Silverfin false false 30/11/2023 01/12/2022 30/11/2023 Matthew John Paton 14/11/2016 29 August 2024 The principal activity of the Company during the financial year continued to be that of property investment, letting and development. SC550192 2023-11-30 SC550192 bus:Director1 2023-11-30 SC550192 2022-11-30 SC550192 core:CurrentFinancialInstruments 2023-11-30 SC550192 core:CurrentFinancialInstruments 2022-11-30 SC550192 core:Non-currentFinancialInstruments 2023-11-30 SC550192 core:Non-currentFinancialInstruments 2022-11-30 SC550192 core:ShareCapital 2023-11-30 SC550192 core:ShareCapital 2022-11-30 SC550192 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC550192 core:RetainedEarningsAccumulatedLosses 2022-11-30 SC550192 core:OtherPropertyPlantEquipment 2022-11-30 SC550192 core:OtherPropertyPlantEquipment 2023-11-30 SC550192 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-11-30 SC550192 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-11-30 SC550192 bus:OrdinaryShareClass1 2023-11-30 SC550192 2022-12-01 2023-11-30 SC550192 bus:FilletedAccounts 2022-12-01 2023-11-30 SC550192 bus:SmallEntities 2022-12-01 2023-11-30 SC550192 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 SC550192 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC550192 bus:Director1 2022-12-01 2023-11-30 SC550192 core:OtherPropertyPlantEquipment 2022-12-01 2023-11-30 SC550192 2021-12-01 2022-11-30 SC550192 core:Non-currentFinancialInstruments 2022-12-01 2023-11-30 SC550192 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 SC550192 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC550192 (Scotland)

AYTOUN PROPERTY LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

AYTOUN PROPERTY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023

Contents

AYTOUN PROPERTY LTD

BALANCE SHEET

AS AT 30 NOVEMBER 2023
AYTOUN PROPERTY LTD

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 68,342 4,077
Investment property 4 142,921 1,433,368
211,263 1,437,445
Current assets
Debtors 5 221,209 185,596
Cash at bank and in hand 73,794 14,992
295,003 200,588
Creditors: amounts falling due within one year 6 ( 155,318) ( 127,661)
Net current assets 139,685 72,927
Total assets less current liabilities 350,948 1,510,372
Creditors: amounts falling due after more than one year 7 ( 150,000) ( 1,486,351)
Net assets 200,948 24,021
Capital and reserves
Called-up share capital 8 1 1
Profit and loss account 200,947 24,020
Total shareholder's funds 200,948 24,021

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Aytoun Property Ltd (registered number: SC550192) were approved and authorised for issue by the Director on 29 August 2024. They were signed on its behalf by:

Matthew John Paton
Director
AYTOUN PROPERTY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
AYTOUN PROPERTY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Aytoun Property Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 22 Fifth Avenue, Glasgow, G12 0AT, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of rental income received or receivable for services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 December 2022 7,495 7,495
Additions 66,173 66,173
At 30 November 2023 73,668 73,668
Accumulated depreciation
At 01 December 2022 3,418 3,418
Charge for the financial year 1,908 1,908
At 30 November 2023 5,326 5,326
Net book value
At 30 November 2023 68,342 68,342
At 30 November 2022 4,077 4,077

4. Investment property

Investment property
£
Valuation
As at 01 December 2022 1,433,368
Additions 24,888
Disposals (1,315,335)
As at 30 November 2023 142,921

Investment property comprises of 2 residential properties. The fair value of the investment property has been arrived at on the basis of valuations carried out at 30 November 2023 by the director of the business. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5. Debtors

2023 2022
£ £
Amounts owed by related parties 210,744 185,596
Other debtors 10,465 0
221,209 185,596

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 31,181 3,620
Other creditors 124,137 124,041
155,318 127,661

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 150,000 1,328,938
Other creditors 0 157,413
150,000 1,486,351

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary Shares shares of £ 0.01 each 1 1

9. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amounts owed to/(due from) key management personnel (10,465) 28,949

Other related party transactions

2023 2022
£ £
Amounts due from other related parties 210,744 185,596