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REGISTERED NUMBER: SC726498 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Homes Aberdeen Ltd

Homes Aberdeen Ltd (Registered number: SC726498)






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


Homes Aberdeen Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr B J Anderson
Mr J M Anderson





REGISTERED OFFICE: Rear Office
42 Baxter Street
Aberdeen
AB11 9QE





REGISTERED NUMBER: SC726498 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Homes Aberdeen Ltd (Registered number: SC726498)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 86,173 86,173

CURRENT ASSETS
Debtors 5 - 50
Cash at bank 1,317 937
1,317 987
CREDITORS
Amounts falling due within one year 6 26,678 29,151
NET CURRENT LIABILITIES (25,361 ) (28,164 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,812

58,009

CREDITORS
Amounts falling due after more than one
year

7

60,010

60,010
NET ASSETS/(LIABILITIES) 802 (2,001 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 702 (2,101 )
802 (2,001 )

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 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.

Homes Aberdeen Ltd (Registered number: SC726498)

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 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:





Mr B J Anderson - Director


Homes Aberdeen Ltd (Registered number: SC726498)

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

1. STATUTORY INFORMATION

Homes Aberdeen Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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. Investment property is carried at fair value determined annually by the directors and derived from current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 86,173
NET BOOK VALUE
At 31 March 2024 86,173
At 31 March 2023 86,173

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors - 50

Homes Aberdeen Ltd (Registered number: SC726498)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed to participating interests 23,600 27,000
Taxation and social security 165 -
Other creditors 2,913 2,151
26,678 29,151

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 60,010 60,010

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 60,010 60,010

Bank borrowings are secured by a standard security over the company's heritable property at 22 Tollohill Square, Aberdeen, AB12 5EQ in favour of The Mortgage Lender Limited.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

31.3.24 31.3.23
£    £   
Mr B J Anderson
Balance outstanding at start of year (1,310 ) -
Amounts advanced - 50
Amounts repaid (360 ) (1,360 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,670 ) (1,310 )

Mr J M Anderson
Balance outstanding at start of year 50 -
Amounts advanced - 50
Amounts repaid (50 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 50

Homes Aberdeen Ltd (Registered number: SC726498)

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

10. RELATED PARTY DISCLOSURES

Mr B J Anderson and Mr J M Anderson are also directors of J Amber Joinery Ltd, a company registered in Scotland. As at the balance sheet date there is a balance due to J Amber Joinery Ltd of £23,600 (2023 - £27,000). There is no interest charged and there are no fixed terms of repayment.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who own 100% of the share capital.