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REGISTERED NUMBER: SC262339 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Landa Properties Edinburgh Limited

Landa Properties Edinburgh Limited (Registered number: SC262339)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Landa Properties Edinburgh Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: B Singh





REGISTERED OFFICE: 174 High Street
Edinburgh
EH1 1QS





REGISTERED NUMBER: SC262339 (Scotland)





ACCOUNTANTS: Douglas Home & Co Ltd
Chartered Accountants
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Landa Properties Edinburgh Limited (Registered number: SC262339)

Statement of Financial Position
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,280,000 2,280,000

CURRENT ASSETS
Debtors 5 58,737 45,937
Cash at bank 11,088 7,278
69,825 53,215
CREDITORS
Amounts falling due within one year 6 41,907 43,406
NET CURRENT ASSETS 27,918 9,809
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,307,918

2,289,809

CREDITORS
Amounts falling due after more than one
year

7

(233,916

)

(265,293

)

PROVISIONS FOR LIABILITIES (79,000 ) (63,000 )
NET ASSETS 1,995,002 1,961,516

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 819,314 819,314
Retained earnings 1,175,588 1,142,102
SHAREHOLDERS' FUNDS 1,995,002 1,961,516

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 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.

Landa Properties Edinburgh Limited (Registered number: SC262339)

Statement of Financial Position - 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 director and authorised for issue on 12 October 2023 and were signed by:





B Singh - Director


Landa Properties Edinburgh Limited (Registered number: SC262339)

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

1. STATUTORY INFORMATION

Landa Properties Edinburgh 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents received.

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 statement of financial position date.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 2,280,000
NET BOOK VALUE
At 31 January 2023 2,280,000
At 31 January 2022 2,280,000

Landa Properties Edinburgh Limited (Registered number: SC262339)

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

4. INVESTMENT PROPERTY - continued

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2013 438,314
Valuation in 2014 (69,840 )
Valuation in 2020 499,840
Cost 1,411,686
2,280,000

If investment property had not been revalued it would have been included at the following historical cost:

31.1.23 31.1.22
£    £   
Cost 1,411,686 1,411,686

Investment property was valued on an open market basis on 6 January 2020 by Graham & Sibbald Chartered Surveyors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Amounts owed by associates 58,062 45,262
Other debtors 675 675
58,737 45,937

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 31,377 29,455
Taxation and social security 5,184 8,776
Other creditors 5,346 5,175
41,907 43,406

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 233,916 265,293

Landa Properties Edinburgh Limited (Registered number: SC262339)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank loans 265,293 294,748

The Royal Bank of Scotland plc holds a standard security over the residential and commercial properties and a bond and floating charge over the other assets of the company.