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REGISTERED NUMBER: SC531157 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Sundial House Limited

Sundial House Limited (Registered number: SC531157)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sundial House Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: P H Miller





SECRETARY: A Miller





REGISTERED OFFICE: 18 Broughton Place
Edinburgh
EH1 3RX





REGISTERED NUMBER: SC531157 (Scotland)





ACCOUNTANTS: Jeffrey Crawford & Co
Chartered Accountants
25 Castle Terrace
Edinburgh
EH1 2ER

Sundial House Limited (Registered number: SC531157)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 483,891 483,891

CURRENT ASSETS
Debtors 5 1,015 1,026
Cash at bank 21,718 20,549
22,733 21,575
CREDITORS
Amounts falling due within one year 6 21,122 20,963
NET CURRENT ASSETS 1,611 612
TOTAL ASSETS LESS CURRENT
LIABILITIES

485,502

484,503

CREDITORS
Amounts falling due after more than one
year

7

483,024

483,024
NET ASSETS 2,478 1,479

CAPITAL AND RESERVES
Called up share capital 5 5
Retained earnings 2,473 1,474
2,478 1,479

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Sundial House Limited (Registered number: SC531157)

Balance Sheet - continued
31 March 2024


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 16 April 2024 and were signed by:





P H Miller - Director


Sundial House Limited (Registered number: SC531157)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Sundial House 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.

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


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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

The directors have made key assumptions in the determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

Turnover & expenditure
Turnover relates to property rental income receivable and recoverable expenses, is recognised on an accruals basis and time apportioned. Turnover is stated net of Value Added Tax [VAT].

Expenses
The company is Partially Exempt for VAT and the majority of this VAT is irrecoverable. Where this is the case the irrecoverable VAT is added back to individual expenses and they are stated as gross cost.

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.

Subsequently investment properties whose fair value can be measured reliably on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Investment properties whose fair value cannot be measured reliably are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses.

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, directors loan and bank loan.

Directors' loans, trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.


Sundial House Limited (Registered number: SC531157)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 483,891
NET BOOK VALUE
At 31 March 2024 483,891
At 31 March 2023 483,891

Investment properties are stated at the directors' estimate of fair value at the balance sheet date. The directors did not consider that there had been any significant movement in the value during the period requiring a change in value. Investment property is held for long term rental returns. Included in the investment property is land held for rental at a cost of £66,006.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,015 1,026

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 984 755
Other creditors 20,138 20,208
21,122 20,963

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 483,024 483,024

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Term loan repayable by 2048 483,024 483,024

Sundial House Limited (Registered number: SC531157)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. LOANS

The term loan was advanced by family shareholder's which is interest free, unsecured and repayable in January 2048. The company may at it's discretion repay all or part at an earlier date.