Company Registration No. SC268420 (Scotland)
ALCHEMIST ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
PAGES FOR FILING WITH REGISTRAR
ALCHEMIST ESTATES LIMITED
COMPANY INFORMATION
Director
Mr B Gillies
Secretary
Mrs J Cruden
Company number
SC268420
Registered office
Titanium 1
Kings Inch Place
Renfrew
Renfrewshire
United Kingdom
PA4 8WF
Accountants
Azets
Titanium 1
Kings Inch Place
Renfrew
Renfrewshire
United Kingdom
PA4 8WF
ALCHEMIST ESTATES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ALCHEMIST ESTATES LIMITED
BALANCE SHEET
AS AT 30 JUNE 2021
30 June 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,663
2,079
Current assets
Debtors
5
1,032,730
1,319,984
Cash at bank and in hand
31,901
26,837
1,064,631
1,346,821
Creditors: amounts falling due within one year
6
(992,463)
(1,158,405)
Net current assets
72,168
188,416
Net assets
73,831
190,495
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
72,831
189,495
Total equity
73,831
190,495
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 30 June 2021 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 31 March 2022
Mr B Gillies
Director
Company Registration No. SC268420
ALCHEMIST ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
- 2 -
1
Accounting policies
Company information
Alchemist Estates Limited is a
private
company
limited by shares
incorporated in
Scotland
.
The registered office is
Titanium 1, Kings Inch Place, Renfrew, Renfrewshire, United Kingdom, PA4 8WF.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he director has a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% Reducing Balance
Computers
20% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
ALCHEMIST ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
3
Impairments
Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:
2021
2020
Notes
£
£
In respect of:
Investments in associates
100,896
(5,618)
Recognised in:
Amounts written off investments
100,896
(5,618)
The impairment losses in respect of financial assets are recognised in other gains and losses in the profit and loss account.
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2020 and 30 June 2021
45,354
Depreciation and impairment
At 1 July 2020
43,275
Depreciation charged in the year
416
At 30 June 2021
43,691
Carrying amount
At 30 June 2021
1,663
At 30 June 2020
2,079
ALCHEMIST ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
- 4 -
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
103,500
103,500
Other debtors
929,230
1,216,484
1,032,730
1,319,984
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
454
5,464
Other creditors
992,009
1,152,941
992,463
1,158,405
7
Related party transactions
The following amounts were outstanding at the reporting end date:
2021
2020
Amounts due to related parties
£
£
Other related parties
2,724
124,617
The following amounts were outstanding at the reporting end date:
2021
2020
Amounts due from related parties
£
£
Other related parties
929,072
1,216,257
Loans due to / from related parties are unsecured, interest free and have no fixed terms of repayment.