Company Registration No. SC186537 (Scotland)
GRINMOST (NO 90) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
GRINMOST (NO 90) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
GRINMOST (NO 90) LTD
BALANCE SHEET
AS AT
31 MARCH 2019
31 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Investments
3
262,501
262,501
Current assets
Debtors
4
49,626
1,626
Cash at bank and in hand
43,423
62,759
93,049
64,385
Creditors: amounts falling due within one year
5
(186,794)
(187,094)
Net current liabilities
(93,745)
(122,709)
Total assets less current liabilities
168,756
139,792
Capital and reserves
Called up share capital
6
10
10
Profit and loss reserves
168,746
139,782
Total equity
168,756
139,792
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 18 December 2019
Mr I M Shand
Director
Company Registration No. SC186537
GRINMOST (NO 90) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
- 2 -
1
Accounting policies
Company information
Grinmost (No 90) Ltd is a
private
company
limited by shares
incorporated in Scotland.
The registered office is
1 Rutland Court, Edinburgh, EH3 8EY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.3
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, loans, hire purchase and directors' loans.
Loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.
Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
GRINMOST (NO 90) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2018 - 1).
3
Fixed asset investments
2019
2018
£
£
Investments
262,501
262,501
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2018 & 31 March 2019
262,501
Carrying amount
At 31 March 2019
262,501
At 31 March 2018
262,501
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Other debtors
49,626
1,626
5
Creditors: amounts falling due within one year
2019
2018
£
£
Amounts owed to group undertakings
120,028
120,028
Other creditors
66,766
67,066
186,794
187,094
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
10 Ordinary shares of £1 each
10
10
GRINMOST (NO 90) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 4 -
7
Ultimate controlling party
In the directors opinion, I M Shand is the company's ultimate controlling party by virtue of his shareholding.