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PRINGLE PROPERTY LTD

Registered Number
SC672200
(Scotland)

Unaudited Financial Statements for the Year ended
31 August 2022

PRINGLE PROPERTY LTD
Company Information
for the year from 1 September 2021 to 31 August 2022

Director

HARGREAVES, Nicola

Registered Address

Gr 19 Union Street
Largs
KA30 8DG

Registered Number

SC672200 (Scotland)
PRINGLE PROPERTY LTD
Balance Sheet as at
31 August 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Investment property3-33,000
-33,000
Current assets
Debtors11,415-
11,415-
Creditors amounts falling due within one year4(4,737)(8,172)
Net current assets (liabilities)6,678(8,172)
Total assets less current liabilities6,67824,828
Creditors amounts falling due after one year5(3,439)(39,097)
Net assets3,239(14,269)
Capital and reserves
Called up share capital33
Profit and loss account3,236(14,272)
Shareholders' funds3,239(14,269)
The financial statements were approved and authorised for issue by the Director on 28 March 2024, and are signed on its behalf by:
HARGREAVES, Nicola
Director
Registered Company No. SC672200
PRINGLE PROPERTY LTD
Notes to the Financial Statements
for the year ended 31 August 2022

1.Accounting policies
Statutory information
Pringle Property Limited is a private company limited by shares incorporated in Scotland . The registered office is G/R, 19 Union Street, Largs, Ayrshire, KA30 8DG.
Statement of compliance
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £. 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 financial instruments at fair value. The principal accounting policies adopted are set out below.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure . Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
2.Average number of employees

20222021
Average number of employees during the year11
3.Investment property

£
Fair value at 01 September 2133,000
Disposals(33,000)
At 31 August 22-
4.Creditors: amounts due within one year

2022

2021

££
Trade creditors / trade payables1,578-
Taxation and social security759-
Other creditors-6,372
Accrued liabilities and deferred income2,4001,800
Total4,7378,172
5.Creditors: amounts due after one year

2022

2021

££
Bank borrowings and overdrafts-38,000
Other creditors3,4391,097
Total3,43939,097
6.Related party transactions
The company is owed a total balance of £11,415 from Sourced Ayrshire Ltd at the balance sheet date. This company has a common director, N J Hargreaves. This amount is included within other debtors. Included within other creditors more than one year is a loan made to the company by N J Hargreaves of £3,439. The loan was made on an interest-free basis. The repayment terms have not yet been set.