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REGISTERED NUMBER: SC525083 (Scotland)












Financial Statements

for the Year Ended 31 January 2023

for

Third Road Properties Ltd

Third Road Properties Ltd (Registered number: SC525083)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Third Road Properties Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTORS: J Molinari
D Molinari
C Molinari





REGISTERED OFFICE: 30 Tobago Street
Glasgow
G40 2RH





REGISTERED NUMBER: SC525083 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Third Road Properties Ltd (Registered number: SC525083)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,982 57,627
Investment property 5 4,059,589 3,998,763
4,108,571 4,056,390

CURRENT ASSETS
Debtors 6 44,138 49,161
Cash at bank 91,971 604,045
136,109 653,206
CREDITORS
Amounts falling due within one year 7 2,083,937 3,079,813
NET CURRENT LIABILITIES (1,947,828 ) (2,426,607 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,160,743

1,629,783

CREDITORS
Amounts falling due after more than one year 8 (22,364 ) (34,006 )

PROVISIONS FOR LIABILITIES (25,247 ) (19,505 )
NET ASSETS 2,113,132 1,576,272

CAPITAL AND RESERVES
Called up share capital 9 400 400
Retained earnings 2,112,732 1,575,872
SHAREHOLDERS' FUNDS 2,113,132 1,576,272

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

Third Road Properties Ltd (Registered number: SC525083)

Balance Sheet - continued
31 January 2023


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 Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:





J Molinari - Director


Third Road Properties Ltd (Registered number: SC525083)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Third Road Properties Ltd 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 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Revenue is recognised in the period in which the rental invoice relates to and is shown after the deduction of value added tax where the property is opted.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Third Road Properties Ltd (Registered number: SC525083)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

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.

Creditors
Short term 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 February 2022
and 31 January 2023 77,588 74,442 152,030
DEPRECIATION
At 1 February 2022 39,911 54,492 94,403
Charge for year 5,652 2,993 8,645
At 31 January 2023 45,563 57,485 103,048
NET BOOK VALUE
At 31 January 2023 32,025 16,957 48,982
At 31 January 2022 37,677 19,950 57,627

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 3,998,763
Additions 65,826
Disposals (5,000 )
At 31 January 2023 4,059,589
NET BOOK VALUE
At 31 January 2023 4,059,589
At 31 January 2022 3,998,763

Third Road Properties Ltd (Registered number: SC525083)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 44,138 49,161

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,969 9,328
Trade creditors 4,554 4,841
Taxation and social security 154,808 152,410
Other creditors 1,913,606 2,913,234
2,083,937 3,079,813

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,364 34,006

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
300 Ordinary £1 300 300
100 A Shares £1 100 100
400 400