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LYGATE PROPERTIES LIMITED

Registered Number
SC662534
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

LYGATE PROPERTIES LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

LYGATE, Craig David
LYGATE, David Bernard

Registered Address

9 Cauldhame Rigg
Stewarton
Kilmarnock
KA3 5QH

Registered Number

SC662534 (Scotland)
LYGATE PROPERTIES LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3158,238158,238
158,238158,238
Current assets
Cash at bank and on hand4881,545
4881,545
Creditors amounts falling due within one year4(45,573)(45,461)
Net current assets (liabilities)(45,085)(43,916)
Total assets less current liabilities113,153114,322
Creditors amounts falling due after one year5(119,960)(119,960)
Net assets(6,807)(5,638)
Capital and reserves
Called up share capital44
Profit and loss account(6,811)(5,642)
Shareholders' funds(6,807)(5,638)
The financial statements were approved and authorised for issue by the Board of Directors on 18 April 2024, and are signed on its behalf by:
LYGATE, Craig David
Director
LYGATE, David Bernard
Director

Registered Company No. SC662534
LYGATE PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 23158,238
At 31 March 24158,238
Net book value
At 31 March 24158,238
At 31 March 23158,238
4.Creditors: amounts due within one year

2024

2023

££
Other creditors45,57345,461
Total45,57345,461
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts119,960119,960
Total119,960119,960