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REGISTERED NUMBER: SC144729















WALTON PROPERTIES (SCOTLAND) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023






WALTON PROPERTIES (SCOTLAND) LIMITED (REGISTERED NUMBER: SC144729)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


WALTON PROPERTIES (SCOTLAND) LIMITED (REGISTERED NUMBER: SC144729)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 - 2,002
Investment property 5 - 100,000
- 102,002

CURRENT ASSETS
Debtors 6 - 2,398
Cash at bank 85,464 3,003
85,464 5,401
CREDITORS
Amounts falling due within one year 7 2,741 11,162
NET CURRENT ASSETS/(LIABILITIES) 82,723 (5,761 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,723

96,241

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Fair value reserve - 38,417
Retained earnings 72,723 47,824
SHAREHOLDERS' FUNDS 82,723 96,241

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

WALTON PROPERTIES (SCOTLAND) LIMITED (REGISTERED NUMBER: SC144729)

BALANCE SHEET - continued
30 JUNE 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2024 and were signed on its behalf by:





J R Walton - Director


WALTON PROPERTIES (SCOTLAND) LIMITED (REGISTERED NUMBER: SC144729)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Walton Properties (Scotland) Limited is a private company, limited by shares, registered in Scotland. The company's registered office address is Caledonia House, 89 Seaward Street, Glasgow, G41 1HJ.

The presentation currency of the financial statements is Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. There were no material departures from this standard.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements.

The directors consider there are no such significant judgements.

Turnover
Turnover represents the rental income received from the letting of property and fees issued for services provided.

The company's policy is to recognise rental income on a straight line basis over the term of the lease agreements and fee income when substantively all the risks and rewards in connection with the services provided have been passed to the buyer.

Investment property
The company's investment property is held for long term investment and accounted for as follows:-

(i) Investment property is initially recorded at cost which includes purchase cost and any directly attributable expenditure.

(ii) Thereafter, investment property is revalued at each balance sheet date to it's fair value, where this can be measured reliably.

(iii) The surplus or deficit arising on revaluation in the financial year is recognised in the profit and loss account for that year. Revaluation gains and losses are accumulated in the profit and loss account reserve, unless the revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a non-distributable reserve in the balance sheet.

(iv) Deferred taxation is provided on any gains at the rate expected to apply when a property is sold.

WALTON PROPERTIES (SCOTLAND) LIMITED (REGISTERED NUMBER: SC144729)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and investments in non-puttable ordinary shares.

Debt instruments like other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Investments in non-convertible preference shares and in non-puttable ordinary and preference shares are measured at fair value with changes recognised in profit and loss if the shares are publicly traded or their fair value can be measured reliably or at cost less impairment for all other investments.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

WALTON PROPERTIES (SCOTLAND) LIMITED (REGISTERED NUMBER: SC144729)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Fixed asset investments
Equity investments are recognised initially at fair value which is normally the transaction price excluding any transaction costs. Subsequently, they are measured at fair value through profit and loss. Revaluation gains or losses arising on revaluation are accumulated in the profit and loss account reserve, unless the revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a non-distributable fair value reserve in the balance sheet. If subsequently, the original cost exceeds the fair value of the investments, then a transfer is made back from the fair value reserve to the profit and loss account reserves.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2022 15,999
Disposals (2,002 )
At 30 June 2023 13,997
PROVISIONS
At 1 July 2022
and 30 June 2023 13,997
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 2,002

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 100,000
Disposals (100,000 )
At 30 June 2023 -
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 100,000

WALTON PROPERTIES (SCOTLAND) LIMITED (REGISTERED NUMBER: SC144729)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 2,398

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 880 8,702
Other creditors 1,861 2,460
2,741 11,162