IRIS Accounts Production v24.2.0.383 SC582718 director 1.12.22 30.11.23 30.11.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5827182022-11-30SC5827182023-11-30SC5827182022-12-012023-11-30SC5827182021-11-30SC5827182021-12-012022-11-30SC5827182022-11-30SC582718ns15:Scotland2022-12-012023-11-30SC582718ns14:PoundSterling2022-12-012023-11-30SC582718ns10:Director12022-12-012023-11-30SC582718ns10:PrivateLimitedCompanyLtd2022-12-012023-11-30SC582718ns10:SmallEntities2022-12-012023-11-30SC582718ns10:AuditExempt-NoAccountantsReport2022-12-012023-11-30SC582718ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-30SC582718ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-30SC582718ns10:FullAccounts2022-12-012023-11-30SC582718ns5:CurrentFinancialInstruments2023-11-30SC582718ns5:CurrentFinancialInstruments2022-11-30SC582718ns5:Non-currentFinancialInstruments2023-11-30SC582718ns5:Non-currentFinancialInstruments2022-11-30SC582718ns5:ShareCapital2023-11-30SC582718ns5:ShareCapital2022-11-30SC582718ns5:RetainedEarningsAccumulatedLosses2023-11-30SC582718ns5:RetainedEarningsAccumulatedLosses2022-11-30SC582718ns5:PlantMachinery2022-12-012023-11-30SC582718ns5:PlantMachinery2022-11-30SC582718ns5:PlantMachinery2023-11-30SC582718ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-30SC582718ns5:WithinOneYearns5:CurrentFinancialInstruments2022-11-30
REGISTERED NUMBER: SC582718 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Albany Residential Properties Ltd

Albany Residential Properties Ltd (Registered number: SC582718)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


Albany Residential Properties Ltd (Registered number: SC582718)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 639,272 572,550
639,272 572,550

CURRENT ASSETS
Debtors 6 550 550
Cash at bank 794 12,659
1,344 13,209
CREDITORS
Amounts falling due within one year 7 567,493 509,933
NET CURRENT LIABILITIES (566,149 ) (496,724 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,123

75,826

CREDITORS
Amounts falling due after more than one
year

8

15,064

25,000
NET ASSETS 58,059 50,826

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 57,959 50,726
SHAREHOLDERS' FUNDS 58,059 50,826

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.

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 director and authorised for issue on 30 August 2024 and were signed by:





A M Keenan - Director


Albany Residential Properties Ltd (Registered number: SC582718)

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

1. STATUTORY INFORMATION

Albany Residential Properties Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC582718. The registered office is 42 Stirling Street, Denny, FK6 6DJ.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on 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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

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

Albany Residential Properties Ltd (Registered number: SC582718)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022
and 30 November 2023 7,520
DEPRECIATION
At 1 December 2022
and 30 November 2023 7,520
NET BOOK VALUE
At 30 November 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 572,550
Additions 66,722
At 30 November 2023 639,272
NET BOOK VALUE
At 30 November 2023 639,272
At 30 November 2022 572,550

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 550 550

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 10,000 10,000
Taxation and social security 2,220 3,610
Other creditors 555,273 496,323
567,493 509,933

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 15,064 25,000