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REGISTERED NUMBER: SC217904 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

T K PROPERTIES (SCOTLAND) LTD.

T K PROPERTIES (SCOTLAND) LTD. (REGISTERED NUMBER: SC217904)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T K PROPERTIES (SCOTLAND) LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: A Goodsir
Mrs N Goodsir



REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ



REGISTERED NUMBER: SC217904 (Scotland)



ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ



BANKERS: The Royal Bank of Scotland plc
Kirkcaldy Branch
23/25 Rosslyn Street
Kirkcaldy
KY1 3HA

T K PROPERTIES (SCOTLAND) LTD. (REGISTERED NUMBER: SC217904)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,095,000 1,095,000

CURRENT ASSETS
Debtors 5 9,500 9,500
Cash at bank 5,812 7,571
15,312 17,071
CREDITORS
Amounts falling due within one year 6 178,185 137,075
NET CURRENT LIABILITIES (162,873 ) (120,004 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

932,127

974,996

CREDITORS
Amounts falling due after more than one
year

7

(645,991

)

(645,991

)

PROVISIONS FOR LIABILITIES (44,224 ) (44,224 )
NET ASSETS 241,912 284,781

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 157,757 157,757
Retained earnings 84,055 126,924
SHAREHOLDERS' FUNDS 241,912 284,781

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

T K PROPERTIES (SCOTLAND) LTD. (REGISTERED NUMBER: SC217904)

BALANCE SHEET - continued
31 MAY 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 14 February 2024 and were signed on its behalf by:





A Goodsir - Director


T K PROPERTIES (SCOTLAND) LTD. (REGISTERED NUMBER: SC217904)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

T K Properties (Scotland) 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 1,095,000
NET BOOK VALUE
At 31 May 2023 1,095,000
At 31 May 2022 1,095,000

T K PROPERTIES (SCOTLAND) LTD. (REGISTERED NUMBER: SC217904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2007 185,400
Valuation in 2012 (27,643 )
Valuation in 2017 75,000
Cost 862,243
1,095,000

The investment properties are held in trust for the company by the directors. The properties were valued on the 31 May 2017 by the directors.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 9,500 9,500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 31,820 31,820
Taxation and social security 1,086 341
Other creditors 145,279 104,914
178,185 137,075

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 645,991 645,991

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 518,710 518,710

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 677,811 677,811

Bank borrowings are secured by Standard Securities over the investment properties and personal guarantees by the directors.