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REGISTERED NUMBER: SC570600 (Scotland)





















Unaudited Financial Statements

For The Period 1 April 2023 to 30 November 2023

for

West End Properties (Glasgow) Limited

West End Properties (Glasgow) Limited (Registered number: SC570600)






Contents of the Financial Statements
For The Period 1 April 2023 to 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


West End Properties (Glasgow) Limited

Company Information
For The Period 1 April 2023 to 30 November 2023







DIRECTORS: C McMillan
Mrs D McMillan





REGISTERED OFFICE: 1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH





REGISTERED NUMBER: SC570600 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

West End Properties (Glasgow) Limited (Registered number: SC570600)

Balance Sheet
30 November 2023

30.11.23 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,168 16,420
Investment property 5 534,668 530,432
543,836 546,852

CURRENT ASSETS
Debtors 6 62,181 2,714
Cash at bank 86,988 68,378
149,169 71,092
CREDITORS
Amounts falling due within one year 7 77,494 69,171
NET CURRENT ASSETS 71,675 1,921
TOTAL ASSETS LESS CURRENT
LIABILITIES

615,511

548,773

CREDITORS
Amounts falling due after more than one
year

8

(522,657

)

(526,485

)

PROVISIONS FOR LIABILITIES 10 (1,884 ) (3,262 )
NET ASSETS 90,970 19,026

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 11 606 606
Retained earnings 90,363 18,419
90,970 19,026

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 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.

West End Properties (Glasgow) Limited (Registered number: SC570600)

Balance Sheet - continued
30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





C McMillan - Director


West End Properties (Glasgow) Limited (Registered number: SC570600)

Notes to the Financial Statements
For The Period 1 April 2023 to 30 November 2023

1. STATUTORY INFORMATION

West End Properties (Glasgow) 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.

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.

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 the cost less estimated residual value of each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.

Taxation
Taxation for the period 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.


West End Properties (Glasgow) Limited (Registered number: SC570600)

Notes to the Financial Statements - continued
For The Period 1 April 2023 to 30 November 2023

2. 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Motor Computer
property vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 4,236 26,659 1,249 32,144
Additions - - 144 144
Reclassification/transfer (4,236 ) - - (4,236 )
At 30 November 2023 - 26,659 1,393 28,052
DEPRECIATION
At 1 April 2023 - 15,412 312 15,724
Charge for period - 2,812 348 3,160
At 30 November 2023 - 18,224 660 18,884
NET BOOK VALUE
At 30 November 2023 - 8,435 733 9,168
At 31 March 2023 4,236 11,247 937 16,420

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 530,432
Reclassification/transfer 4,236
At 30 November 2023 534,668
NET BOOK VALUE
At 30 November 2023 534,668
At 31 March 2023 530,432

West End Properties (Glasgow) Limited (Registered number: SC570600)

Notes to the Financial Statements - continued
For The Period 1 April 2023 to 30 November 2023

5. INVESTMENT PROPERTY - continued

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2018 748
Cost 533,920
534,668

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

30.11.23 31.3.23
£    £   
Cost 533,920 533,920

Investment property was valued on an open market basis on 30 November 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 31.3.23
£    £   
Other debtors 62,181 2,714

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 31.3.23
£    £   
Bank loans and overdrafts 809 1,679
Hire purchase contracts 5,272 5,272
Trade creditors 2,945 -
Taxation and social security 42,281 11,951
Other creditors 26,187 50,269
77,494 69,171

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 31.3.23
£    £   
Bank loans 520,900 521,213
Hire purchase contracts 1,757 5,272
522,657 526,485

West End Properties (Glasgow) Limited (Registered number: SC570600)

Notes to the Financial Statements - continued
For The Period 1 April 2023 to 30 November 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 31.3.23
£    £   
Bank loans 521,709 522,432

The bank hold the following securities:
1. Standard security over property 11J New City Road, Glasgow, G4 9DE.
2. Standard security over property Attic Floor Flat above the second floor of the mid-terraced dwellinghouse known as 2 Alfred Terrace, Glasgow, G12 8RF.
3. Standard security over property Flat 1/2, 3 Caldercuilt Road, Glasgow, G20 0AD.
4. Standard security over property Ground Floor Flat, 2 Alfred terrace, Glasgow G12 8RF.

10. PROVISIONS FOR LIABILITIES
30.11.23 31.3.23
£    £   
Deferred tax
Deferred tax 1,884 3,120
Deferred tax on revaluation of property - 142
1,884 3,262

Deferred
tax
£   
Balance at 1 April 2023 3,262
Utilised during period (1,378 )
Balance at 30 November 2023 1,884

11. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 30 November 2023 606