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REGISTERED NUMBER: SC278488 (Scotland)
















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Waverley Portfolio Limited

Waverley Portfolio Limited (Registered number: SC278488)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Waverley Portfolio Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: O A Mahon
Mrs S Sneddon





SECRETARY: Mrs S Sneddon





REGISTERED OFFICE: c/o Anthony Mahon & Co
48 West George Street
Glasgow
G2 1BP





REGISTERED NUMBER: SC278488 (Scotland)





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

Waverley Portfolio Limited (Registered number: SC278488)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,027,812 3,027,812
Investments 5 1,041 1,041
3,028,853 3,028,853

CURRENT ASSETS
Debtors 6 80,740 47,633
Cash at bank 992 21,406
81,732 69,039
CREDITORS
Amounts falling due within one year 7 (702,861 ) (678,464 )
NET CURRENT LIABILITIES (621,129 ) (609,425 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,407,724

2,419,428

CREDITORS
Amounts falling due after more than one
year

8

(1,243,740

)

(1,355,699

)

PROVISIONS FOR LIABILITIES (98,871 ) (70,523 )
NET ASSETS 1,065,113 993,206

CAPITAL AND RESERVES
Called up share capital 80,000 80,000
Fair value reserve 514,034 542,382
Retained earnings 471,079 370,824
SHAREHOLDERS' FUNDS 1,065,113 993,206

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Waverley Portfolio Limited (Registered number: SC278488)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 9 February 2024 and were signed on its behalf by:





O A Mahon - Director


Waverley Portfolio Limited (Registered number: SC278488)

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

1. STATUTORY INFORMATION

Waverley Portfolio 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the amounts invoiced, excluding value added tax, in respect of the rent payable to the company.

Financial instruments
Debtors
Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents
Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet bank overdrafts are shown in creditors amounts falling due within one year.

Creditors
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

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 balance sheet date.

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.

Investments
Investments are shown as fair value. When fair value can not be deemed reliably, investments are shown as transactional price. Any movements in the fair value are recognised through the profit and loss account.

Waverley Portfolio Limited (Registered number: SC278488)

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

2. ACCOUNTING POLICIES - continued

Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertakings comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 248 of the Companies Act 1985 not to prepare group accounts.

Investment properties
Investment properties are shown at fair value, with any fair value movement in the year being recognised through the profit and loss account.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
Investment machinery
properties etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2022
and 31 March 2023 3,027,812 969 3,028,781
DEPRECIATION
At 1 April 2022
and 31 March 2023 - 969 969
NET BOOK VALUE
At 31 March 2023 3,027,812 - 3,027,812
At 31 March 2022 3,027,812 - 3,027,812

The investment properties were valued at fair value by Cushman & Wakefield at 31 March 2019. The directors belive this value still to be appropriate at 31 March 2023.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022
and 31 March 2023 1,041
NET BOOK VALUE
At 31 March 2023 1,041
At 31 March 2022 1,041

The fair value of the investments could not be reliably determined, and therefore are shown as transactional cost at 31 March 2023.

Waverley Portfolio Limited (Registered number: SC278488)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Amounts owed by group undertakings 18,807 18,807
Other debtors 61,933 28,826
80,740 47,633

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 100,945 93,800
Amounts owed to group undertakings 828 828
Taxation and social security 43,552 43,213
Other creditors 557,536 540,623
702,861 678,464

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 1,219,747 1,322,366
Other creditors 23,993 33,333
1,243,740 1,355,699

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 816,024 947,167

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 1,320,678 1,416,166

Bank loans are secured by a standard security over the investment properties.