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REGISTERED NUMBER: SC504404 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Legacy Property Developments (Thee)
Limited

Legacy Property Developments (Thee)
Limited (Registered number: SC504404)






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


Legacy Property Developments (Thee)
Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: A S Mckie





REGISTERED OFFICE: Unit 3, KPP Chartered Accountants
Morris Park, 37 Rosyth Road
Glasgow
G5 0YD





REGISTERED NUMBER: SC504404 (Scotland)





ACCOUNTANTS: Key Professional Partnership Ltd
Unit 3 Morris Park
Rosyth Road
Glasgow
G5 0YE

Legacy Property Developments (Thee)
Limited (Registered number: SC504404)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 200,000 300,000
Investment property 5 800,000 800,000
1,000,000 1,100,000

CURRENT ASSETS
Debtors 6 15,094 53,939
Cash at bank 39 37,091
15,133 91,030
CREDITORS
Amounts falling due within one year 7 106,968 336,542
NET CURRENT LIABILITIES (91,835 ) (245,512 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

908,165

854,488

CREDITORS
Amounts falling due after more than one
year

8

424,848

443,260
NET ASSETS 483,317 411,228

CAPITAL AND RESERVES
Called up share capital 967 967
Retained earnings 482,350 410,261
483,317 411,228

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 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.

Legacy Property Developments (Thee)
Limited (Registered number: SC504404)

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 director and authorised for issue on 12 January 2024 and were signed by:





A S Mckie - Director


Legacy Property Developments (Thee)
Limited (Registered number: SC504404)

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

1. STATUTORY INFORMATION

Legacy Property Developments (Thee) Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 NIL (2022 - NIL).

Legacy Property Developments (Thee)
Limited (Registered number: SC504404)

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2022 300,000
Disposals (100,000 )
At 31 March 2023 200,000
NET BOOK VALUE
At 31 March 2023 200,000
At 31 March 2022 300,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 800,000
NET BOOK VALUE
At 31 March 2023 800,000
At 31 March 2022 800,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 14,072 11,240
Amounts owed by associates - 41,784
Other debtors 1,022 915
15,094 53,939

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 1,076 6,218
Trade creditors 1,031 443
Amounts owed to associates - 224,419
Other creditors 104,861 105,462
106,968 336,542

Legacy Property Developments (Thee)
Limited (Registered number: SC504404)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 39,217 39,217
Other creditors 385,631 404,043
424,848 443,260