|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 30 June 2017 |
|
for |
|
Alchemist Estates Limited |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 30 June 2017 |
|
for |
|
Alchemist Estates Limited |
Alchemist Estates Limited (Registered number: SC268420) |
|
Contents of the Financial Statements |
for the Year Ended 30 June 2017 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Alchemist Estates Limited |
|
Company Information |
for the Year Ended 30 June 2017 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
SECRETARY: |
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
ACCOUNTANTS: |
|
Accountants |
Titanium 1 |
King's Inch Place |
Renfrew |
PA4 8WF |
|
|
|
BANKERS: |
|
Glasgow City Branch |
10 Gordon Street |
Glasgow |
Lanarkshire |
G1 3PL |
Alchemist Estates Limited (Registered number: SC268420) |
|
Balance Sheet |
30 June 2017 |
|
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
|
|
Investments | 6 |
|
|
Investment property | 7 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 8 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 9 |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
|
( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 10 |
|
|
Retained earnings | 11 |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
Alchemist Estates Limited (Registered number: SC268420) |
|
Balance Sheet - continued |
30 June 2017 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director on
|
|
|
|
|
|
|
|
Alchemist Estates Limited (Registered number: SC268420) |
|
Notes to the Financial Statements |
for the Year Ended 30 June 2017 |
|
|
1. | STATUTORY INFORMATION |
|
Alchemist Estates Limited is a
|
company's registered number and registered office address can be found on the Company Information |
page. |
|
The presentation currency of the financial statements is pound sterling (£). |
|
Monetary amounts in these financial statements are rounded to the nearest £. |
|
2. | STATEMENT OF COMPLIANCE |
|
|
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
This is the first year the financial statements have been prepared under FRS 102. The company has |
transitioned to FRS 102 from previously extant UK GAAP as at 1 July 2015. The reported financial |
position and financial performance for the previous period are not affected by the transition to FRS |
102. |
|
With the continued support of the director, its subsidiary and associated companies, the company will |
be able to meet its debts as they fall due. In addition, the director believes that current and future |
sources of funding will be more than adequate for the company's needs. As such, it is therefore |
appropriate that the financial statements be prepared on the going concern basis. |
|
Preparation of consolidated financial statements |
The financial statements contain information about Alchemist Estates Limited as an individual |
company and do not contain consolidated financial information as the parent of a group. The company |
has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated |
financial statements. |
Alchemist Estates Limited (Registered number: SC268420) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
|
|
3. | ACCOUNTING POLICIES - continued |
|
Significant judgements and estimates |
The preparation of Financial Statements required management to make judgements, estimates and |
assumptions that affect the application of accounting policies and reported amounts of assets, |
liabilities, income and expenses. Actual results may differ from these estimates. Estimates and |
assumptions are reviewed on an ongoing basis and revisions to estimates are recognised in the period |
in which the estimate is revised and in any future periods affected. |
|
The estimates, assumptions and judgements that have a significant risk of causing a material |
adjustment to the carrying amount of assets and liabilities within the financial statements within the |
next financial year are addressed below: |
|
Investment property valuations |
|
Investment properties are included at fair value. A review of the carrying value is undertaken at each |
balance sheet date and any movement in value adjusted accordingly. |
|
Turnover |
Turnover represents property management charges in the period, net of value added tax. |
|
Tangible fixed assets |
|
Fixtures and fittings | - |
|
Computer equipment | - |
|
|
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
|
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 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. |
|
Alchemist Estates Limited (Registered number: SC268420) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
|
|
3. | ACCOUNTING POLICIES - continued |
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. |
|
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period |
of the lease. |
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2016 |
|
|
|
Additions |
|
|
|
At 30 June 2017 |
|
|
|
DEPRECIATION |
At 1 July 2016 |
|
|
|
Charge for year |
|
|
|
At 30 June 2017 |
|
|
|
NET BOOK VALUE |
At 30 June 2017 |
|
|
|
At 30 June 2016 |
|
|
|
Alchemist Estates Limited (Registered number: SC268420) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
|
|
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2016 |
and 30 June 2017 |
|
NET BOOK VALUE |
At 30 June 2017 |
|
At 30 June 2016 |
|
|
The company's investments at the Balance Sheet date in the share capital of companies include the |
following: |
|
|
Registered office: |
Nature of business:
|
% |
Class of shares: | holding |
|
|
2017 | 2016 |
£ | £ |
Aggregate capital and reserves |
|
|
Profit for the year |
|
|
|
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2016 |
and 30 June 2017 |
|
NET BOOK VALUE |
At 30 June 2017 |
|
At 30 June 2016 |
|
|
If the investment property portfolio had not been revalued, it would have been included at a cost of |
£220,000 (2016- £220,000). |
|
Investment properties were valued on an open market basis on 30 June 2017 by Mr Brian Gillies. Mr |
Gillies is a chartered surveyor. |
Alchemist Estates Limited (Registered number: SC268420) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
|
|
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
Prepayments and accrued income |
|
|
|
|
|
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other loans |
|
|
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
VAT |
|
|
Other creditors |
|
|
Directors' current accounts |
|
|
Accruals and deferred income |
|
|
|
|
|
10. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
|
Ordinary | £1 |
|
|
|
11. | RESERVES |
Retained |
earnings |
£ |
|
At 1 July 2016 |
|
Profit for the year |
|
At 30 June 2017 |
|
|
12. | CONTINGENT LIABILITIES |
|
The facilities of associated companies are secured by bond and floating charge over the assets of the |
company in favour of the Royal Bank of Scotland plc. |
Alchemist Estates Limited (Registered number: SC268420) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
|
|
13. | RELATED PARTY DISCLOSURES |
|
Other related parties under common control |
|
Gross |
Provisio
n |
Gross |
Provision |
2017 | 2017 | 2016 | 2016 |
£ | £ | £ | £ |
Amounts due from related parties | 3,551,201 | (699,287 | ) | 2,437,038 | (777,122 | ) |
Management charges charged to related parties | 130,000 | - | 115,000 | - |
Amounts due to related parties | 1,580,516 | - | 1,771,357 | - |
Balances due to related parties charged to profit or
loss |
70,189 |
- |
215,801 |
- |
Dividends received from related party | - | - | 220,000 | - |
|
|
14. | ULTIMATE CONTROLLING PARTY |
|
The company is under the control of
|
|
15. | FIRST YEAR ADOPTION |
|
For all periods up to and including the year ended 30 June 2016, the Company prepared its financial |
statements in accordance with previously exant United Kingdom generally accepted accounting |
practice (UK GAAP). These financial statements, for the year ended 30 June 2017, are the first year |
the Company has prepared in accordance with FRS102. The significant accounting policies in |
meeting those requirements are described in relevant notes. |