Company Registration No. SC000364 (Scotland)
STANDARD PROPERTY INVESTMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
STANDARD PROPERTY INVESTMENT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
STANDARD PROPERTY INVESTMENT LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2019
31 December 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
4
5,551,204
5,551,204
Creditors: amounts falling due within one year
5
(801,632)
(801,632)
Net current assets
4,749,572
4,749,572
Capital and reserves
Called up share capital
6
5,800,000
5,800,000
Profit and loss reserves
(1,050,428)
(1,050,428)
Total equity
4,749,572
4,749,572
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 21 December 2020 and are signed on its behalf by:
Mr A D M MacDonald
Director
Company Registration No. SC000364
STANDARD PROPERTY INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 2 -
1
Accounting policies
Company information
Standard Property Investment Limited is a
private
company
limited by shares
incorporated in Scotland.
The registered office is
Caledonian Exchange, 19a Canning Street, Edinburgh, Midlothian, United Kingdom, EH3 8HE.
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
Profit and loss account
The company has not traded during the year or the preceding financial
period
. During
this time
the company received no income and incurred no expenditure and therefore no Profit and loss account is presented
in these financial statements.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2018 - 2).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2019 and 31 December 2019
55,343
Depreciation and impairment
At 1 January 2019 and 31 December 2019
55,343
Carrying amount
At 31 December 2019
-
At 31 December 2018
-
STANDARD PROPERTY INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 3 -
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
5,476,790
5,476,790
Other debtors
74,414
74,414
5,551,204
5,551,204
5
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
74,414
74,414
Amounts owed to related parties
301,920
301,920
Other creditors
425,298
425,298
801,632
801,632
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
1,160,000 - Ordinary shares of £5 each
5,800,000
5,800,000
6
Parent company
The ultimate parent undertaking is MacDonald Orr Limited, a company registered in Scotland and incorporated in Great Britain.
7
Related Party Transactions
The amount owed by related parties is due from Standard Property Investment Limited, a company controlled by Mr MacDonald and Mr Orr.
The amount due to related parties is due to Orrmac (No:500) Ltd, a company controlled by Mr MacDonald and Mr Orr.