GCJ (No.1) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC331740 (Scotland)

Unaudited Financial Statements

for the Period 1 April 2017 to 31 December 2017

for

GCJ (No.1) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G B Chalmers

J N MacLeod

SECRETARY:

Brodies Secretarial Services Limited

REGISTERED OFFICE:

Brodies House

31-33 Union Grove

Aberdeen

AB10 6SD

REGISTERED NUMBER:

SC331740 (Scotland)

ACCOUNTANTS:

SBP

Accountants

42 Queens Road

Aberdeen

AB15 4YE

FIXED ASSETS

Tangible assets

4

1,046,790

-

CURRENT ASSETS

Cash at bank and in hand

623

2,142

CREDITORS

Amounts falling due within one year

5

161,122

2,142

NET CURRENT LIABILITIES

(160,499

)

-

TOTAL ASSETS LESS CURRENT LIABILITIES

886,291

-

CREDITORS

Amounts falling due after more than one year

6

898,781

-

NET LIABILITIES

(12,490

)

-

CAPITAL AND RESERVES

Called up share capital

106

1

Retained earnings

(12,596

)

(1

)

(12,490

)

-

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 28 September 2018 and were signed on its behalf by:

G B Chalmers - Director

1.	STATUTORY INFORMATION

GCJ (No.1) 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.

At 31 December 2017, the company's liabilities exceeded its total assets. The financial statements have been

prepared on the going concern basis which assumes that the company will continue in operational existence for

the foreseeable future. The validity of this assumption is based upon the continued support of the shareholders.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Taxation

Taxation for the period 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 period 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 period was 2 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

Additions

1,046,790

At 31 December 2017

1,046,790

NET BOOK VALUE

At 31 December 2017

1,046,790

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.3.17

£

£

Bank loans and overdrafts

27,220

-

Other creditors

133,902

2,142

161,122

2,142

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.3.17

£

£

Bank loans

748,781

-

Other creditors

150,000

-

898,781

-

7.	RELATED PARTY DISCLOSURES

Included in creditors is a balance of £63,175 (31/03/17 - £825) due to Lawrence of Kemnay Limited, a company

of which G B Chalmers and J N MacLeod are directors and a balance of £255 (31/03/17 - £255) due to GCJ

Limited a company controlled by G B Chalmers and J N MacLeod.

8.	ULTIMATE CONTROLLING PARTY

The company is jointly controlled by the directors G B Chalmers and J N MacLeod.