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REGISTERED NUMBER: SC080442 (Scotland)















Unaudited Financial Statements for the Year Ended 28 November 2023

for

Stewart's (Sighthill) Holdings Limited

Stewart's (Sighthill) Holdings Limited (Registered number: SC080442)






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


Stewart's (Sighthill) Holdings 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: SC080442 (Scotland)





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

Stewart's (Sighthill) Holdings Limited (Registered number: SC080442)

Balance Sheet
28 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,142 7,627
Investment property 5 2,450,000 2,450,000
2,453,142 2,457,627

CURRENT ASSETS
Debtors 6 299,018 152,886
Cash at bank 606,534 816,145
905,552 969,031
CREDITORS
Amounts falling due within one year 7 40,628 52,171
NET CURRENT ASSETS 864,924 916,860
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,318,066

3,374,487

PROVISIONS FOR LIABILITIES 343,924 343,924
NET ASSETS 2,974,142 3,030,563

CAPITAL AND RESERVES
Called up share capital 32,500 32,500
Capital redemption reserve 51,804 51,804
Fair value reserve 8 1,605,508 1,605,508
Retained earnings 1,284,330 1,340,751
2,974,142 3,030,563

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.

Stewart's (Sighthill) Holdings Limited (Registered number: SC080442)

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


Stewart's (Sighthill) Holdings Limited (Registered number: SC080442)

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

1. STATUTORY INFORMATION

Stewart's (Sighthill) Holdings 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The directors have made key assumptions in the determination of the fair value of the investment properties in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

Turnover
Turnover comprises rents receivable by the company recognised on an accruals basis during the year. Rental income is exempt from Value Added Tax and all expenses are stated gross of Value Added Tax where applicable.

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

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - 25% straight line
Office Equipment - 25% straight line

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.

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.

Subsequently investment properties whose fair value can be measured reliably on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Investment properties whose fair value cannot be measured reliably are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses.


Stewart's (Sighthill) Holdings Limited (Registered number: SC080442)

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

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company pays into a money purchase pension scheme for the directors. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 29 November 2022
and 28 November 2023 57,671
DEPRECIATION
At 29 November 2022 50,044
Charge for year 4,485
At 28 November 2023 54,529
NET BOOK VALUE
At 28 November 2023 3,142
At 28 November 2022 7,627

Stewart's (Sighthill) Holdings Limited (Registered number: SC080442)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 29 November 2022
and 28 November 2023 2,450,000
NET BOOK VALUE
At 28 November 2023 2,450,000
At 28 November 2022 2,450,000

The directors have reviewed the fair value of 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 last professional valuation was carried out in July 2022 by Graham and Sibbald LLP.

The valuation uplift is reflected in the income statement and movement in revaluation reserve, net of the tax provision on the revalued amount. The fair value of £2,450,000 (2022: £2,450,000) is the accumulation of historic cost of £500,567 (2022: £500,567) and revaluations totalling £1,949,433 (2022: £1,949,433).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,789 14,125
Amounts owed by group undertakings 277,786 134,876
Other debtors 4,443 3,885
299,018 152,886

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,778 1,011
Taxation and social security 19,916 23,209
Other creditors 16,934 27,951
40,628 52,171

8. RESERVES
Fair
value
reserve
£   
At 29 November 2022
and 28 November 2023 1,605,508