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REGISTERED NUMBER: SC288561 (Scotland)















Financial Statements for the Year Ended 31 March 2023

for

Assurance Homes Limited

Assurance Homes Limited (Registered number: SC288561)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Assurance Homes Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Andrew Mark Buchan





REGISTERED OFFICE: 1 Belvidere Street
Aberdeen
AB25 2QS





REGISTERED NUMBER: SC288561 (Scotland)





ACCOUNTANTS: Tawse & Partners
Chartered Accountants
18 North Silver Street
Aberdeen
AB10 1JU

Assurance Homes Limited (Registered number: SC288561)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 169 199
Investment property 6 1,200,000 1,200,000
1,200,169 1,200,199

CURRENT ASSETS
Debtors 7 89,420 101,676
Cash at bank 1,869 1,355
91,289 103,031
CREDITORS
Amounts falling due within one year 8 68,455 78,722
NET CURRENT ASSETS 22,834 24,309
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,223,003

1,224,508

CREDITORS
Amounts falling due after more than one
year

9

(758,264

)

(768,196

)

PROVISIONS FOR LIABILITIES (211 ) (217 )
NET ASSETS 464,528 456,095

CAPITAL AND RESERVES
Called up share capital 10 10 10
Fair value reserve 253,027 253,027
Retained earnings 211,491 203,058
SHAREHOLDERS' FUNDS 464,528 456,095

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Assurance Homes Limited (Registered number: SC288561)

Balance Sheet - continued
31 March 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 director and authorised for issue on 12 October 2023 and were signed by:





Andrew Mark Buchan - Director


Assurance Homes Limited (Registered number: SC288561)

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

1. STATUTORY INFORMATION

Assurance Homes 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 financial statements are presented in sterling which is the functional currency if the company and rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and also have been consistently applied within the same accounts.

Turnover and other income recognition
Turnover is measured at fair value of the consideration received or receivable net of VAT and discounts. The policies adopted for the recognition of turnover are as follows:

Rental Property
Rental income is recognised based on monthly rental periods, in accordance with property rental agreements.

Consultancy Income
When the outcome of a transaction can be estimated reliably, turnover from consultancy services is recognised by reference to the stage of completion at the Statement of Financial Position date. Stage of completion is measured by reference to contractual rates of labour hours for services rendered and direct expenses incurred. When the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Tangible fixed assets are stated at deemed cost less accumulated depreciation and accumulated impairment.

Investment property
Investment property for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in the fair value recognised in the Income Statement. Deferred tax is provided on any gains at the rate expected to apply when the property is sold.

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.


Assurance Homes Limited (Registered number: SC288561)

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

3. ACCOUNTING POLICIES - continued
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.

Debtors and creditors receivable with one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 498
DEPRECIATION
At 1 April 2022 299
Charge for year 30
At 31 March 2023 329
NET BOOK VALUE
At 31 March 2023 169
At 31 March 2022 199

Assurance Homes Limited (Registered number: SC288561)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,200,000
NET BOOK VALUE
At 31 March 2023 1,200,000
At 31 March 2022 1,200,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2008 21,640
Valuation in 2010 16,210
Valuation in 2013 10,000
Valuation in 2016 (30,000 )
Valuation in 2019 31,207
Valuation in 2020 (5,030 )
Valuation in 2022 209,000
Cost 946,973
1,200,000

Investment properties were valued on an open market basis on 31 March 2023 by Andrew Buchan .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 89,420 101,676

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 9,932 9,687
Trade creditors 264 1,164
Taxation and social security 2,476 5,046
Other creditors 55,783 62,825
68,455 78,722

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 23,274 33,206
Other creditors 734,990 734,990
758,264 768,196

Assurance Homes Limited (Registered number: SC288561)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.3.23 31.3.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Mortgage 734,990 734,990

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
10 Ordinary shares £1 10 10

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Andrew Mark Buchan
Balance outstanding at start of year 12,256 (114,386 )
Amounts advanced 7,235 147,062
Amounts repaid (21,756 ) (20,420 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,265 ) 12,256

Loan is interest free and is repayable on demand.