Silverfin false 31/03/2023 01/04/2022 31/03/2023 D R Gerber 21/01/2022 D Gerber 21/06/1990 J Gerber 19/10/2008 01 March 2024 The principal activity of the Company during the financial year was that of property investment. SC081654 2023-03-31 SC081654 bus:Director1 2023-03-31 SC081654 bus:Director2 2023-03-31 SC081654 bus:Director3 2023-03-31 SC081654 2022-03-31 SC081654 core:CurrentFinancialInstruments 2023-03-31 SC081654 core:CurrentFinancialInstruments 2022-03-31 SC081654 core:ShareCapital 2023-03-31 SC081654 core:ShareCapital 2022-03-31 SC081654 core:RevaluationReserve 2023-03-31 SC081654 core:RevaluationReserve 2022-03-31 SC081654 core:OtherCapitalReserve 2023-03-31 SC081654 core:OtherCapitalReserve 2022-03-31 SC081654 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC081654 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC081654 core:CostValuation 2022-03-31 SC081654 core:CostValuation 2023-03-31 SC081654 core:ProvisionsForImpairmentInvestments 2022-03-31 SC081654 core:ImpairmentLossProvisionsForImpairmentInvestments 2023-03-31 SC081654 core:ProvisionsForImpairmentInvestments 2023-03-31 SC081654 2021-03-31 SC081654 bus:OrdinaryShareClass1 2023-03-31 SC081654 2022-04-01 2023-03-31 SC081654 bus:FullAccounts 2022-04-01 2023-03-31 SC081654 bus:SmallEntities 2022-04-01 2023-03-31 SC081654 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC081654 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC081654 bus:Director1 2022-04-01 2023-03-31 SC081654 bus:Director2 2022-04-01 2023-03-31 SC081654 bus:Director3 2022-04-01 2023-03-31 SC081654 2021-04-01 2022-03-31 SC081654 1 2022-04-01 2023-03-31 SC081654 1 2021-04-01 2022-03-31 SC081654 2 2022-04-01 2023-03-31 SC081654 2 2021-04-01 2022-03-31 SC081654 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC081654 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC081654 (Scotland)

LANGTREE INVESTMENT CO LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

LANGTREE INVESTMENT CO LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

LANGTREE INVESTMENT CO LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
LANGTREE INVESTMENT CO LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 656,146 653,649
Investments 4 79,162 152,371
735,308 806,020
Current assets
Debtors 5 1,679,964 1,680,137
Cash at bank and in hand 299,066 256,840
1,979,030 1,936,977
Creditors: amounts falling due within one year 6 ( 333,008) ( 349,570)
Net current assets 1,646,022 1,587,407
Total assets less current liabilities 2,381,330 2,393,427
Provision for liabilities 7 ( 811) ( 12,995)
Net assets 2,380,519 2,380,432
Capital and reserves
Called-up share capital 8 100 100
Revaluation reserve 93,965 88,840
Other reserves ( 21,228 ) 19,477
Profit and loss account 2,307,682 2,272,015
Total shareholders' funds 2,380,519 2,380,432

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Langtree Investment Co Limited (registered number: SC081654) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

J Gerber
Director

01 March 2024

LANGTREE INVESTMENT CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
LANGTREE INVESTMENT CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Langtree Investment Co Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is George House, 36 North Hanover Street, Glasgow, G1 2AD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises revenue recognised by the company in respect of rents and management charges receivable as well as a share of the profit from syndicated properties. All revenue is recognised on an accruals basis.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

The company has two types of investment properties, wholly owned and syndicated.

Investment property is carried at fair value determined annually by external valuers or the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

Fixed asset investments

The company has two types of investment properties, wholly owned and syndicated. Investment property is carried at fair value determined annually by external valuers or the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

3. Investment property

Investment property
£
Valuation
As at 01 April 2022 653,649
Fair value movement 2,497
As at 31 March 2023 656,146

4. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 April 2022 152,371 152,371
At 31 March 2023 152,371 152,371
Provisions for impairment
At 01 April 2022 0 0
Impairment 73,209 73,209
At 31 March 2023 73,209 73,209
Carrying value at 31 March 2023 79,162 79,162
Carrying value at 31 March 2022 152,371 152,371

5. Debtors

2023 2022
£ £
Other debtors 1,679,964 1,680,137

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 39,215 50,514
Other creditors 293,793 299,056
333,008 349,570

7. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 12,995) ( 17,460)
Credited to the Profit and Loss Account 0 4,465
Amounts written back 12,184 0
0 0
At the end of financial year ( 811) ( 12,995)

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100