Dimension Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC262771 (Scotland)

Dimension Homes Limited

Unaudited Financial Statements

for the Year Ended 28 February 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A N Cook

Mrs E M S Cook

J A Cook

SECRETARY:

A N Cook

REGISTERED OFFICE:

25 Hugh Miller Place

Edinburgh

EH3 5JG

REGISTERED NUMBER:

SC262771 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

The Royal Bank of Scotland plc

Edinburgh West End Office

142-144 Princes Street

Edinburgh

EH2 4EQ

FIXED ASSETS

Tangible assets

4

10,408

15,611

Investments

5

50

50

10,458

15,661

CURRENT ASSETS

Stocks

259,624

137,336

Debtors

6

76,041

34,475

Cash at bank

258,159

338,455

593,824

510,266

CREDITORS

Amounts falling due within one year

7

34,305

17,631

NET CURRENT ASSETS

559,519

492,635

TOTAL ASSETS LESS CURRENT LIABILITIES

569,977

508,296

CREDITORS

Amounts falling due after more than one year

8

(85,850

)

(85,850

)

PROVISIONS FOR LIABILITIES

(1,985

)

(2,966

)

NET ASSETS

482,142

419,480

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

482,042

419,380

SHAREHOLDERS' FUNDS

482,142

419,480

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 30 November 2018 and were signed on its behalf by:

J A Cook - Director

1.	STATUTORY INFORMATION

Dimension Homes 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.

Turnover and revenue recognition

The turnover shown in the profit and loss account represents fees for property management,

management consultancy and the development of client properties. Turnover is recognised when

the service is provided.

Tangible fixed assets

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

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% on cost

Stocks

Stock is recorded at the lower of cost and net realisable value.

Financial instruments

Financial instruments comprise financial assets and financial liabilities which are recognised when

the company becomes a party to the contractual provisions of the instrument. Financial

instruments are classified as "basic" in accordance with FRS102 and are accounted for at amortised

cost using the effective interest method. The effective interest rate is the rate that exactly discounts

estimated future cash flows over the life of the financial assets or liability to the net carrying

amount on initial recognition. Discounting is not applied to short-term receivables and payables,

where the effect is immaterial. Financial assets comprise cash and financial liabilities accruals.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 March 2017

and 28 February 2018

1,951

20,815

22,766

DEPRECIATION

At 1 March 2017

1,951

5,204

7,155

Charge for year

-

5,203

5,203

At 28 February 2018

1,951

10,407

12,358

NET BOOK VALUE

At 28 February 2018

-

10,408

10,408

At 28 February 2017

-

15,611

15,611

5.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 March 2017

and 28 February 2018

50

NET BOOK VALUE

At 28 February 2018

50

At 28 February 2017

50

Dimension Homes Limited owns 50% of the issued ordinary shares of £1 each in Zinc Developments

Limited, a company registered in Scotland and involved in property development. The most recent

accounts prepared for Zinc Developments limited are for the period ended 30 September 2017. The

aggregate capital and reserves of Zinc Developments Limited at 30 September 2017 were £113,425

(2016: £ 803,802) and the loss for the period was £89,623 (2016: £466,621).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

33,500

-

Other debtors

1,567

-

Director's current account

23,153

17,927

Corporation tax recoverable

2,483

7,550

Section 419 and 455 tax

recoverable

6,533

4,835

VAT

8,805

4,163

76,041

34,475

Interest is charged on overdrawn directors' current account balances at a rate of 4% per annum.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed to participating interests

8,911

8,911

Amounts owed to associates

-

2,055

Corporation tax

13,957

2,654

Director's current account

2,620

2,620

Other creditors and accruals

8,817

1,391

34,305

17,631

The directors' current accounts are unsecured, interest free and have no fixed terms of repayment.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans more 5 yrs non-inst

85,850

85,850

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

85,850

85,850

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

85,850

85,850

The bank loan is secured by a fixed standard security over the property owned by the company,

included in stock, and a floating charge over all of the assets of the company in favour of The Royal

Bank of Scotland plc.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2018

and 28 February 2017:

2018

2017

£

£

J A Cook

Balance outstanding at start of year

17,928

13,208

Amounts advanced

8,225

4,720

Amounts repaid

(3,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

23,153

17,928

Interest is charged on overdrawn directors' current account balances at a rate of 4% per annum.

11.	POST BALANCE SHEET EVENTS

The property at 143 Granton Road was successfully sold in April 2018.