Morton & Ritchie (Properties) Ltd |
Registered number: |
SC363746 |
Balance Sheet |
as at 31 March 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Investments |
4 |
|
|
576,200 |
|
|
576,200 |
|
Current assets |
Debtors |
5 |
|
7,296 |
|
|
1,882 |
Cash at bank and in hand |
|
|
536,698 |
|
|
538,857 |
|
|
|
543,994 |
|
|
540,739 |
|
Creditors: amounts falling due within one year |
6 |
|
(18,262) |
|
|
(16,146) |
|
Net current assets |
|
|
|
525,732 |
|
|
524,593 |
|
Total assets less current liabilities |
|
|
|
1,101,932 |
|
|
1,100,793 |
|
|
Provisions for liabilities |
|
|
|
(75,778) |
|
|
(75,778) |
|
|
Net assets |
|
|
|
1,026,154 |
|
|
1,025,015 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
14,000 |
|
|
14,000 |
Profit and loss account |
|
|
|
1,012,154 |
|
|
1,011,015 |
|
Shareholders' funds |
|
|
|
1,026,154 |
|
|
1,025,015 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Mr George Morton |
Director |
Approved by the board on 16 August 2024 |
|
Morton & Ritchie (Properties) Ltd |
Notes to the Accounts |
for the year ended 31 March 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
|
|
Turnover |
|
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
IT equipment |
33% on cost |
|
|
Investment properties |
|
Investment property, which is property held to earn rentals and/or for capital appreciation, is intilally 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. The surplus or deficit on revaluation is recognised in profit or loss. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 April 2023 |
849 |
|
At 31 March 2024 |
849 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2023 |
849 |
|
At 31 March 2024 |
849 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2024 |
- |
|
|
4 |
Investment property |
|
Investment |
property |
£ |
|
Cost |
|
At 1 April 2023 |
576,200 |
|
|
At 31 March 2024 |
576,200 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 April 2023 |
161,488 |
|
At 31 March 2024 |
161,488 |
|
|
|
|
|
|
|
|
|
|
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The directors are satisfied that the financial statements reflect the fair value of the investment property at 31 March 2024. |
|
|
5 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Prepayments and accrued income |
7,296 |
|
1,882 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Corporation tax |
9,679 |
|
7,763 |
|
Accruals and deferred income |
8,583 |
|
8,383 |
|
|
|
|
|
|
18,262 |
|
16,146 |
|
|
|
|
|
|
|
|
|
|
|
7 |
Other information |
|
|
Morton & Ritchie (Properties) Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is: |
|
15 Robert Bruce Court |
|
Larbert |
|
Stirlingshire |
|
FK5 4HP |