,Chartered Surveyors

.

The directors have confirmed that as at 31st October 2016,there has been no change to the value of the

investment property.

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Amounts owed to group undertakings

47,786

83,786

Tax

11,567

23,919

Accrued expenses

530

530

59,883

108,235

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.17

31.10.16

value:

£

£

75,000

Ordinary

£1

75,000

75,000

6.

RESERVES

Revaluation

reserve

£

At 1 November 2016

and 31 October 2017

297,052

7.	RELATED PARTY DISCLOSURES

Fruin Motors (Holdings) Limited

Ultimate parent company

As at 31st October 2017,the amount on the inter-company loan account due to Fruin Motor (Holdings) Limited

amounted to £47,786 (2016 : £83,786)