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REGISTERED NUMBER: SC247338 (Scotland)



















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

McEwan Properties Limited

McEwan Properties Limited (Registered number: SC247338)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


McEwan Properties Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: K A McEwan
Mrs D E McEwan





REGISTERED OFFICE: Claremont House
130 East Claremont Street
Edinburgh
EH7 4LB





REGISTERED NUMBER: SC247338 (Scotland)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

McEwan Properties Limited (Registered number: SC247338)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Investments 5 838,187 332,025
838,187 332,025

CURRENT ASSETS
Debtors 6 2,398,393 701,142
Cash at bank 2,782,310 4,451,583
5,180,703 5,152,725
CREDITORS
Amounts falling due within one year 7 1,341,517 876,432
NET CURRENT ASSETS 3,839,186 4,276,293
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,677,373

4,608,318

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,677,273 4,608,218
SHAREHOLDERS' FUNDS 4,677,373 4,608,318

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

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

McEwan Properties Limited (Registered number: SC247338)

Balance Sheet - continued
30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2023 and were signed on its behalf by:





K A McEwan - Director


McEwan Properties Limited (Registered number: SC247338)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

McEwan Properties 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.

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.

The functional and presentational currency of the company is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
After reviewing the company's forecasts and projections, the members have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover represents rental income received excluding value added tax and is measured at the fair value.

Other income
Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method. Income from fixed asset investments is recognised when the right to it has been established.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of two years.

McEwan Properties Limited (Registered number: SC247338)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Investments
Investments are shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate or surplus arising from changes in fair value is recognised through profit and loss.

Impairment of assets
Fixed assets are reviewed at each reporting date to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors and creditors receivable/payable in one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 NIL (2022 - NIL).

McEwan Properties Limited (Registered number: SC247338)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2022
and 30 June 2023 1,200,000
AMORTISATION
At 1 July 2022
and 30 June 2023 1,200,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30.6.23 30.6.22
£    £   
Brought forward 332,025 -
Capital introduced 506,162 332,025
838,187 332,025

Fixed assets (neither listed nor unlisted) represents the company's capital account balance in a Limited Liability Partnership.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other debtors 2,398,393 701,142

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Taxation and social security 17,802 59,029
Other creditors 1,323,715 817,403
1,341,517 876,432

8. RELATED PARTY DISCLOSURES

As at 30 June 2023 £1,321,765 (2022: £815,603) was owed to companies connected to key management personnel. The loans are interest free and repayable on demand.