FERNIEGAIR PROPERTY MATTERS LTD

Company Registration Number:
SC720724 (Scotland)

Unaudited abridged accounts for the year ended 31 January 2023

Period of accounts

Start date: 24 January 2022

End date: 31 January 2023

FERNIEGAIR PROPERTY MATTERS LTD

Contents of the Financial Statements

for the Period Ended 31 January 2023

Balance sheet
Notes

FERNIEGAIR PROPERTY MATTERS LTD

Balance sheet

As at 31 January 2023


Notes

2023


£
Fixed assets
Tangible assets: 3 1,685
Investments: 4 284,000
Total fixed assets: 285,685
Current assets
Cash at bank and in hand: 6,019
Total current assets: 6,019
Creditors: amounts falling due within one year:   (61,552)
Net current assets (liabilities): (55,533)
Total assets less current liabilities: 230,152
Creditors: amounts falling due after more than one year:   (202,500)
Provision for liabilities: (2,980)
Total net assets (liabilities): 24,672
Capital and reserves
Called up share capital: 1
Revaluation reserve:514,000
Profit and loss account: 10,671
Shareholders funds: 24,672

The notes form part of these financial statements

FERNIEGAIR PROPERTY MATTERS LTD

Balance sheet statements

For the year ending 31 January 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 30 September 2023
and signed on behalf of the board by:

Name: BRIAN MCGRAW
Status: Director

The notes form part of these financial statements

FERNIEGAIR PROPERTY MATTERS LTD

Notes to the Financial Statements

for the Period Ended 31 January 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

Turnover policy

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 and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer equipment - 33% on cost

Intangible fixed assets and amortisation policy

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.

Valuation and information policy

Fair value at 28 February 2023 is represented by: Valuation in 2023: £284,000If the investment property had not been revalued it would have been included at the following historical cost: £270,000Investment property was valued on an open market basis on 28 February 2023 by Zoopla estimated valuation.

Other accounting policies

SECURED DEBTSThe following secured debts are included within creditors:Bank Loans: £202,500Charge Code: SC72 0724 001The registrar of Companies for Scotland certifies that a charge dated 15th July 2022 was delivered pursuant to Chapter A1 Part 25 of the Companies Act 2006 in favour of The Mortgage Works (UK) plc, registered number 02222856

FERNIEGAIR PROPERTY MATTERS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

2. Employees

2023
Average number of employees during the period 0

FERNIEGAIR PROPERTY MATTERS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

3. Tangible Assets

Total
Cost £
Additions 2,527
At 31 January 2023 2,527
Depreciation
Charge for year 842
At 31 January 2023 842
Net book value
At 31 January 2023 1,685

FERNIEGAIR PROPERTY MATTERS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

4. Fixed investments

Investment propertyInvestment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

FERNIEGAIR PROPERTY MATTERS LTD

Notes to the Financial Statements

for the Period Ended 31 January 2023

5. Revaluation reserve

2023
£
Surplus or deficit after revaluation 14,000
Balance at 31 January 2023 14,000