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REGISTERED NUMBER: SC293482 (Scotland)












Financial Statements

for the Year Ended 31 March 2023

for

Easylet Properties (Scotland) Ltd.

Easylet Properties (Scotland) Ltd. (Registered number: SC293482)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Easylet Properties (Scotland) Ltd.

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S M Graham
C Graham





REGISTERED OFFICE: Radleigh House
I Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC293482 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Easylet Properties (Scotland) Ltd. (Registered number: SC293482)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,869 2,199
Investment property 5 58,541 58,541
60,410 60,740

CURRENT ASSETS
Debtors 6 274,602 250,184
Cash at bank 3,175 71,621
277,777 321,805
CREDITORS
Amounts falling due within one year 7 51,087 124,065
NET CURRENT ASSETS 226,690 197,740
TOTAL ASSETS LESS CURRENT
LIABILITIES

287,100

258,480

CREDITORS
Amounts falling due after more than one
year

8

14,594

4,349
NET ASSETS 272,506 254,131

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 272,406 254,031
SHAREHOLDERS' FUNDS 272,506 254,131

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

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

Easylet Properties (Scotland) Ltd. (Registered number: SC293482)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 25 November 2023 and were signed on its behalf by:





S M Graham - Director


Easylet Properties (Scotland) Ltd. (Registered number: SC293482)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Easylet Properties (Scotland) 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

Going concern
The directors continue to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Easylet Properties (Scotland) Ltd. (Registered number: SC293482)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 4 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 22,973 6,184 29,157
DEPRECIATION
At 1 April 2022 20,774 6,184 26,958
Charge for year 330 - 330
At 31 March 2023 21,104 6,184 27,288
NET BOOK VALUE
At 31 March 2023 1,869 - 1,869
At 31 March 2022 2,199 - 2,199

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 58,541
NET BOOK VALUE
At 31 March 2023 58,541
At 31 March 2022 58,541

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 244,982 226,004
Other debtors 29,620 24,180
274,602 250,184

Easylet Properties (Scotland) Ltd. (Registered number: SC293482)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 6,703 4,500
Trade creditors 1,018 2,193
Taxation and social security 4,877 2,974
Other creditors 38,489 114,398
51,087 124,065

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£    £   
Bank loans 14,594 4,349