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REGISTERED NUMBER: SC249369 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022

FOR

DUNVEGAN PROPERTIES UK LIMITED

DUNVEGAN PROPERTIES UK LIMITED (REGISTERED NUMBER: SC249369)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DUNVEGAN PROPERTIES UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2022







DIRECTOR: Sukhvinder Kaur Dhillon



REGISTERED OFFICE: 4d Auchingramont Road
Hamilton
ML3 6JT



REGISTERED NUMBER: SC249369 (Scotland)



ACCOUNTANTS: William Duncan (UK) Limited
Chartered Accountants
4d Auchingramont Road
Hamilton
ML3 6JT



BANKERS: Royal Bank of Scotland
2 Newmarket Centre
Falkirk
FK1 1JX

DUNVEGAN PROPERTIES UK LIMITED (REGISTERED NUMBER: SC249369)

STATEMENT OF FINANCIAL POSITION
31 MAY 2022

31.5.22 31.5.21
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,151,199 1,151,199

CURRENT ASSETS
Debtors 5 124,226 144,226
Cash at bank 8,809 9,844
133,035 154,070
CREDITORS
Amounts falling due within one year 6 142,638 138,496
NET CURRENT (LIABILITIES)/ASSETS (9,603 ) 15,574
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,141,596

1,166,773

CREDITORS
Amounts falling due after more than one year 7 (142,368 ) (163,457 )

PROVISIONS FOR LIABILITIES (74,609 ) (74,609 )
NET ASSETS 924,619 928,707

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 450,478 450,478
Retained earnings 474,139 478,227
SHAREHOLDERS' FUNDS 924,619 928,707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

DUNVEGAN PROPERTIES UK LIMITED (REGISTERED NUMBER: SC249369)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 22 July 2022 and were signed by:





Sukhvinder Kaur Dhillon - Director


DUNVEGAN PROPERTIES UK LIMITED (REGISTERED NUMBER: SC249369)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022


1. STATUTORY INFORMATION

Dunvegan Properties UK 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Rendering of services
Turnover from the rendering of services, namely the provision of property rental services, is recognised by reference to the stage of completion of the service at the statement of financial position date.

Investment property
Investment properties are valued at fair value at the statement of financial position date. Any changes in fair value are recognised in the income statement.

Financial instruments
Basic financial instruments are recognised as follows:

(i) Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method less any impairment.

(ii) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the statement of financial position.

(iii) Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the period 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 statement of financial position date.


DUNVEGAN PROPERTIES UK LIMITED (REGISTERED NUMBER: SC249369)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Going concern
In common with most businesses the company is facing potential issues in respect of the COVID-19 pandemic. This is an ongoing situation and the company is adopting a strategy to manage the ever changing situation as effectively as possible. The director is satisfied that these events do not affect the company's ability to continue as a going concern and this basis is appropriate for the preparation of the accounts.

3. AVERAGE NUMBER OF EMPLOYEES

The average number of employees during the year was NIL (2021 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2021
and 31 May 2022 1,151,199
NET BOOK VALUE
At 31 May 2022 1,151,199
At 31 May 2021 1,151,199

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.22 31.5.21
£    £   
Trade debtors 65,892 65,892
Other debtors 58,334 78,334
124,226 144,226

DUNVEGAN PROPERTIES UK LIMITED (REGISTERED NUMBER: SC249369)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.22 31.5.21
£    £   
Bank loan and overdraft 20,448 19,807
Corporation tax 20,587 38,930
Director's loan 59,833 78,019
Accrued charges 41,770 1,740
142,638 138,496

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.22 31.5.21
£    £   
Bank loan 142,368 163,457

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.22 31.5.21
£    £   
Bank loan 162,816 183,264

The Royal Bank of Scotland holds a bond and a floating charge over all of the company's assets dated 25 July 2003.

The Royal Bank of Scotland also holds a standard security over all of the companies investment property.

9. RELATED PARTY DISCLOSURES

During the year, the company received an interest free loan from the director amounting to £59,833 (2021 : £78,019).