REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 March 2022 |
|
for |
|
Argyll Hydro Management Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 March 2022 |
|
for |
|
Argyll Hydro Management Limited |
Argyll Hydro Management Limited (Registered number: SC611349) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
Argyll Hydro Management Limited |
|
Company Information |
for the Year Ended 31 March 2022 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
6 Logie Mill |
Edinburgh |
Lothian |
EH7 4HG |
Argyll Hydro Management Limited (Registered number: SC611349) |
|
Balance Sheet |
31 March 2022 |
|
31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 7 |
|
|
Retained earnings |
|
|
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. |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
|
The financial statements were approved by the director and authorised for issue on
|
|
|
|
|
|
|
|
Argyll Hydro Management Limited (Registered number: SC611349) |
|
Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
|
1. | STATUTORY INFORMATION |
|
Argyll Hydro Management Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. |
|
Tangible fixed assets |
|
|
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is |
provided on all tangible fixed assets, other than investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows: |
|
Freehold Property - 2% per annum |
|
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life. |
|
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
|
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
|
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. |
Argyll Hydro Management Limited (Registered number: SC611349) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
|
2. | ACCOUNTING POLICIES - continued |
|
Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company. |
|
Provisions |
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. |
|
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was NIL (2021 - NIL). |
|
4. | TANGIBLE FIXED ASSETS |
Freehold |
property |
£ |
COST |
At 1 April 2021 |
and 31 March 2022 |
|
DEPRECIATION |
At 1 April 2021 |
|
Charge for year |
|
At 31 March 2022 |
|
NET BOOK VALUE |
At 31 March 2022 |
|
At 31 March 2021 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
7. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.22 | 31.3.21 |
value: | £ | £ |
|
Ordinary shares | £1 | 100 | 100 |
Argyll Hydro Management Limited (Registered number: SC611349) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
|
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
|
As at 31 March 2022, the company owed the director £13,121 (2021: £19,317). |
|
9. | RELATED PARTY DISCLOSURES |
|
During the year, total dividends of £2,000 (2021 - £2,000) were paid to the director . |
|
Transactions with related parties during the period and balances outstanding at the year end were as follows: |
|
Related Party |
Transaction Type |
Transactions in the year ended 31.03.22 |
Transactions in the year ended 31.03.21 |
Balance
receivable from / (payable) to related party as at 31.03.22 |
Balance
receivable from / (payable) to related party as at 31.03.21 |
£ | £ | £ |
|
Drim Lee Limited | Profit share | 24,454 | 25,502 | 52,981 | 28,527 |
|
Drim Lee Limited | Accountancy | (1,200) | Nil | Nil | 1,200 |
Expense |
|
Garvie Hydro Limited |
Accountancy
Expense |
403 |
403 |
806 |
403 |
|
A director of the company is also a director of Drim Lee Limited. |
|
A director of the company is also a director of Garvie Hydro Limited |
|
10. | ULTIMATE CONTROLLING PARTY |
|
The ultimate controlling party is Tim Hedley. |