Free Range Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC399773 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

FOR

FREE RANGE INVESTMENTS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

J Costello

G R Brown

REGISTERED OFFICE:

C/O Callander Estates

9 Woodside Crescent

Glasgow

G3 7UL

REGISTERED NUMBER:

SC399773 (Scotland)

ACCOUNTANTS:

Thomas Barrie & Co LLP

Atlantic House

1a Cadogan Street

Glasgow

G2 6QE

CURRENT ASSETS

868,009

Stocks

1,319,423

116,702

Debtors

4

122,836

261,338

Cash at bank

11,280

1,246,049

1,453,539

CREDITORS

448,773

Amounts falling due within one year

5

694,208

797,276

NET CURRENT ASSETS

759,331

797,276

TOTAL ASSETS LESS CURRENT LIABILITIES

759,331

CAPITAL AND RESERVES

4

Called up share capital

4

797,272

Retained earnings

759,327

797,276

SHAREHOLDERS' FUNDS

759,331

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 27 August 2018 and were signed on its behalf by:

J Costello - Director

1.	STATUTORY INFORMATION

Free Range Investments Limited is a private company, limited by shares, registered in Scotland, registration

number SC399773 . The registered office is 9 Woodside Crescent, Glasgow, G3 7UL.

The presentation currency of the financial statements is Pounds Sterling (£).

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.

Significant judgements and estimates

In preparing these financial statements, the directors are required to make judgements, estimates and

assumptions that affect the application of the Company's accounting policies and the reported amounts of assets,

liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying

assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

There are no significant judgements or estimates used in the preparation of these accounts.

Turnover

Turnover is measured at the fair value of consideration received or receivable in relation to rental income and

related management services, excluding value added tax and other sales taxes.

Rental income

Income from property rental is recognised on a straight-line basis over the term of the relevant lease.

Services

Income from management services is recognised when performed, such that risks and rewards have been

transferred.

Stock & work in progress

Work in progress includes all costs incurred to date in relation to the purchase and development of land.

Financial instruments

The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the

effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents comprises cash balances. Bank overdrafts that are payable 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.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans,

are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost

using the effective interest method.

Provisions

Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current

market assessments of the time value of money and the risks specific to the liability. The unwinding of the

discount is recognised as finance cost.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Short term employee benefits

Short term employee benefits, including holiday pay, are recognised as an expense in profit and loss in the

period in which they are incurred. A liability is recognised for the amount expected to be paid if the company

has a present legal or constructive obligation to pay this amount as a result of past service provided by the

employee, and the obligation can be estimated reliably.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by associates

111,325

111,275

Other debtors

11,511

5,427

122,836

116,702

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

33,417

3,229

Amounts owed to associates

75,000

-

Taxation and social security

356

60,541

Other creditors

585,435

385,003

694,208

448,773