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REGISTERED NUMBER: SC221174 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

S L Developments Limited

S L Developments Limited (Registered number: SC221174)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


S L Developments Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Mrs S A H Linton-Rennie





REGISTERED OFFICE: Bannerman House
27 South Tay Street
Dundee
DD1 1NR





REGISTERED NUMBER: SC221174 (Scotland)





ACCOUNTANTS: Winton & Co
16 Hamilton Street
Broughty Ferry
Dundee
DD5 2NR

S L Developments Limited (Registered number: SC221174)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 307,683 307,683

CURRENT ASSETS
Debtors 5 15,000 14,699
Cash at bank 70,927 40,317
85,927 55,016
CREDITORS
Amounts falling due within one year 6 50,807 44,431
NET CURRENT ASSETS 35,120 10,585
TOTAL ASSETS LESS CURRENT
LIABILITIES

342,803

318,268

PROVISIONS FOR LIABILITIES 17,188 17,188
NET ASSETS 325,615 301,080

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 325,614 301,079
SHAREHOLDERS' FUNDS 325,615 301,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 10 April 2024 and were signed by:




Mrs S A H Linton-Rennie - Director


S L Developments Limited (Registered number: SC221174)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

S L Developments 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.

Turnover
Turnover comprises rents received during the year net of value added tax.

Tangible fixed assets
Assets held as investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually or grouped on the basis of similar risk characteristics.
Any reversals or impairments are recognised in profit or loss immediately, to the extent that the reversal does not result in the carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.

S L Developments Limited (Registered number: SC221174)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Debtors
Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due.


Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short term maturity of three months or less from the date of acquisition or opening of the deposit or similar account.


Creditors

Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 August 2022
and 31 July 2023 307,683
NET BOOK VALUE
At 31 July 2023 307,683
At 31 July 2022 307,683

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 301 -
Other debtors 14,699 14,699
15,000 14,699

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 2,291 2,292
Taxation and social security 7,428 7,462
Other creditors 41,088 34,677
50,807 44,431

S L Developments Limited (Registered number: SC221174)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs S A H Linton-Rennie.