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REGISTERED NUMBER: SC281460 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

NERSTON PROPERTIES LTD.

NERSTON PROPERTIES LTD. (REGISTERED NUMBER: SC281460)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NERSTON PROPERTIES LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: A R Kennedy
Mrs A Kennedy
L G Woodhouse





REGISTERED OFFICE: 16 Westgarth Place
College Milton
East Kilbride
Glasgow
G74 5NT





REGISTERED NUMBER: SC281460 (Scotland)






NERSTON PROPERTIES LTD. (REGISTERED NUMBER: SC281460)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 450,000 450,000

CURRENT ASSETS
Cash at bank 61,254 39,258
NET CURRENT ASSETS 61,254 39,258
TOTAL ASSETS LESS CURRENT
LIABILITIES

511,254

489,258

CREDITORS
Amounts falling due after more than one
year

5

451,750

451,750
NET ASSETS 59,504 37,508

CAPITAL AND RESERVES
Called up share capital 6 100 100
Capital redemption reserve 50 50
Other reserves 14,470 14,470
Retained earnings 44,884 22,888
SHAREHOLDERS' FUNDS 59,504 37,508

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 1 March 2024 and were signed on its behalf by:




A R Kennedy - Director


NERSTON PROPERTIES LTD. (REGISTERED NUMBER: SC281460)

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

1. STATUTORY INFORMATION

Nerston Properties 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.

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 3 (2022 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 450,000
NET BOOK VALUE
At 31 October 2023 450,000
At 31 October 2022 450,000

NERSTON PROPERTIES LTD. (REGISTERED NUMBER: SC281460)

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

4. INVESTMENT PROPERTY - continued

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2016 14,470
Cost 435,530
450,000

The investment properties are held in trust for the company by the directors.

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 341,642
Other creditors 451,750 110,108
451,750 451,750

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100