Company Registration No. SC533193 (Scotland)
JOHN S. PIRRIE & FAMILY HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
JOHN S. PIRRIE & FAMILY HOLDINGS LIMITED
COMPANY INFORMATION
Directors
J S Pirrie
Mrs L S Pirrie
Company number
SC533193
Registered office
221 West George Street
Glasgow
G2 2ND
Accountants
Campbell Dallas
Titanium 1
King's Inch Place
Renfrew
PA4 8WF
JOHN S. PIRRIE & FAMILY HOLDINGS LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
JOHN S. PIRRIE & FAMILY HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2019
31 December 2019
- 1 -
2019
2018
Notes
£
£
£
£
Non-current assets
Investments
3
100
100
Current assets
Trade and other receivables
4
-
12,500
Cash and cash equivalents
46,791
2,560
46,791
15,060
Current liabilities
5
(33,798)
(4,266)
Net current assets
12,993
10,794
Total assets less current liabilities
13,093
10,894
Equity
Called up share capital
6
600
600
Retained earnings
12,493
10,294
Total equity
13,093
10,894
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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 by the board of directors and authorised for issue on 19 August 2020 and are signed on its behalf by:
J S Pirrie
Director
Company Registration No. SC533193
JOHN S. PIRRIE & FAMILY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 2 -
1
Accounting policies
Company information
John S. Pirrie & Family Holdings Limited is a
private
company
limited by shares
incorporated in Scotland.
The company's registered number and registered office address can be found on the Company Information Page.
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
The company pays special attention to the recent COVID-19 pandemic and the associated impact on the business.
true
The current and future financial performance of the company and its cash flows has been reviewed and continues to be reviewed on a regular basis by the directors.
Although it is not possible to estimate the length or severity of the outbreak, at the time of approving the financial statements, the directors consider the business to have adequate resources to navigate all foreseeable circumstances.
As such, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.
1.3
Non-current 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.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
1.4
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.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
JOHN S. PIRRIE & FAMILY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2018 - 2).
3
Fixed asset investments
2019
2018
£
£
Investments
100
100
Movements in non-current investments
Shares in group undertakings and participating interests
£
Cost or valuation
At 1 January 2019 & 31 December 2019
100
Carrying amount
At 31 December 2019
100
At 31 December 2018
100
4
Trade and other receivables
2019
2018
Amounts falling due within one year:
£
£
Prepayments and accrued income
-
12,500
JOHN S. PIRRIE & FAMILY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 4 -
5
Current liabilities
2019
2018
£
£
Trade payables
-
600
Other payables
30,900
900
Accruals and deferred income
2,898
2,766
33,798
4,266
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 A Ordinary shares of £1 each
100
100
100 B Ordinary shares of £1 each
100
100
100 C Ordinary shares of £1 each
100
100
100 D Ordinary shares of £1 each
100
100
100 E Ordinary shares of £1 each
100
100
100 F Ordinary shares of £1 each
100
100
600
600
Ordinary A and B share capital has equal voting rights all share classes have equal right to earn dividends.
7
Events after the reporting date
Disclosures with regards to the COVID-19 pandemic can be seen in the Directors report and note 1.2 to the financial statements.
8
Related party transactions
Included within other payables is an amount of £900
(201
8
- £900)
due to the director J S Pirrie, The loan is interest free and has no fixed repayment terms.
Dividends of £37,500 (2018 - £nil) were received from Cadder Holdings Limited, an associated undertaking.
Dividends of £nil (2018 - £12,500) were received from LCH Holdings, an associated undertaking.
During the period, the company purchased £
2,416
(201
8
- £1
,816
) of services in arms length transactions from Nevis Capital LLP, an organisation in which a director of the company, J S Pirrie, is a designated member. At 31 December 201
9
,
£nil (2018 - £600)
was outstanding.
9
Directors' transactions
Dividends totalling £30,000 (2018 - £0) were paid in the year in respect of shares held by the company's directors.
JOHN S. PIRRIE & FAMILY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 5 -
10
Parent company
The company is under the control of its directors.