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REGISTERED NUMBER: SC052040 (Scotland)















Unaudited Financial Statements for the Year Ended 28 November 2023

for

Landward Securities (Edinburgh) Limited

Landward Securities (Edinburgh) Limited (Registered number: SC052040)






Contents of the Financial Statements
for the Year Ended 28 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Landward Securities (Edinburgh) Limited

Company Information
for the Year Ended 28 November 2023







DIRECTORS: P J I Barr
L I Niven





SECRETARY: P J I Barr





REGISTERED OFFICE: 29 Hillpark Crescent
Edinburgh
EH4 7BG





REGISTERED NUMBER: SC052040 (Scotland)





ACCOUNTANTS: Jeffrey Crawford & Co
Chartered Accountants
25 Castle Terrace
Edinburgh
EH1 2ER

Landward Securities (Edinburgh) Limited (Registered number: SC052040)

Balance Sheet
28 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 633 434
Investments 5 2,534,855 2,534,855
Investment property 6 1,075,000 1,075,000
3,610,488 3,610,289

CURRENT ASSETS
Debtors 7 453,314 371,694
Cash at bank 1,226 11,264
454,540 382,958
CREDITORS
Amounts falling due within one year 8 324,493 192,047
NET CURRENT ASSETS 130,047 190,911
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,740,535

3,801,200

CREDITORS
Amounts falling due after more than one
year

9

-

(90,000

)

PROVISIONS FOR LIABILITIES (72,746 ) (72,746 )
NET ASSETS 3,667,789 3,638,454

CAPITAL AND RESERVES
Called up share capital 237 237
Share premium 1,605,365 1,605,365
Fair value reserve 10 424,844 424,844
Retained earnings 1,637,343 1,608,008
3,667,789 3,638,454

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 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.

Landward Securities (Edinburgh) Limited (Registered number: SC052040)

Balance Sheet - continued
28 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:





P J I Barr - Director


Landward Securities (Edinburgh) Limited (Registered number: SC052040)

Notes to the Financial Statements
for the Year Ended 28 November 2023

1. STATUTORY INFORMATION

Landward Securities (Edinburgh) 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.

Preparation of consolidated financial statements
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Turnover
Turnover comprises rents receivable by the company which are recognised on an accruals basis in the year. Rents are shown net of Value Added Tax

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciation 15% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Landward Securities (Edinburgh) Limited (Registered number: SC052040)

Notes to the Financial Statements - continued
for the Year Ended 28 November 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 29 November 2022 4,390
Additions 583
Disposals (931 )
At 28 November 2023 4,042
DEPRECIATION
At 29 November 2022 3,956
Charge for year 384
Eliminated on disposal (931 )
At 28 November 2023 3,409
NET BOOK VALUE
At 28 November 2023 633
At 28 November 2022 434

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 29 November 2022
and 28 November 2023 2,534,855
NET BOOK VALUE
At 28 November 2023 2,534,855
At 28 November 2022 2,534,855

Investments in group undertaking are held at cost subject to annual review for impairment. The directors do not believe that any impairment provision is required to the carrying value of the investment.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 29 November 2022
and 28 November 2023 1,075,000
NET BOOK VALUE
At 28 November 2023 1,075,000
At 28 November 2022 1,075,000

Landward Securities (Edinburgh) Limited (Registered number: SC052040)

Notes to the Financial Statements - continued
for the Year Ended 28 November 2023

6. INVESTMENT PROPERTY - continued

Fair value at 28 November 2023 is represented by:
£   
Valuation in 2018 (124,664 )
Valuation in 2021 155,000
Valuation in 2022 235,000
Cost 809,664
1,075,000

The directors valued the investment properties as at 28 November 2023 having taken into account the state of the property market in the location where the property is situated, changes in lease terms and in respect of the range of reasonable fair value estimates of the asset. The directors do not consider that any significant change in valuation has occurred since the professional valuation carried out in July 2022 by Ryden LLP.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 37,860 31,806
Amounts owed by group undertakings 334,518 339,888
Other debtors 80,936 -
453,314 371,694

The amount owed by the group undertaking is repayable on demand and interest free.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 824 643
Amounts owed to group undertakings 277,786 134,876
Taxation and social security 21,964 2,664
Other creditors 23,919 53,864
324,493 192,047

Other creditors include rents in advance, accrued expenses and member funds. Loans from group undertakings are interest free and repayable on demand.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors - 90,000

10. RESERVES
Fair
value
reserve
£   
At 29 November 2022
and 28 November 2023 424,844

Landward Securities (Edinburgh) Limited (Registered number: SC052040)

Notes to the Financial Statements - continued
for the Year Ended 28 November 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 November 2023 and 28 November 2022:

2023 2022
£    £   
L I Niven
Balance outstanding at start of year - -
Amounts advanced 64,000 -
Amounts repaid (3,487 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 60,513 -

12. RELATED PARTY DISCLOSURES

Caledonian Clothing Company Limited, a company controlled by one of the directors is a tenant of one of the investment properties and pays a below market rent of £12,000 per annum. At the balance sheet date Caledonian Clothing Company Limited owes the company £30,000 (2022: £23,600) in rent arrears. Caledonian Clothing Company limited operates independently of this company.

13. ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no ultimate controlling party of the company as no individual holds a controlling interest in the company in this or the prior year.