Holmes Miller International Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC116088

HOLMES MILLER INTERNATIONAL LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Investments

4

50,300

50,300

CURRENT ASSETS

Debtors

5

6,375

2,073

Cash at bank

7,330

5,087

13,705

7,160

CREDITORS

Amounts falling due within one year

6

204,937

160,597

NET CURRENT LIABILITIES

(191,232

)

(153,437

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(140,932

)

(103,137

)

CAPITAL AND RESERVES

Called up share capital

1,003

1,003

Retained earnings

(141,935

)

(104,140

)

SHAREHOLDERS' FUNDS

(140,932

)

(103,137

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 29 June 2018 and were signed on its behalf by:

C M Houston - Director

1.	STATUTORY INFORMATION

Holmes Miller International Limited is a private company, limited by shares, registered in Scotland. The

company's registered office address is 89 Minerva Street, Glasgow, G3 8LE.

The financial statements are presented in 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.

There were no material departures from the standard.

The financial statements have been prepared on the going concern basis on the assumption of continued support

from the associated company Holmes Miller Limited.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax. The company's policy is to

recognise a sale when substantively all the risks and rewards in connection with the services have been passed to

the buyer.

Investments in subsidiaries

Investments representing shareholdings in unquoted subsidiary undertakings are stated at cost less impairment.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is

calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in

respect of all timing differences that have originated but not reversed at the balance sheet date. However,

deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that

there will be suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in

the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted

at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is

presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the

transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Financial instruments

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

financial instruments are initially recognised at transaction value and subsequently measured at their settlement

value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2017

and 31 March 2018

50,300

NET BOOK VALUE

At 31 March 2018

50,300

At 31 March 2017

50,300

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

6,375

2,073

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts due to associated

company

202,938

132,253

Taxation and social security

311

(184

)

Other creditors

1,688

28,528

204,937

160,597

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, the directors owed the company £1,003 (2017: £1,003). These amounts are interest free and

repayable on demand.