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REGISTERED NUMBER: SC665302 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Anaga Properties Limited

Anaga Properties Limited (Registered number: SC665302)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Anaga Properties Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M S Gaddis
Dr M L Gala Santos





REGISTERED OFFICE: 5 South Charlotte Street
Edinburgh
EH2 4AN





REGISTERED NUMBER: SC665302 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Anaga Properties Limited (Registered number: SC665302)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 305,000 305,000

CURRENT ASSETS
Cash at bank 7,066 14,117

CREDITORS
Amounts falling due within one year 5 41,218 34,298
NET CURRENT LIABILITIES (34,152 ) (20,181 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

270,848

284,819

CREDITORS
Amounts falling due after more than one
year

6

(173,926

)

(189,000

)

PROVISIONS FOR LIABILITIES 8 (7,221 ) (7,221 )
NET ASSETS 89,701 88,598

CAPITAL AND RESERVES
Called up share capital 9 46,002 46,002
Share premium 17,000 17,000
Retained earnings 26,699 25,596
SHAREHOLDERS' FUNDS 89,701 88,598

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Anaga Properties Limited (Registered number: SC665302)

Balance Sheet - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:




M S Gaddis - Director



Dr M L Gala Santos - Director


Anaga Properties Limited (Registered number: SC665302)

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

1. STATUTORY INFORMATION

Anaga Properties 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 as modified by the revaluation of certain assets.

Investment property
Investment property is initially recognised at cost, and subsequently measured at fair value. Changes in fair value are recognised in profit & loss.

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Rental income
Rental income reflects amounts received in accordance with tenancy agreements. Amounts are recognised when there is a contractual right to receive that income per those agreements.

Anaga Properties Limited (Registered number: SC665302)

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

2. ACCOUNTING POLICIES - continued

Going concern
The directors are of the opinion that the company has sufficient means to meet its liabilities as they fall due, therefore the accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 305,000
NET BOOK VALUE
At 31 December 2023 305,000
At 31 December 2022 305,000

The directors, having considered the current state of the housing market, are of the opinion that there is no material difference between the current holding value of the properties and their fair value.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 38,003
Cost 266,997
305,000

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 266,997 266,997

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,757 -
Taxation and social security 712 660
Other creditors 36,749 33,638
41,218 34,298

Anaga Properties Limited (Registered number: SC665302)

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

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 173,926 189,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years 157,631 189,000

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 177,683 189,000

The bank loans are secured by registered charges over the assets of the company.

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 7,221 7,221

Deferred
tax
£   
Balance at 1 January 2023 7,221
Balance at 31 December 2023 7,221

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
46,002 Ordinary 1 46,002 46,002