2022-09-012023-08-312023-08-31falseSC672200PRINGLE PROPERTY 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PRINGLE PROPERTY LTD

Registered Number
SC672200
(Scotland)

Unaudited Financial Statements for the Year ended
31 August 2023

PRINGLE PROPERTY LTD
Company Information
for the year from 1 September 2022 to 31 August 2023

Director

HARGREAVES, Nicola

Registered Address

Gr 19 Union Street
Largs
KA30 8DG

Registered Number

SC672200 (Scotland)
PRINGLE PROPERTY LTD
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors20,96311,415
Cash at bank and on hand350-
21,31311,415
Creditors amounts falling due within one year4(10,588)(4,651)
Net current assets (liabilities)10,7256,764
Total assets less current liabilities10,7256,764
Creditors amounts falling due after one year5(2,922)(3,525)
Net assets7,8033,239
Capital and reserves
Called up share capital33
Profit and loss account7,8003,236
Shareholders' funds7,8033,239
The financial statements were approved and authorised for issue by the Director on 24 August 2024, and are signed on its behalf by:
HARGREAVES, Nicola
Director
Registered Company No. SC672200
PRINGLE PROPERTY LTD
Notes to the Financial Statements
for the year ended 31 August 2023

1.Accounting policies
Statutory information
Pringle Property Limited is a private company limited by shares incorporated in Scotland . The registered office is G/R, 19 Union Street, Largs, Ayrshire, KA30 8DG.
Statement of compliance
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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. The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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. Changes in fair value are recognised in profit or loss.
2.Average number of employees

20232022
Average number of employees during the year11
3.Investment property
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables7,5591,492
Taxation and social security1,830759
Accrued liabilities and deferred income1,1992,400
Total10,5884,651
5.Creditors: amounts due after one year

2023

2022

££
Other creditors2,9223,525
Total2,9223,525
6.Related party transactions
The company is owed a total balance of £15,503 from Sourced Ayrshire Ltd, £4,550 from Auchinleck Developments Ltd and £910 from Alocin Ltd at the balance sheet date. This companys all have a common director, N J Hargreaves. This amount is included within other debtors. Included within other creditors more than one year is a loan made to the company by N J Hargreaves of £2,922. The loan was made on an interest-free basis. The repayment terms have not yet been set.