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REGISTERED NUMBER:
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RED EYE DEVELOPMENTS (PARK |
TERRACE) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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REGISTERED NUMBER:
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RED EYE DEVELOPMENTS (PARK |
TERRACE) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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RED EYE DEVELOPMENTS (PARK |
TERRACE) LIMITED (REGISTERED NUMBER: SC388890) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Chartered Accountants' Report | 5 |
RED EYE DEVELOPMENTS (PARK |
TERRACE) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Citypoint 2 |
25 Tyndrum Street |
Glasgow |
G4 0JY |
RED EYE DEVELOPMENTS (PARK |
TERRACE) LIMITED (REGISTERED NUMBER: SC388890) |
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BALANCE SHEET |
30 NOVEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Share premium |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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RED EYE DEVELOPMENTS (PARK |
TERRACE) LIMITED (REGISTERED NUMBER: SC388890) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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1. | STATUTORY INFORMATION |
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Red Eye Developments (Park Terrace) Limited is a private company, limited by shares, registered in Scotland. |
The company's registered number is SC388890 and its registered office is c/o Hardie Caldwell LLP, Citypoint 2, |
25 Tyndrum Street, Glasgow, G4 0JY. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going Concern |
The company has cash resources and has no requirement for external borrowing. The company has explored and |
bid for development opportunities but these have not yet come to fruition.The directors will continue this |
activity. The directors have a reasonable expectation that the company has adequate resources to continue in |
operational existence for the foreseeable future. They continue to believe the going concern basis of accounting |
appropriate in preparing the annual financial statements. |
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Financial instruments |
Debtors |
Other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable |
amounts when there is objective evidence that the asset is impaired. |
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Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of |
maturity, being twelve months or less, from the opening of the deposit or similar account. |
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Creditors |
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a |
past event and are recognised at the settlement amount due after allowing for any trade discounts due. |
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Investment in subsidiary undertakings |
Investment in subsidiary undertakings are stated at cost. |
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Consolidation |
The company is entitled to the exemption from preparing group financial statements conferred by section 398 of |
the Companies Act 2006. As such these financial statements only reflect the transactions entered into by the |
company and not by the group as a whole. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | FIXED ASSET INVESTMENTS |
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The investment represents the cost of 100 Ordinary shares of £1 each in Red Eye Developments (Properties) |
Limited, a company registered in Scotland and incorporated in Great Britain. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
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RED EYE DEVELOPMENTS (PARK |
TERRACE) LIMITED (REGISTERED NUMBER: SC388890) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2018 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Taxation and social security | ( |
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Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 46 | 46 |
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8. | RELATED PARTY DISCLOSURES |
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During the year the company had the following transactions with related parties: |
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Related Party |
Transaction |
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Balance as at
30/11/18 |
Balance as at
30/11/17 |
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A Garrick (Director) | Loan | 420,531dr | 578,014dr | 157,483dr |
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J Muir (Director) | Loan | 420,531dr | 578,014dr | 157,483dr |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
RED EYE DEVELOPMENTS (PARK |
TERRACE) LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Red Eye Developments (Park Terrace) Limited for the year ended 30 November 2018 which |
comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the |
related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
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This report is made solely to the Board of Directors of Red Eye Developments (Park Terrace) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Red Eye Developments (Park Terrace) Limited and state those matters that we have agreed to state to the Board of Directors of Red Eye Developments (Park Terrace) Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Red Eye Developments (Park Terrace) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Red Eye Developments (Park Terrace) Limited. You consider that Red Eye Developments (Park Terrace) Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Red Eye Developments (Park Terrace) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
Citypoint 2 |
25 Tyndrum Street |
Glasgow |
G4 0JY |
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