Company Registration No. SC184227 (Scotland)
A & M INVESTMENTS (ABERDEEN) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
A & M INVESTMENTS (ABERDEEN) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
A & M INVESTMENTS (ABERDEEN) LIMITED
BALANCE SHEET
AS AT 31 MARCH 2018
31 March 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Investment properties
2
1,700,000
1,849,080
Current assets
Debtors
3
282,261
239,641
Cash at bank and in hand
22,089
20,611
304,350
260,252
Creditors: amounts falling due within one year
4
(163,330)
(168,127)
Net current assets
141,020
92,125
Total assets less current liabilities
1,841,020
1,941,205
Creditors: amounts falling due after more than one year
5
(523,410)
(558,309)
Provisions for liabilities
(6,028)
(41,834)
Net assets
1,311,582
1,341,062
Capital and reserves
Called up share capital
6
10,100
10,100
Revaluation reserve
610,070
723,344
Profit and loss reserves
691,412
607,618
Total equity
1,311,582
1,341,062
A & M INVESTMENTS (ABERDEEN) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2018
31 March 2018
- 2 -

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 31 March 2018 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.

The 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 30 July 2018
Mr A J Still
Director
Company Registration No. SC184227
A & M INVESTMENTS (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
- 3 -
1
Accounting policies
Company information

A & M Investments (Aberdeen) Limited is a private company limited by shares incorporated in Scotland. The registered office is Commerce House, South Street, ELGIN, IV30 1JE.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include investment properties. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for property rental net of VAT.

 

Revenue is recognised in a straight line basis over the term of the lease.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

 

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

A & M INVESTMENTS (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Investment property
2018
£
Fair value
At 1 April 2017
1,849,080
Revaluations
(149,080)
At 31 March 2018
1,700,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2018 by the director. The valuation was made on an open market value basis.

A & M INVESTMENTS (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 5 -
3
Debtors
2018
2017
Amounts falling due within one year:
£
£
Other debtors
282,261
239,641
4
Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
35,044
34,519
Trade creditors
3,000
3,000
Corporation tax
19,656
24,536
Other taxation and social security
2,460
7,240
Other creditors
103,170
98,832
163,330
168,127

Bank loans and overdrafts are secured by fixed and floating charges over the company's assets including properties within investment properties.

5
Creditors: amounts falling due after more than one year
2018
2017
£
£
Bank loans and overdrafts
523,410
558,309

Bank loans and overdrafts are secured by fixed and floating charges over the company's assets including properties within investment properties.

Creditors which fall due after five years are as follows:
2018
2017
£
£
Payable by instalments
371,652
420,232
6
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
10,000 "A" Ordinary shares of £1 each
10,000
10,000
10,100
10,100
7
Related party transactions
A & M INVESTMENTS (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
7
Related party transactions
(Continued)
- 6 -
Transactions with related parties

The following amounts were outstanding at the reporting end date:

2018
2017
Amounts owed to related parties
£
£
Key management personnel
52,632
79,837
2018-03-312017-04-01falseCCH SoftwareCCH Accounts Production 2018.200No description of principal activityMr A J StillMrs M H StillSC1842272017-04-012018-03-31SC1842272018-03-31SC1842272017-03-31SC184227core:CurrentFinancialInstruments2018-03-31SC184227core:CurrentFinancialInstruments2017-03-31SC184227core:Non-currentFinancialInstruments2018-03-31SC184227core:Non-currentFinancialInstruments2017-03-31SC184227core:ShareCapital2018-03-31SC184227core:ShareCapital2017-03-31SC184227core:RevaluationReserve2018-03-31SC184227core:RevaluationReserve2017-03-31SC184227core:RetainedEarningsAccumulatedLosses2018-03-31SC184227core:RetainedEarningsAccumulatedLosses2017-03-31SC184227core:ShareCapitalOrdinaryShares2018-03-31SC184227core:ShareCapitalOrdinaryShares2017-03-31SC184227bus:Director12017-04-012018-03-31SC184227bus:OrdinaryShareClass12017-04-012018-03-31SC184227bus:OrdinaryShareClass22017-04-012018-03-31SC184227bus:OrdinaryShareClass12018-03-31SC184227bus:OrdinaryShareClass22018-03-31SC184227bus:PrivateLimitedCompanyLtd2017-04-012018-03-31SC184227bus:FRS1022017-04-012018-03-31SC184227bus:AuditExemptWithAccountantsReport2017-04-012018-03-31SC184227bus:SmallCompaniesRegimeForAccounts2017-04-012018-03-31SC184227bus:CompanySecretary12017-04-012018-03-31SC184227bus:FullAccounts2017-04-012018-03-31xbrli:purexbrli:sharesiso4217:GBP