Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseNo description of principal activity32falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC620468 2022-03-01 2023-02-28 SC620468 2021-03-01 2022-02-28 SC620468 2023-02-28 SC620468 2022-02-28 SC620468 c:CompanySecretary1 2022-03-01 2023-02-28 SC620468 c:Director1 2022-03-01 2023-02-28 SC620468 c:Director2 2022-03-01 2023-02-28 SC620468 c:Director3 2022-03-01 2023-02-28 SC620468 c:RegisteredOffice 2022-03-01 2023-02-28 SC620468 d:PlantMachinery 2022-03-01 2023-02-28 SC620468 d:PlantMachinery 2023-02-28 SC620468 d:PlantMachinery 2022-02-28 SC620468 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 SC620468 d:OfficeEquipment 2022-03-01 2023-02-28 SC620468 d:OfficeEquipment 2023-02-28 SC620468 d:OfficeEquipment 2022-02-28 SC620468 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 SC620468 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 SC620468 d:FreeholdInvestmentProperty 2023-02-28 SC620468 d:FreeholdInvestmentProperty 2022-02-28 SC620468 d:CurrentFinancialInstruments 2023-02-28 SC620468 d:CurrentFinancialInstruments 2022-02-28 SC620468 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 SC620468 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 SC620468 d:ShareCapital 2023-02-28 SC620468 d:ShareCapital 2022-02-28 SC620468 d:RetainedEarningsAccumulatedLosses 2023-02-28 SC620468 d:RetainedEarningsAccumulatedLosses 2022-02-28 SC620468 c:OrdinaryShareClass1 2022-03-01 2023-02-28 SC620468 c:OrdinaryShareClass1 2023-02-28 SC620468 c:OrdinaryShareClass1 2022-02-28 SC620468 c:FRS102 2022-03-01 2023-02-28 SC620468 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 SC620468 c:FullAccounts 2022-03-01 2023-02-28 SC620468 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC620468










SOUTAR PROPERTY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

 
SOUTAR PROPERTY LIMITED
 

COMPANY INFORMATION


Directors
Mrs F Soutar 
Mr R D Soutar 
Mr C H Soutar 




Company secretary
Mrs F Soutar



Registered number
SC620468



Registered office
Woodlands House
Woodlands

Markinch

KY7 6HE




Accountants
EQ Accountants LLP
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
SOUTAR PROPERTY LIMITED
REGISTERED NUMBER: SC620468

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
1,909
2,461

Investment property
 5 
69,432
69,432

  
71,341
71,893

Current assets
  

Debtors: amounts falling due within one year
 6 
2,957
1,045

Cash at bank and in hand
  
9,462
10,552

  
12,419
11,597

Creditors: amounts falling due within one year
 7 
(84,212)
(81,367)

Net current liabilities
  
 
 
(71,793)
 
 
(69,770)

Total assets less current liabilities
  
(452)
2,123

Provisions for liabilities
  

Deferred tax
  
-
(312)

  
 
 
-
 
 
(312)

Net (liabilities)/assets
  
(452)
1,811


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(552)
1,711

  
(452)
1,811


Page 1

 
SOUTAR PROPERTY LIMITED
REGISTERED NUMBER: SC620468

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 August 2023.




Mrs F Soutar
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
SOUTAR PROPERTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Soutar Property Limited is limited by shares and incorporated in Scotland with registration number SC620468. The address of the register office is the Woodlands House, Woodlands, Markinch, KY7 6HE.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered a period of 12 months from the date of approval of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

 
SOUTAR PROPERTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 2).

Page 4

 
SOUTAR PROPERTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2022
670
1,918
2,588



At 28 February 2023

670
1,918
2,588



Depreciation


At 1 March 2022
56
71
127


Charge for the year on owned assets
168
384
552



At 28 February 2023

224
455
679



Net book value



At 28 February 2023
446
1,463
1,909



At 28 February 2022
614
1,847
2,461


5.


Investment property


Freehold investment property

£



Valuation


At 1 March 2022
69,432



At 28 February 2023
69,432

The 2023 valuation was made by the directors, on an open market value for existing use basis.




Page 5

 
SOUTAR PROPERTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Debtors

2023
2022
£
£


Prepayments and accrued income
2,830
1,045

Deferred taxation
127
-

2,957
1,045



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
83,114
80,327

Accruals and deferred income
1,098
1,040

84,212
81,367



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



Page 6