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REGISTERED NUMBER: SC309891 (Scotland)















Financial Statements for the Year Ended 30 November 2023

for

Map Period Properties Limited

Map Period Properties Limited (Registered number: SC309891)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Map Period Properties Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: A Peteranna





REGISTERED OFFICE: Waterside
St Andrew's Walk
Fortrose
Highland
IV10 8TP





REGISTERED NUMBER: SC309891 (Scotland)





ACCOUNTANTS: Highland Accountancy Practice
Chartered Accountants
Suite 1A, Willow House
Stoneyfield Business Park
Inverness
Highland
IV2 7PA

Map Period Properties Limited (Registered number: SC309891)

Abridged Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 293,349 97,298
Investment property 5 20,000 20,000
313,349 117,298

CURRENT ASSETS
Debtors 39,253 1,723
Cash at bank 46,047 145,428
85,300 147,151
CREDITORS
Amounts falling due within one year 210,820 208,455
NET CURRENT LIABILITIES (125,520 ) (61,304 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

187,829

55,994

PROVISIONS FOR LIABILITIES 38,963 640
NET ASSETS 148,866 55,354

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation Reserve 6 101,032 -
Retained earnings 47,832 55,352
SHAREHOLDERS' FUNDS 148,866 55,354

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Map Period Properties Limited (Registered number: SC309891)

Abridged 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2024 and were signed by:





A Peteranna - Director


Map Period Properties Limited (Registered number: SC309891)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Map Period Properties 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.
Plant and Machinery - 20% on reducing balance
Motor Vehicles - 25% on reducing balance
Computer Equipment - 33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation, impairment losses, and reversals of impairment losses (where applicable).

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.

The latest valuation was undertaken in February 2024.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Map Period Properties Limited (Registered number: SC309891)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Long term contracts
For work in progress and finished goods under long term contracts, profit is recognised in accordance with the percentage of project completion. Income is therefore accrued annually in line with percentage completion.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 December 2022 107,085
Additions 66,033
Disposals (6,500 )
Revaluations 137,458
At 30 November 2023 304,076
DEPRECIATION
At 1 December 2022 9,787
Charge for year 4,698
Eliminated on disposal (3,758 )
At 30 November 2023 10,727
NET BOOK VALUE
At 30 November 2023 293,349
At 30 November 2022 97,298

Cost or valuation at 30 November 2023 is represented by:

Totals
£   
Valuation in 2023 137,458
Cost 166,618
304,076

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

30.11.23 30.11.22
£    £   
Cost 142,542 -

Freehold property was valued on a fair market value basis on 8 February 2024 by Shepherd chartered surveyors .

Map Period Properties Limited (Registered number: SC309891)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 20,000
NET BOOK VALUE
At 30 November 2023 20,000
At 30 November 2022 20,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2021 (35,000 )
Cost 55,000
20,000

6. RESERVES
Revaluation
Reserve
£   
Revaluation Reserve 101,032

At 30 November 2023 101,032

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
A Peteranna
Balance outstanding at start of year (198,247 ) (190,386 )
Amounts advanced 36,553 51,926
Amounts repaid (32,923 ) (59,787 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (194,617 ) (198,247 )

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the director Mr A Peteranna.