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REGISTERED NUMBER: SC710025 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

HUDSON REID PROPERTY LTD

HUDSON REID PROPERTY LTD (REGISTERED NUMBER: SC710025)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HUDSON REID PROPERTY LTD

COMPANY INFORMATION
for the year ended 30 September 2023







DIRECTOR: J Reid





REGISTERED OFFICE: Q Court
3 Quality Street
Edinburgh
EH4 5BP





REGISTERED NUMBER: SC710025 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

HUDSON REID PROPERTY LTD (REGISTERED NUMBER: SC710025)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 707,520 380,000

CURRENT ASSETS
Debtors 5 7,881 -
Cash at bank and in hand 99,611 8,504
107,492 8,504
CREDITORS
Amounts falling due within one year 6 143,370 4,354
NET CURRENT (LIABILITIES)/ASSETS (35,878 ) 4,150
TOTAL ASSETS LESS CURRENT
LIABILITIES

671,642

384,150

CREDITORS
Amounts falling due after more than one
year

7

289,681

-
NET ASSETS 381,961 384,150

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 380,000 380,000
Retained earnings 1,861 4,050
SHAREHOLDERS' FUNDS 381,961 384,150

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HUDSON REID PROPERTY LTD (REGISTERED NUMBER: SC710025)

BALANCE SHEET - continued
30 September 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 director and authorised for issue on 18 March 2024 and were signed by:





J Reid - Director


HUDSON REID PROPERTY LTD (REGISTERED NUMBER: SC710025)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2023

1. STATUTORY INFORMATION

Hudson Reid Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

At the period end the company had net current liabilities of £35,878 (2022 - net current assets of £4,150). The company continues to be supported by the director who provide funding for operations. The operational funding support is expected to continue for a period of at least one year after the date of signing the financial statements.

TURNOVER
Turnover is measured at the fair value of the rental income received or receivable.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 380,000
Additions 327,520
At 30 September 2023 707,520
NET BOOK VALUE
At 30 September 2023 707,520
At 30 September 2022 380,000

HUDSON REID PROPERTY LTD (REGISTERED NUMBER: SC710025)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023

4. INVESTMENT PROPERTY - continued

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2022 380,000
Cost 327,520
707,520

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

2023 2022
£    £   
Cost 327,520 -

Investment property was valued on an open market basis on 30 September 2023 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 7,881 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 153 1,099
Other creditors 143,217 3,255
143,370 4,354

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 289,681 -

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 289,681 -

HUDSON REID PROPERTY LTD (REGISTERED NUMBER: SC710025)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 289,681 -

Shawbrook Bank Limited hold a standard security charge which covers all of the assets owned by the
company.

9. RELATED PARTY DISCLOSURES

Included in "Other creditors" is an amount of £141,472 (2022 - £1,000) due to the director from the company. The loan is interest free and repayable on demand.