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APPIN PROPERTY LETTINGS LIMITED

Registered Number
SC615120
(Scotland)

Unaudited Financial Statements for the Year ended
30 September 2023

APPIN PROPERTY LETTINGS LIMITED
Company Information
for the year from 1 October 2022 to 30 September 2023

Directors

LI, Bing
O'LOONEY, Damien Vincent

Company Secretary

O'LOONEY, Damien Vincent

Registered Address

5 South Charlotte Street
Edinburgh
EH2 4AN

Registered Number

SC615120 (Scotland)
APPIN PROPERTY LETTINGS LIMITED
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets55,081,1724,569,093
5,081,1724,569,093
Current assets
Debtors6854,721850,825
Current asset investments5050
Cash at bank and on hand225,294107,605
1,080,065958,480
Creditors amounts falling due within one year7(11,125)(28,651)
Net current assets (liabilities)1,068,940929,829
Total assets less current liabilities6,150,1125,498,922
Creditors amounts falling due after one year8-(5,487,413)
Provisions for liabilities9(120,023)(12,500)
Net assets6,030,089(991)
Capital and reserves
Called up share capital100100
Profit and loss account6,029,989(1,091)
Shareholders' funds6,030,089(991)
The financial statements were approved and authorised for issue by the Board of Directors on 2 February 2024, and are signed on its behalf by:
O'LOONEY, Damien Vincent
Director
Registered Company No. SC615120
APPIN PROPERTY LETTINGS LIMITED
Notes to the Financial Statements
for the year ended 30 September 2023

1.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.
2.Compliance with applicable reporting framework
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.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
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.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
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.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
4.Employee information

20232022
Average number of employees during the year00
5.Property, plant and equipment

Plant & machinery

Fixtures & fittings

Total

£££
Cost or valuation
At 01 October 224,519,02954,5854,573,614
Additions-9,5809,580
Revaluations513,919-513,919
At 30 September 235,032,94864,1655,097,113
Depreciation and impairment
At 01 October 2214,5204,521
Charge for year-11,42011,420
At 30 September 23115,94015,941
Net book value
At 30 September 235,032,94748,2255,081,172
At 30 September 224,519,02850,0654,569,093
6.Debtors

2023

2022

££
Trade debtors / trade receivables7,6986,187
Other debtors1,1141,193
Prepayments and accrued income5,9103,445
Other debtors (Non-current)839,999840,000
Total854,721850,825
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables10,8957,947
Taxation and social security230-
Accrued liabilities and deferred income-20,704
Total11,12528,651
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.
8.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts-5,487,413
Total-5,487,413
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)120,02312,500
Total120,02312,500