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REGISTERED NUMBER: SC088227 (Scotland)













Unaudited Financial Statements

for the Year Ended 27 May 2023

for

Kingsacre Investments Limited

Kingsacre Investments Limited (Registered number: SC088227)






Contents of the Financial Statements
for the Year Ended 27 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kingsacre Investments Limited

Company Information
for the Year Ended 27 May 2023







DIRECTORS: W J King
Miss V King





SECRETARY: Miss V King





REGISTERED OFFICE: Pavilion 1
Finnieston Business Park
Minerva Way
Glasgow
G3 8AU





REGISTERED NUMBER: SC088227 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

Kingsacre Investments Limited (Registered number: SC088227)

Balance Sheet
27 May 2023

27.5.23 27.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 612 973
Investments 5 257,779 238,845
Investment property 6 2,095,137 2,095,137
2,353,528 2,334,955

CURRENT ASSETS
Debtors 7 329,452 370,747
Cash at bank 2,517,688 2,503,714
2,847,140 2,874,461
CREDITORS
Amounts falling due within one year 8 1,125,428 1,105,232
NET CURRENT ASSETS 1,721,712 1,769,229
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,075,240

4,104,184

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair Value Reserve 9 301,189 301,189
Retained earnings 3,773,051 3,801,995
SHAREHOLDERS' FUNDS 4,075,240 4,104,184

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 May 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.

Kingsacre Investments Limited (Registered number: SC088227)

Balance Sheet - continued
27 May 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 23 February 2024 and were signed on its behalf by:





W J King - Director


Kingsacre Investments Limited (Registered number: SC088227)

Notes to the Financial Statements
for the Year Ended 27 May 2023

1. STATUTORY INFORMATION

Kingsacre Investments 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.

Rental income
Gross rents received and receivable from properties are included in the profit and loss account on the basis that credit is taken when the rents fall due for payment. Provision is made for any rents due not considered recoverable.

Investment property
Investment property is shown at most recent valuation as determined by the directors. Any aggregate surplus or deficit arising from the changes in fair value is recognised in profit or loss with related reserves shown in the Fair Value Reserve.

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 - 1 ).

Kingsacre Investments Limited (Registered number: SC088227)

Notes to the Financial Statements - continued
for the Year Ended 27 May 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 28 May 2022
and 27 May 2023 36,120
DEPRECIATION
At 28 May 2022 35,147
Charge for year 361
At 27 May 2023 35,508
NET BOOK VALUE
At 27 May 2023 612
At 27 May 2022 973

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 28 May 2022 238,845
Additions 18,934
At 27 May 2023 257,779
NET BOOK VALUE
At 27 May 2023 257,779
At 27 May 2022 238,845

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 28 May 2022
and 27 May 2023 2,095,137
NET BOOK VALUE
At 27 May 2023 2,095,137
At 27 May 2022 2,095,137

Fair value at 27 May 2023 is represented by:
£   
Valuation in 2021 2,095,137

Kingsacre Investments Limited (Registered number: SC088227)

Notes to the Financial Statements - continued
for the Year Ended 27 May 2023

6. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

27.5.23 27.5.22
£    £   
Cost 1,606,918 1,606,918

Investment property was valued on an open market basis on 27 May 2023 by the Directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.5.23 27.5.22
£    £   
Trade debtors 43,067 37,650
Loans 114,391 113,431
Other debtors 35,593 65,593
Prepayments and accrued income 136,401 154,073
329,452 370,747

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.5.23 27.5.22
£    £   
Trade creditors - (2 )
Corporation tax 28,856 27,581
Social security and other taxes - 33
Other creditors 52,853 56,188
Shawfield loan 903,500 903,500
Directors' current accounts 90,000 70,000
Accruals and deferred income 50,219 47,932
1,125,428 1,105,232

9. RESERVES
Fair
Value
Reserve
£   
At 28 May 2022
and 27 May 2023 301,189

Kingsacre Investments Limited (Registered number: SC088227)

Notes to the Financial Statements - continued
for the Year Ended 27 May 2023

10. RELATED PARTY DISCLOSURES

The company has made a loan to Oakman Investments Limited of £106,891 (2022: £105,931), a company which is controlled by the same individuals as Kingsacre Investments Limited. This loan is interest free and is repayable on demand.

The company has made a loan to William King Bookmakers of £7,500 (2022: £7,500), a company which is controlled by the William James King. This loan is interest free and is repayable on demand.

The company has an outstanding loan balance due to Shawfield Greyhound Stadium Limited of £903,500 (2022: £903,500). This loan is interest free and repayable on demand. Kingsacre Investments Limited owns 45% of the shareholding in Shawfield Greyhound Stadium Limited.

The company owes a balance of £Nil (2022: £833) to Boltron Limited, a company in which William James King is a director and shareholder.