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REGISTERED NUMBER: 02605923 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

RICHARD STRACHAN PROPERTY CONSULTANT
LIMITED

RICHARD STRACHAN PROPERTY CONSULTANT
LIMITED (REGISTERED NUMBER: 02605923)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

RICHARD STRACHAN PROPERTY CONSULTANT
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: J O Nesbitt





REGISTERED OFFICE: Whatmore Court
Nash
Nr Ludlow
Shropshire
SY8 3AY





REGISTERED NUMBER: 02605923 (England and Wales)





ACCOUNTANTS: D.R.E. & Co. Limited
Chartered Accountants
Number 5
The Business Quarter
Eco Park Road
Ludlow
Shropshire
SY8 1FD

RICHARD STRACHAN PROPERTY CONSULTANT
LIMITED (REGISTERED NUMBER: 02605923)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - 749
Investment property 6 153,000 528,000
153,000 528,749

CURRENT ASSETS
Debtors 7 876,151 28,804
Cash at bank - 315,766
876,151 344,570
CREDITORS
Amounts falling due within one year 8 36,901 21,005
NET CURRENT ASSETS 839,250 323,565
TOTAL ASSETS LESS CURRENT
LIABILITIES

992,250

852,314

PROVISIONS FOR LIABILITIES 2,474 -
NET ASSETS 989,776 852,314

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 9 10,546 221,619
Retained earnings 979,130 630,595
989,776 852,314

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

RICHARD STRACHAN PROPERTY CONSULTANT
LIMITED (REGISTERED NUMBER: 02605923)

BALANCE SHEET - continued
29 FEBRUARY 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 7 August 2024 and were signed by:





J O Nesbitt - Director


RICHARD STRACHAN PROPERTY CONSULTANT
LIMITED (REGISTERED NUMBER: 02605923)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Richard Strachan Property Consultant Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention. The accounts have been prepared on a going concern basis.

The financial statements are presented in Sterling (£) rounded to the nearest £1.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.


RICHARD STRACHAN PROPERTY CONSULTANT
LIMITED (REGISTERED NUMBER: 02605923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 March 2023 15,456 693 16,149
Disposals (15,456 ) (693 ) (16,149 )
At 29 February 2024 - - -
DEPRECIATION
At 1 March 2023 15,021 379 15,400
Eliminated on disposal (15,021 ) (379 ) (15,400 )
At 29 February 2024 - - -
NET BOOK VALUE
At 29 February 2024 - - -
At 28 February 2023 435 314 749

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 528,000
Disposals (375,000 )
At 29 February 2024 153,000
NET BOOK VALUE
At 29 February 2024 153,000
At 28 February 2023 528,000

RICHARD STRACHAN PROPERTY CONSULTANT
LIMITED (REGISTERED NUMBER: 02605923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. INVESTMENT PROPERTY - continued

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2020 (13,980 )
Valuation in 2023 27,000
Cost 139,980
153,000

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

29.2.24 28.2.23
£    £   
Cost 139,980 306,381

Investment property was valued on an open market basis on 28 February 2024 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 26,002 7,570
Other debtor 843,283 19,000
VAT 4,946 -
Prepayments 1,920 2,234
876,151 28,804

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 240 -
Tax 22,519 5,922
VAT - 1,938
Other creditors 11,192 11,192
Directors' current accounts - 8
Accrued expenses 2,950 1,945
36,901 21,005

9. RESERVES
Non-distributable
reserve
£   
At 1 March 2023 221,619
Reserve transfer (211,073 )

At 29 February 2024 10,546

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
RICHARD STRACHAN PROPERTY CONSULTANT
LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Richard Strachan Property Consultant Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Richard Strachan Property Consultant Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Richard Strachan Property Consultant Limited and state those matters that we have agreed to state to the director of Richard Strachan Property Consultant Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Richard Strachan Property Consultant Limited and its director for our work or for this report.

It is your duty to ensure that Richard Strachan Property Consultant Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Richard Strachan Property Consultant Limited. You consider that Richard Strachan Property Consultant Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Richard Strachan Property Consultant Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






D.R.E. & Co. Limited
Chartered Accountants
Number 5
The Business Quarter
Eco Park Road
Ludlow
Shropshire
SY8 1FD


9 August 2024