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REGISTERED NUMBER: SC582344 (Scotland)





















Unaudited Financial Statements

For The Year Ended 30 November 2023

for

Go 2 Property (Scotland) Ltd

Go 2 Property (Scotland) Ltd (Registered number: SC582344)






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

Chartered Accountants' Report 7

Go 2 Property (Scotland) Ltd

Company Information
For The Year Ended 30 November 2023







DIRECTORS: Mrs L Quinn
Mr S Quinn





REGISTERED OFFICE: 1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH





REGISTERED NUMBER: SC582344 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

Go 2 Property (Scotland) Ltd (Registered number: SC582344)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 344,935 228,894
Investment property 5 497,112 722,276
842,047 951,170

CURRENT ASSETS
Debtors 6 8,526 7,055
Cash at bank 6,744 1,016
15,270 8,071
CREDITORS
Amounts falling due within one year 7 209,421 246,743
NET CURRENT LIABILITIES (194,151 ) (238,672 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

647,896

712,498

CREDITORS
Amounts falling due after more than one
year

8

647,739

768,149
NET ASSETS/(LIABILITIES) 157 (55,651 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 57 (55,751 )
157 (55,651 )

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 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.

Go 2 Property (Scotland) Ltd (Registered number: SC582344)

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.

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 29 August 2024 and were signed on its behalf by:





Mrs L Quinn - Director


Go 2 Property (Scotland) Ltd (Registered number: SC582344)

Notes to the Financial Statements
For The Year Ended 30 November 2023

1. STATUTORY INFORMATION

Go 2 Property (Scotland) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.
Freehold property - 2% on cost
Fixtures and fittings - 25% on reducing balance

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.

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.

Going concern
Having assessed the principal risks, the directors considered it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

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

Go 2 Property (Scotland) Ltd (Registered number: SC582344)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 December 2022 237,350 4,560 241,910
Additions 123,412 - 123,412
At 30 November 2023 360,762 4,560 365,322
DEPRECIATION
At 1 December 2022 9,494 3,522 13,016
Charge for year 7,215 156 7,371
At 30 November 2023 16,709 3,678 20,387
NET BOOK VALUE
At 30 November 2023 344,053 882 344,935
At 30 November 2022 227,856 1,038 228,894

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 722,276
Disposals (225,164 )
At 30 November 2023 497,112
NET BOOK VALUE
At 30 November 2023 497,112
At 30 November 2022 722,276

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 6,629 5,052
Other debtors 1,897 2,003
8,526 7,055

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 4,048 3,948
Trade creditors 3,368 2,700
Taxation and social security 8,430 -
Other creditors 193,575 240,095
209,421 246,743

Go 2 Property (Scotland) Ltd (Registered number: SC582344)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 647,739 768,149

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 641,475 757,837

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank Loans 641,475 748,212

The bank Loan is secured on the following properties:
1 Catherine's Walk
4 Trongate
252 North Dryburgh Road
32 Bruce Terrace
34 Bruce Terrace
35 Mournian Way
103 Strathaven Road
42 Rervoir Road

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Go 2 Property (Scotland) Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Go 2 Property (Scotland) Ltd for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Go 2 Property (Scotland) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Go 2 Property (Scotland) Ltd and state those matters that we have agreed to state to the Board of Directors of Go 2 Property (Scotland) Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Go 2 Property (Scotland) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Go 2 Property (Scotland) Ltd. You consider that Go 2 Property (Scotland) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Go 2 Property (Scotland) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH


29 August 2024