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REGISTERED NUMBER: SC119651 (Scotland)




















Edinburgh City Homes (Two) Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024






Edinburgh City Homes (Two) Limited (Registered number: SC119651)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Edinburgh City Homes (Two) Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: J Crooks
J S Milne



SECRETARY: J Crooks



REGISTERED OFFICE: 12 Regent Terrace
Edinburgh
EH7 5BN



REGISTERED NUMBER: SC119651 (Scotland)



BANKERS: Bank of Scotland
300 Lawnmarket
Edinburgh
EH1 2PH

Edinburgh City Homes (Two) Limited (Registered number: SC119651)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 39,776 99,814
Investment property 6 450,000 450,000
489,776 549,814

CURRENT ASSETS
Debtors 7 - 1,350
Cash at bank 124,137 105,717
124,137 107,067
CREDITORS
Amounts falling due within one year 8 5,178 6,070
NET CURRENT ASSETS 118,959 100,997
TOTAL ASSETS LESS CURRENT
LIABILITIES

608,735

650,811

PROVISIONS FOR LIABILITIES 5,600 1,140
NET ASSETS 603,135 649,671

CAPITAL AND RESERVES
Called up share capital 83,890 83,890
Fair value reserve 9 99,060 79,916
Retained earnings 9 420,185 485,865
SHAREHOLDERS' FUNDS 603,135 649,671

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Edinburgh City Homes (Two) Limited (Registered number: SC119651)

Balance Sheet - continued
31 January 2024


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 March 2024 and were signed on its behalf by:





J Crooks - Director


Edinburgh City Homes (Two) Limited (Registered number: SC119651)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Edinburgh City Homes (Two) 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 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.
Fixtures and fittings - 15% on cost

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.

Edinburgh City Homes (Two) Limited (Registered number: SC119651)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Investments
Investments are stated at market value. Any revaluation gains are recognised in the fair value reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 February 2023
and 31 January 2024 8,904
DEPRECIATION
At 1 February 2023
and 31 January 2024 8,904
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. FIXED ASSET INVESTMENTS
Other
investment
£   
COST OR VALUATION
At 1 February 2023 99,814
Disposals (25,422 )
Revaluations (34,616 )
At 31 January 2024 39,776
NET BOOK VALUE
At 31 January 2024 39,776
At 31 January 2023 99,814

The cost and market value of the investments listed on the London Stock Exchange as at 31 January 2024 were £119,490 (2023: £208,649) and £39,776 (2023: £99,814) respectively.

Edinburgh City Homes (Two) Limited (Registered number: SC119651)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 450,000
NET BOOK VALUE
At 31 January 2024 450,000
At 31 January 2023 450,000

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

2024 2023
£    £   
Cost 260,109 260,109

Investment properties were valued on an open basis on 31 January 2024 by the director.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 1,350

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 4,178 5,070
Other creditors 1,000 1,000
5,178 6,070

Edinburgh City Homes (Two) Limited (Registered number: SC119651)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 February 2023 485,865 79,916 565,781
Deficit for the year (46,536 ) (46,536 )
Transfer (53,760 ) 53,760 -
Revaluation in year 34,616 (34,616 ) -
At 31 January 2024 420,185 99,060 519,245

The fair value reserve represents the net revaluation surplus on investments and investment properties that is not readily distributable as realised earnings.