Currie European Transport Holdings Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC195091 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

CURRIE EUROPEAN TRANSPORT HOLDINGS

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T W Barrie

S G Turner

SECRETARY:

T W Barrie

REGISTERED OFFICE:

Edinburgh Road

Heathhall

Dumfries

DG1 3NX

REGISTERED NUMBER:

SC195091 (Scotland)

AUDITORS:

Bannerman Johnstone Maclay

Chartered Accountants

and Statutory Auditor

213 St Vincent Street

Glasgow

G2 5QY

BANKERS:

Bank of Scotland

91 High Street

Dumfries

DG1 2BN

FIXED ASSETS

Tangible assets

3

1,144,790

1,144,790

CURRENT ASSETS

Debtors

4

533,030

533,030

CREDITORS

Amounts falling due within one year

5

1,470,080

1,470,080

NET CURRENT LIABILITIES

(937,050

)

(937,050

)

TOTAL ASSETS LESS CURRENT LIABILITIES

207,740

207,740

CAPITAL AND RESERVES

Called up share capital

950,000

950,000

Retained earnings

(742,260

)

(742,260

)

SHAREHOLDERS' FUNDS

207,740

207,740

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 25 September 2018 and were signed on its behalf by:

S G Turner - Director

1.	STATUTORY INFORMATION

Currie European Transport Holdings 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.

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

No depreciation is charged on freehold property as the directors consider the building to have a life of more than

50 years. This is viewed as sufficient reasoning for non-depreciation, according to FRS 102 Section 17.

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 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 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.

Cash flow statement

The company has taken advantage of the exemption contained in Financial Reporting Standard 102 section 7

"Statement of Cash Flows", as the ultimate parent company, Currie International Holdings Limited, has included

a consolidated cash flow statement within its group accounts.

3.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 January 2017

and 31 December 2017

1,340,000

DEPRECIATION

At 1 January 2017

and 31 December 2017

195,210

NET BOOK VALUE

At 31 December 2017

1,144,790

At 31 December 2016

1,144,790

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

533,030

533,030

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed to group undertakings

1,470,080

1,470,080

The bank had a bond and floating charge over the whole assets of the company.

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Douglas Paton BSc CA (Senior Statutory Auditor)

for and on behalf of Bannerman Johnstone Maclay

7.	CONTINGENT LIABILITIES

Inter-company guarantees exist in respect of hire purchase commitments to various suppliers of finance.

The company has also given a corporate guarantee in respect of Currie European Transport Holdings BV, a

company registered in the Netherlands, to the ABN Bank.