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Unaudited Financial Statements |
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for the Year Ended 31 December 2018 |
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Lhanbryde Operations Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2018 |
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for |
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Lhanbryde Operations Ltd |
Lhanbryde Operations Ltd (Registered number: SC466127) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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Page |
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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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Lhanbryde Operations Ltd |
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Company Information |
for the Year Ended 31 December 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 |
Chartered Tax Advisers |
Pavilion 1 |
Finnieston Business Park |
Minerva Way |
GLASGOW |
G3 8AU |
Lhanbryde Operations Ltd (Registered number: SC466127) |
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Balance Sheet |
31 December 2018 |
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31.12.18 | 31.12.17 |
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 LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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
by: |
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Lhanbryde Operations Ltd (Registered number: SC466127) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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Lhanbryde Operations Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on the basis that the company will continue to trade for the |
foreseeable future. At 31 December 2018 the company's liabilities exceeded its assets by £33,047. The company |
is dependent upon the continued support of its directors and other creditors. The directors are confident that this |
support will be maintained for the foreseeable future. Should this support be withdrawn and the company be |
unable to continue trading, adjustments would have to be made to reduce the balance sheet values of assets to |
their recoverable amounts, and to reclassify fixed assets and long term liabilities as current assets and liabilities. |
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Turnover |
Turnover represents amounts chargeable,excluding value added tax, in respect of the provision of services to |
customers. |
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Revenue from the provision of professional services is recognised in the period in which the service is provided, |
the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the |
transaction will flow to the entity. |
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Financial instruments |
Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured |
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective |
interest method less any impairment. |
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Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair |
value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest |
method. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
Lhanbryde Operations Ltd (Registered number: SC466127) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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Group accounts |
The company has taken advantage of the exemption available under Section 398 of the Companies Act 2006 not |
to prepare group accounts on the grounds that the group qualifies as a small sized group. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any impairment. |
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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 |
Other |
investments |
£ |
COST |
At 1 January 2018 |
and 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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Lhanbryde Operations Ltd (Registered number: SC466127) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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7. | RELATED PARTY DISCLOSURES |
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Included within creditors is an amount due to Lhanbryde Services Limited of £50,000 (2017: £55,000), a |
company in which Mr S Avery is a director and shareholder. This loan is interest free and repayable on demand. |
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Included within creditors is an amount due to Forth Estuary Engineering Holdings Limited of £52,500 (2017: |
£50,500), a company in which Mr G Hughes is a director and shareholder. This loan is interest free and |
repayable on demand. |
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During the year the company invoiced, at cost, Pegasus Power and Communications Limited , a company in |
which each of the directors own a combined 100% shareholding and are also directors, services to the value of |
£199,991 (2017: £154,087). The balance owed by this company as at 31 December 2018 was £147,434 (2017: |
£9,296). |
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During the year the company invoiced, at cost, its associate PCF Construction Ltd services to the value of |
£12,000 (2017: £12,000). The balance owed by this company in relation to these fees as at 31 December 2018 |
was £2,400. |
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During the year the company was invoiced by Lhanbryde Services Ltd, a company in which Mr S Avery is a |
director and Shareholder, consultancy fees totalling £51,981 (2017: £54,402). The balance owed to this company |
at 31 December 2018 was £21,341 (2017: £38,594). |
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Included within debtors is an amount due from AFS (Scotland) Ltd of £25,000, a company in which Mr S Avery |
is a director and shareholder. This loan is interest free and repayable on demand. |