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Company Registration No. SC155154 (Scotland)
Littleburn Properties Ltd Unaudited accounts for the year ended 29 February 2024
Littleburn Properties Ltd Unaudited accounts Contents
Page
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Littleburn Properties Ltd Company Information for the year ended 29 February 2024
Directors
G H Johnston T S Johnston
Secretary
T S Johnston
Company Number
SC155154 (Scotland)
Registered Office
Millbank House Millbank Road Munlochy IV8 8NL
Accountants
CMM Accountancy (Inverness) Limited The Green House Beechwood Business Park North Inverness IV2 3BL
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Littleburn Properties Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,249 
7,401 
Investment property
800,000 
800,000 
805,249 
807,401 
Current assets
Debtors
18,443 
4,998 
Cash at bank and in hand
184,459 
207,583 
202,902 
212,581 
Creditors: amounts falling due within one year
(40,080)
(61,438)
Net current assets
162,822 
151,143 
Total assets less current liabilities
968,071 
958,544 
Provisions for liabilities
Deferred tax
(997)
(1,406)
Net assets
967,074 
957,138 
Capital and reserves
Called up share capital
5,000 
5,000 
Revaluation reserve
359,466 
359,466 
Profit and loss account
602,608 
592,672 
Shareholders' funds
967,074 
957,138 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2024 and were signed on its behalf by
T S Johnston Director Company Registration No. SC155154
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Littleburn Properties Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Littleburn Properties Ltd is a private company, limited by shares, registered in Scotland, registration number SC155154. The registered office is Millbank House, Millbank Road, Munlochy, IV8 8NL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to considerations in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax. Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors. Fee income that is contingent on events outside the control of the business is recognised when the contingent event occurs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
50 years
Plant & machinery
3-8 years
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Littleburn Properties Ltd Notes to the Accounts for the year ended 29 February 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 March 2023
16,368 
Additions
855 
Disposals
(416)
At 29 February 2024
16,807 
Depreciation
At 1 March 2023
8,967 
Charge for the year
2,961 
On disposals
(370)
At 29 February 2024
11,558 
Net book value
At 29 February 2024
5,249 
At 28 February 2023
7,401 
5
Average number of employees
During the year the average number of employees was 0 (2023: 1).
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