REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
The Shalstan Property Company Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
The Shalstan Property Company Limited |
The Shalstan Property Company Limited (Registered number: SC028867) |
Contents of the Financial Statements |
for the Year Ended 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
The Shalstan Property Company Limited |
Company Information |
for the Year Ended 30 November 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
39 St Vincent Place |
Glasgow |
G1 2ER |
The Shalstan Property Company Limited (Registered number: SC028867) |
Balance Sheet |
30 November 2023 |
30.11.23 | 30.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Capital reserve |
Non distributable reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
The Shalstan Property Company Limited (Registered number: SC028867) |
Balance Sheet - continued |
30 November 2023 |
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 |
The Shalstan Property Company Limited (Registered number: SC028867) |
Notes to the Financial Statements |
for the Year Ended 30 November 2023 |
1. | STATUTORY INFORMATION |
The Shalstan Property Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of rents due during the period. |
Investments in associates |
Investments in associate 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. |
Financial instruments |
The company only has basic financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
Taxation |
Taxation for the year comprises current and deferred tax. |
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. |
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
Fair value changes in investment properties are transferred to non distributable reserves. |
Listed investments held as fixed assets are recognised at fair value which is the equivalent to market value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
The Shalstan Property Company Limited (Registered number: SC028867) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
4. | FIXED ASSET INVESTMENTS |
Interest |
in | Listed |
associate | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 December 2022 | 879,297 |
Additions | 19,845 |
Disposals | ( |
) | (23,283 | ) |
Revaluations | ( |
) | (8,651 | ) |
At 30 November 2023 | 867,208 |
NET BOOK VALUE |
At 30 November 2023 | 867,208 |
At 30 November 2022 | 879,297 |
Cost or valuation at 30 November 2023 is represented by: |
Interest |
in | Listed |
associate | investments | Totals |
£ | £ | £ |
Valuation in 2019 | - | 6,660 | 6,660 |
Valuation in 2020 | - | 55,657 | 55,657 |
Valuation in 2021 | - | 67,058 | 67,058 |
Valuation in 2022 | - | (72,463 | ) | (72,463 | ) |
Valuation in 2023 | - | (8,651 | ) | (8,651 | ) |
Cost | 465,000 | 353,947 | 818,947 |
465,000 | 402,208 | 867,208 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2022 |
Revaluations | 168,750 |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
The last professional valuation of the Investment Property was carried out at 30th November 2016. As at 30th November 2023 the directors believe the valuation to have increased by £168,750 to £4,796,977. |
The Shalstan Property Company Limited (Registered number: SC028867) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 30 November 2023 is represented by: |
£ |
Valuation in 2023 | 168,750 |
Cost | 4,628,227 |
4,796,977 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Other creditors |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.23 | 30.11.22 |
value: | £ | £ |
Ordinary shares | £1 | 150 | 150 |
The company is under the control of the trustees of David C. Marshall's Inter Vivos Trust. |