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REGISTERED NUMBER: SC479224 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Regis Property Scotland Ltd

Regis Property Scotland Ltd (Registered number: SC479224)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Regis Property Scotland Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R Longmuir
D Cairns





REGISTERED OFFICE: Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ





REGISTERED NUMBER: SC479224 (Scotland)





ACCOUNTANTS: Accountants Plus
Chartered Certified Accountants
Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ

Regis Property Scotland Ltd (Registered number: SC479224)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 141,397 88,255
Investment property 5 784,810 768,612
926,207 856,867

CURRENT ASSETS
Debtors 6 96,461 99,145
Cash at bank 7,181 6,302
103,642 105,447
CREDITORS
Amounts falling due within one year 7 288,603 70,133
NET CURRENT (LIABILITIES)/ASSETS (184,961 ) 35,314
TOTAL ASSETS LESS CURRENT
LIABILITIES

741,246

892,181

CREDITORS
Amounts falling due after more than
one year

8

(20,833

)

(202,701

)

PROVISIONS FOR LIABILITIES (75,752 ) (71,835 )
NET ASSETS 644,661 617,645

Regis Property Scotland Ltd (Registered number: SC479224)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 302,326 306,243
Retained earnings 342,235 311,302
644,661 617,645

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

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

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 31 January 2024 and were signed on its behalf by:





R Longmuir - Director


Regis Property Scotland Ltd (Registered number: SC479224)

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

1. STATUTORY INFORMATION

Regis Property 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost, 20% on reducing balance and 15% on reducing balance

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.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and bank balances
Cash and bank balances are measured at the transaction price.

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.

Regis Property Scotland Ltd (Registered number: SC479224)

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

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 120,297
Additions 87,667
At 31 December 2023 207,964
DEPRECIATION
At 1 January 2023 32,042
Charge for year 34,525
At 31 December 2023 66,567
NET BOOK VALUE
At 31 December 2023 141,397
At 31 December 2022 88,255

Regis Property Scotland Ltd (Registered number: SC479224)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 768,612
Additions 16,198
At 31 December 2023 784,810
NET BOOK VALUE
At 31 December 2023 784,810
At 31 December 2022 768,612

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2017 378,078
Cost 406,732
784,810

If investment property had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 406,732 390,534

Investment property was valued on a far value basis on 31 December 2017 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 472 690
Other debtors 95,900 95,000
VAT - 3,366
Prepayments 89 89
96,461 99,145

Regis Property Scotland Ltd (Registered number: SC479224)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 28,366
Trade creditors 3,218 2,454
Amounts owed to participating interests 189,583 -
Tax 14,304 9,737
VAT 6,271 -
Other creditors 2,600 28,600
Directors' current accounts 61,667 -
Accrued expenses 960 976
288,603 70,133

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 10,000 29,084
Bank loans - 2-5 years 10,833 91,739
Bank loans more 5 yr by instal - 81,878
20,833 202,701

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 81,878

9. RESERVES
Fair
value
reserve
£   
At 1 January 2023 306,243
Deferred tax movements (3,917 )

At 31 December 2023 302,326

Regis Property Scotland Ltd (Registered number: SC479224)

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

10. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed a balance of £95,900 (2022 - £95,000) from Cairns and Longmuir Holdings Ltd. Mr R Longmuir and Mr D Cairns are directors of both companies.

At the balance sheet date, the company owed a balance of £16000 (2022 - £6,000) to Coast 2 Country Campers Ltd. Mr R Longmuir and Mr D Carins are directors of both companies.

At the balance sheet date, the company owed a balance of £169,583.37 (2022 - £20,000) to Regis Banqueting Ltd. Mr R Longmuir is a director of both companies.

At the balance sheet date, the company owed a balance of £4,000 (2022 - nil) to Team Campervan Conversions Ltd. Mr R Longmuir and Mr D Cairns are directors of both companies.