AMD PROPERTY (ABERDEEN) LIMITED

Company Registration Number:
SC420264 (Scotland)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

AMD PROPERTY (ABERDEEN) LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

AMD PROPERTY (ABERDEEN) LIMITED

Balance sheet

As at 31 March 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 1,431,505 1,432,902
Total fixed assets: 1,431,505 1,432,902
Current assets
Debtors: 4 278,957 148,408
Cash at bank and in hand: 257,748 480,214
Total current assets: 536,705 628,622
Creditors: amounts falling due within one year:   (199,349) (74,378)
Net current assets (liabilities): 337,356 554,244
Total assets less current liabilities: 1,768,861 1,987,146
Creditors: amounts falling due after more than one year: 5 (1,401,000) (1,750,000)
Total net assets (liabilities): 367,861 237,146
Capital and reserves
Called up share capital: 100 100
Revaluation reserve:6(50,483)(50,483)
Profit and loss account: 418,244 287,529
Shareholders funds: 367,861 237,146

The notes form part of these financial statements

AMD PROPERTY (ABERDEEN) LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 22 October 2023
and signed on behalf of the board by:

Name: Alison Easton
Status: Director

The notes form part of these financial statements

AMD PROPERTY (ABERDEEN) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided on all property, plant and equipment at rates calculated to write off the cost less estimated residual value of each asset over its estimated useful life as follows:Land: Not depreciatedBuildings: 50 yearsFurniture & Equipment: 5 years IT equipment: 3 yearsThe carrying values of property, plant and equipment are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Valuation and information policy

Investment property is property held to earn rentals and/or for capital appreciation. Properties are initially recognized at cost, which includes the purchase cost and any transaction costs. At the end of each subsequent reporting period, they are measured at fair value. Any gains or losses arising from changes in fair value are included in the profit or loss for the period in which they arise. Deferred tax is provided on gains or losses at the rate expected to apply to the sale of the property.

Other accounting policies

Financial InstrumentsThe Company has elected to apply the provisions of Sections 11 (Basic Financial Instruments) and 12 (Other Financial Instruments Issues). At present, the Company has only entered into transactions which fall within the scope of basic financial instruments. Basic financial instruments such as cash, debtors and creditors, which are classed as receivable or payable with one year, are measured initially and subsequently at the undiscounted amount of the cash expected to be paid or received, unless the arrangement constitutes a financing transaction. Basic financial instruments such as interest bearing loans are initially measured at transaction price and subsequently at amortised cost using the effective interest method. Basic financial liabilities which constitute financing transactions, such as interest free loans, are measured initially and subsequently at the present value of the future payments discounted at a market rate of interest. In the specific case of a basic financial liability that is a loan from a Director who is a Shareholder, or a close family member of such, the Company has applied the exception provided under Sections 11.13A (a) and 11.14 (a) (i), whereby such loans may be recorded at the transaction price.

AMD PROPERTY (ABERDEEN) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

2023 2022
Average number of employees during the period 0 0

AMD PROPERTY (ABERDEEN) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible Assets

Total
Cost £
At 01 April 2022 1,459,432
Additions 342
At 31 March 2023 1,459,774
Depreciation
At 01 April 2022 26,530
Charge for year 1,739
At 31 March 2023 28,269
Net book value
At 31 March 2023 1,431,505
At 31 March 2022 1,432,902

Investment properties were valued at £930,000 by Directors as at 31 March 2023. This represented no change from the valuation at 31 March 2022.The historic cost of investment property amounts to £995,350 (2022: £995,350) and the aggregate depreciation thereon would have been £124,389 (2022: £109,404). A basic financial asset is valued at £500,000 (2022: £500,000).

AMD PROPERTY (ABERDEEN) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Debtors

2023 2022
££
Debtors due after more than one year: 115,417 114,867

AMD PROPERTY (ABERDEEN) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Creditors: amounts falling due after more than one year note

Creditors due after one year includes £906,500 repayable after 5 years (2022: £1,190,000).

AMD PROPERTY (ABERDEEN) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Revaluation reserve

2023
£
Balance at 01 April 2022 (50,483)
Surplus or deficit after revaluation 0
Balance at 31 March 2023 (50,483)

AMD PROPERTY (ABERDEEN) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

7. Related party transactions

Name of the related party: Shareholders
Relationship:
Shareholders who are Directors
Description of the Transaction: Loans provided to the Company which are not at market rates
£
Balance at 01 April 2022 1,440,000
Balance at 31 March 2023 1,411,500