REGISTERED NUMBER: SC337347 (Scotland)

ABBANOY COMMERCIAL INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr E Bascetta

G M Bascetta

REGISTERED OFFICE:

145 St Vincent Street

6th Floor

Glasgow

G2 5JF

REGISTERED NUMBER:

SC337347 (Scotland)

ACCOUNTANTS:

Benham Conway & Co

16 Royal Crescent

Glasgow

G3 7SL

FIXED ASSETS

Intangible assets

4

9,028

12,133

Tangible assets

5

2,661

8,712

Investment property

6

977,849

977,849

989,538

998,694

CURRENT ASSETS

Stocks

1,826

1,385

Debtors

7

4,420

8,816

Cash at bank

4,249

4,186

10,495

14,387

CREDITORS

Amounts falling due within one year

8

880,945

876,951

NET CURRENT LIABILITIES

(870,450

)

(862,564

)

TOTAL ASSETS LESS CURRENT LIABILITIES

119,088

136,130

PROVISIONS FOR LIABILITIES

505

1,743

NET ASSETS

118,583

134,387

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

118,581

134,385

SHAREHOLDERS' FUNDS

118,583

134,387

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31 May 2018 and were signed on its behalf by:

Dr E Bascetta - Director

1.	STATUTORY INFORMATION

Abbanoy Commercial Investments Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

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 represents sales of goods and services provided during the year, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Franchise fees are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Investment property

Land and buildings are classified as investment property when the property is held to earn rentals or for capital appreciation

or both. Investment property is initially measured at cost which comprises purchase price and any directly attributable

expenditure, and subsequently remeasured to fair value at each reporting date with changes in fair value recognised in profit

or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Franchise

fees

£

COST

At 1 September 2016

and 31 August 2017

20,697

AMORTISATION

At 1 September 2016

8,564

Amortisation for year

3,105

At 31 August 2017

11,669

NET BOOK VALUE

At 31 August 2017

9,028

At 31 August 2016

12,133

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2016

68,707

Additions

250

At 31 August 2017

68,957

DEPRECIATION

At 1 September 2016

59,995

Charge for year

6,301

At 31 August 2017

66,296

NET BOOK VALUE

At 31 August 2017

2,661

At 31 August 2016

8,712

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2016

and 31 August 2017

977,849

NET BOOK VALUE

At 31 August 2017

977,849

At 31 August 2016

977,849

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade debtors

1,642

4,954

Other debtors

191

1,275

Tax recoverable

2,587

2,587

4,420

8,816

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade creditors

9,021

6,250

Directors' loan account

806,493

811,902

Taxation and social security

19,349

15,513

Other creditors

46,082

43,286

880,945

876,951

9.	OTHER FINANCIAL COMMITMENTS

At 31 August 2017 the company was committed to make total payments under non-cancellable operating leases of

£212,926 (2016, £133,399).

10.	RELATED PARTY DISCLOSURES