Registration number:
David Philp Holdings Limited
for the Year Ended 31 March 2019
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX
David Philp Holdings Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
David Philp Holdings Limited
Company Information
Directors |
D Philp Jnr H Anderson |
Registered office |
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Accountants |
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Page 1 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
David Philp Holdings Limited
for the Year Ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of David Philp Holdings Limited for the year ended 31 March 2019 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the Board of Directors of David Philp Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of David Philp Holdings Limited and state those matters that we have agreed to state to the Board of Directors of David Philp Holdings Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than David Philp Holdings Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that David Philp Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of David Philp Holdings Limited. You consider that David Philp Holdings Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of David Philp Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Accountants
Quarrywood Court
Livingston
West Lothian
EH54 6AX
Page 2 |
David Philp Holdings Limited
(Registration number: SC379266)
Balance Sheet as at 31 March 2019
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2018 |
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Current assets |
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Investments |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Total equity |
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For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the Sections 386 and 387 of the Companies Act 2006 with respect to accounting records and the preparation of the 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. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 3 |
David Philp Holdings Limited
(Registration number: SC379266)
Balance Sheet as at 31 March 2019
Approved and authorised by the
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Director
Page 4 |
David Philp Holdings Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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. There were no material departures from that standard.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentation currency of the financial statements is the Pound Sterling (£).
Investments
Current asset investments are included at the lower of cost and net realisable value.
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David Philp Holdings Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Financial instruments
Staff numbers |
The average number of persons employed by the company (including the directors) during the year was 2 (2018 - 2).
Current asset investments |
2019 |
2018 |
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Shares in group undertakings |
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Creditors |
Creditors: amounts falling due within one year
Note |
2019 |
2018 |
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Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Other creditors |
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David Philp Holdings Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Related party transactions |
(Subsidiary company)
The company operates a loan account with the above company. During the year, David Philp Commercials Limited advanced loans totalling £13,704 to the company. At the year end, the balance due to David Philp Commercials Limited was £1,834,192 (2018 - £1,820,489). This loan is unsecured, interest free and has no repayment terms.
H Anderson
(Director)
The company operates a loan account with the above director. During the year, the company repaid £3,293 to the director. At the year end, the balance due to H Anderson was £1,707 (2018 - £5,000). This loan is unsecured, interest free and has no repayment terms.
D Philp Jnr
(Director)
The company operates a loan account with the above director. During the year, the company repaid £3,000 to the director. At the year end, the balance due to D Philp Jnr was £2,000 (2018 - £5,000). This loan is unsecured, interest free and has no repayment terms.
L Bertram
(Shareholder)
The company operates a loan account with the above shareholder. During the year, the company repaid £4,410 to the shareholder. At the year end, the balance due to L Bertram was £590 (2018 - £5,000). This loan is unsecured, interest free and has no repayment terms.
G Philp
(Shareholder)
The company operates a loan account with the above shareholder. During the year, the company repaid £3,000 to the shareholder. At the year end, the balance due to G Philp was £2,000 (2018 - £5,000). This loan is unsecured, interest free and has no repayment terms.
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