Sauchiehall Commercial Investments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC500484 (Scotland)

Financial Statements for the Year Ended 31 March 2018

for

Sauchiehall Commercial Investments Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Bakhsh

REGISTERED OFFICE:

Trident House

175 Renfrew Road

PAISLEY

Renfrewshire

PA3 4EF

REGISTERED NUMBER:

SC500484 (Scotland)

FIXED ASSETS

Investment property

4

1,196,601

465,204

CURRENT ASSETS

Debtors

5

655,800

100

Cash at bank

1,035

-

656,835

100

CREDITORS

Amounts falling due within one year

6

1,364,162

465,924

NET CURRENT LIABILITIES

(707,327

)

(465,824

)

TOTAL ASSETS LESS CURRENT LIABILITIES

489,274

(620

)

PROVISIONS FOR LIABILITIES

92,076

-

NET ASSETS/(LIABILITIES)

397,198

(620

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

397,098

(720

)

SHAREHOLDERS' FUNDS

397,198

(620

)

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 director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 18 December 2018 and were signed by:

S Bakhsh - Director

1.	STATUTORY INFORMATION

Sauchiehall Commercial Investments Ltd 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.

The presentation currency of the financial statements is the Pound 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 as modified by the revaluation of certain assets.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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 NIL (2017 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

465,204

Additions

196,601

Revaluations

534,796

At 31 March 2018

1,196,601

NET BOOK VALUE

At 31 March 2018

1,196,601

At 31 March 2017

465,204

Fair value at 31 March 2018 is represented by:

£

Valuation in 2017

661,805

Valuation in 2018

534,796

1,196,601

If the property had not been revalued it would have been included at the following historical cost:

31.3.18

31.3.17

£

£

Cost

661,805

-

Investment property was valued on an open market basis basis on 30 September 2017 by Jones Lang Lasalle .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Other debtors

655,800

100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Other creditors

1,364,162

465,924

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Amicus loan

927,582

-

Amicus plc holds a standard security and a floating charge which covers the whole of the property and

undertaking of the company.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES

Bakhsh Group Ltd

A company in which Shazad Bakhsh is a director and shareholder.

The company loaned Bakhsh Group Ltd £195,000 in the year. This amount is interest free and has no fixed

repayment terms.

31.3.18

31.3.17

£

£

Amount due from related party at the balance sheet date

195,000

-

Newton Mearns Projects Ltd

A company in which Shazad Bakhsh is a director and shareholder.

The company loaned Newton Mearns Projects Ltd £261,500 and wase repaid £70,000. This amount is interest

free and has no fixed repayment terms..

31.3.18

31.3.17

£

£

Amount due from related party at the balance sheet date

191,500

-

Scotsbridge Commercial Ltd

A company in which Shazad Bakhsh is a director and shareholder.

The company loaned Scotsbridge Commercial Ltd £14,000 in the year. This amount is interest free and has no

fixed repayment terms.

31.3.18

31.3.17

£

£

Amount due from related party at the balance sheet date

14,000

-

Trident (Scotland) Ltd

A company in which Shazad Bakhsh is a director and shareholder

The company loaned Trident (Scotland) Ltd £12,700 in the year. This amount is interest free and has no fixed

repayment terms.

31.3.18

31.3.17

£

£

Amount due from related party at the balance sheet date

12,700

-

Etimon Ltd

A company owned by Shazad Bakhsh's wife

Etimon Ltd loaned the company £11,648 in the year and were repaid £5,500. This amount is interest free and

has no fixed repayment terms.

31.3.18

31.3.17

£

£

Amount due to related party at the balance sheet date

6,148

-