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REGISTERED NUMBER: SC078503 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SHANTER SECURITIES LIMITED

SHANTER SECURITIES LIMITED (REGISTERED NUMBER: SC078503)

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


SHANTER SECURITIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: J G Martin
S J Martin



SECRETARY: Mrs J A Martin



REGISTERED OFFICE: 20 Barns Street
Ayr
Ayrshire
KA7 1XA



REGISTERED NUMBER: SC078503 (Scotland)



ACCOUNTANTS: Galbraith Pritchards
Chartered Accountants
20 Barns Street
Ayr
Ayrshire
KA7 1XA



BANKERS: Hampden & Co
9 Charlotte Square
Edinburgh
EH2 4DR



SOLICITORS: Burness Paul
50 Lothian Road
Festival Square
Edinburgh
EH3 9WJ

SHANTER SECURITIES LIMITED (REGISTERED NUMBER: SC078503)

BALANCE SHEET
31 MARCH 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 222 296
Investment property 5 2,900,000 3,260,000
2,900,222 3,260,296

CURRENT ASSETS
Debtors 6 89,003 91,584
Investments 7 749,708 810,315
Cash at bank 115,392 237,679
954,103 1,139,578
CREDITORS
Amounts falling due within one year 8 72,854 189,753
NET CURRENT ASSETS 881,249 949,825
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,781,471

4,210,121

CREDITORS
Amounts falling due after more than one
year

9

1,782,464

1,782,146
NET ASSETS 1,999,007 2,427,975

CAPITAL AND RESERVES
Called up share capital 120,000 120,000
Share premium 280,000 280,000
Retained earnings 1,599,007 2,027,975
SHAREHOLDERS' FUNDS 1,999,007 2,427,975

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.

SHANTER SECURITIES LIMITED (REGISTERED NUMBER: SC078503)

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 22 February 2024 and were signed on its behalf by:





J G Martin - Director


SHANTER SECURITIES LIMITED (REGISTERED NUMBER: SC078503)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Shanter Securities 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 as modified by the revaluation of certain assets.

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.
Improvements to property - 25% on reducing balance
Equipment - 25% on reducing balance

INVESTMENT PROPERTY
Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with any change recognised in the profit and loss account.

FINANCIAL INSTRUMENTS
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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 2 (2022 - 2 ) .

SHANTER SECURITIES LIMITED (REGISTERED NUMBER: SC078503)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Improvements
to
property Equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 8,959 20,601 29,560
DEPRECIATION
At 1 April 2022 8,959 20,305 29,264
Charge for year - 74 74
At 31 March 2023 8,959 20,379 29,338
NET BOOK VALUE
At 31 March 2023 - 222 222
At 31 March 2022 - 296 296

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 3,273,445
Additions 1,750
Revaluations (361,750 )
At 31 March 2023 2,913,445
DEPRECIATION
At 1 April 2022
and 31 March 2023 13,445
NET BOOK VALUE
At 31 March 2023 2,900,000
At 31 March 2022 3,260,000

Investment properties were revalued to fair value on 31 March 2023 by the directors on an open market basis.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 28,491 40,529
Other debtors 60,512 51,055
89,003 91,584

SHANTER SECURITIES LIMITED (REGISTERED NUMBER: SC078503)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CURRENT ASSET INVESTMENTS
31/3/23 31/3/22
£    £   
Collective Investment Account 724,708 785,315
Unlisted investments 25,000 25,000
749,708 810,315


Listed
investments
£
MARKET VALUE
At 1 April 2022 785,315
Additions 50,150
Disposals (366,828 )
Dividends and interest 9,987
Charges (3,475 )
Uplift in investment 249,559

At 31 March 2023 724,708
NET BOOK VALUE

At 31 March 2023 724,708

At 31 March 2022 785,315



8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 10,000 10,000
Taxation and social security 47,446 39,941
Other creditors 15,408 139,812
72,854 189,753

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£    £   
Bank loans 822,500 832,500
Other creditors 959,964 949,646
1,782,464 1,782,146

SHANTER SECURITIES LIMITED (REGISTERED NUMBER: SC078503)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

31/3/23 31/3/22
£    £   
Bank loans 832,500 842,500

Bank loans are secured by a standard security over the assets.