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REGISTERED NUMBER: SC190768 (Scotland)
















Unaudited Financial Statements for the Year Ended 30 November 2022

for

Lucy Blair Properties Ltd

Lucy Blair Properties Ltd (Registered number: SC190768)






Contents of the Financial Statements
for the Year Ended 30 November 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lucy Blair Properties Ltd

Company Information
for the Year Ended 30 November 2022







DIRECTOR: B Congalton





REGISTERED OFFICE: 145 St Vincent Street
Glasgow
G2 5JF





REGISTERED NUMBER: SC190768 (Scotland)





ACCOUNTANTS: McLay, McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Lucy Blair Properties Ltd (Registered number: SC190768)

Balance Sheet
30 November 2022

30.11.22 30.11.21
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,017,971 1,024,896

CURRENT ASSETS
Stocks 65,882 65,882
Debtors 5 3,326 -
Cash at bank 28,191 31,506
97,399 97,388
CREDITORS
Amounts falling due within one year 6 (210,533 ) (232,218 )
NET CURRENT LIABILITIES (113,134 ) (134,830 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

904,837

890,066

CREDITORS
Amounts falling due after more than one
year

7

(12,943

)

(20,569

)

PROVISIONS FOR LIABILITIES (18,841 ) (20,058 )
NET ASSETS 873,053 849,439

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 10 292,811 292,811
Retained earnings 580,240 556,626
SHAREHOLDERS' FUNDS 873,053 849,439

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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.

Lucy Blair Properties Ltd (Registered number: SC190768)

Balance Sheet - continued
30 November 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 9 October 2023 and were signed by:





B Congalton - Director


Lucy Blair Properties Ltd (Registered number: SC190768)

Notes to the Financial Statements
for the Year Ended 30 November 2022

1. STATUTORY INFORMATION

Lucy Blair 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.

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.

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.
Land and buildings - in accordance with the property
Plant and machinery etc - 25% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

Lucy Blair Properties Ltd (Registered number: SC190768)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2021
and 30 November 2022 998,350 88,661 1,087,011
DEPRECIATION
At 1 December 2021 - 62,115 62,115
Charge for year - 6,925 6,925
At 30 November 2022 - 69,040 69,040
NET BOOK VALUE
At 30 November 2022 998,350 19,621 1,017,971
At 30 November 2021 998,350 26,546 1,024,896

The historic cost of the land and buildings is £722,381 (2021 - £722,381).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.22 30.11.21
£    £   
Other debtors 3,326 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.22 30.11.21
£    £   
Bank loans and overdrafts 7,222 41,504
Taxation and social security 18,725 11,434
Other creditors 184,586 179,280
210,533 232,218

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.22 30.11.21
£    £   
Bank loans 12,943 20,569

8. LEASING AGREEMENTS

At the year end the company had non-cancellable leasing commitments of £19,733 (2021:£0).

Lucy Blair Properties Ltd (Registered number: SC190768)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.22 30.11.21
£    £   
Bank loans 20,165 62,073

The borrowings are secured by a standard security over the company's properties.

10. RESERVES
Fair
value
reserve
£   
At 1 December 2021
and 30 November 2022 292,811