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REGISTERED NUMBER: SC234968 (Scotland)















Financial Statements For The Year Ended 31 March 2024

for

Arcweld (Property) Ltd.

Arcweld (Property) Ltd. (Registered number: SC234968)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Arcweld (Property) Ltd.

Company Information
For The Year Ended 31 March 2024







DIRECTORS: G Dickson
L C Dickson





REGISTERED OFFICE: C/O Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
G2 2QZ





REGISTERED NUMBER: SC234968 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Arcweld (Property) Ltd. (Registered number: SC234968)

Abridged Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,917 27,155
Investment property 5 617,630 818,057
633,547 845,212

CURRENT ASSETS
Debtors 236,824 236,473
Cash at bank 172,713 11,836
409,537 248,309
CREDITORS
Amounts falling due within one year 198,749 214,702
NET CURRENT ASSETS 210,788 33,607
TOTAL ASSETS LESS CURRENT
LIABILITIES

844,335

878,819

CREDITORS
Amounts falling due after more than one
year

(105,401

)

(150,261

)

PROVISIONS FOR LIABILITIES (42,471 ) (48,097 )
NET ASSETS 696,463 680,461

CAPITAL AND RESERVES
Called up share capital 154 154
Share premium 24,946 24,946
Other reserves 140,403 176,718
Retained earnings 530,960 478,643
SHAREHOLDERS' FUNDS 696,463 680,461

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Arcweld (Property) Ltd. (Registered number: SC234968)

Abridged Statement of Financial Position - continued
31 March 2024


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 Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:





G Dickson - Director


Arcweld (Property) Ltd. (Registered number: SC234968)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Arcweld (Property) 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced rental income, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixed plant and equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Comp Software - 33.33% on cost

Investment property
Investment property, which is held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Arcweld (Property) Ltd. (Registered number: SC234968)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 149,938
Disposals (15,150 )
At 31 March 2024 134,788
DEPRECIATION
At 1 April 2023 122,783
Charge for year 11,238
Eliminated on disposal (15,150 )
At 31 March 2024 118,871
NET BOOK VALUE
At 31 March 2024 15,917
At 31 March 2023 27,155

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 818,057
Disposals (200,427 )
At 31 March 2024 617,630
NET BOOK VALUE
At 31 March 2024 617,630
At 31 March 2023 818,057

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 617,630

If investment property had not been revalued 2022 would have been included at the following historical cost:

2024 2023
£    £   
Cost 603,367 603,367

Investment property was valued on an open market basis on 31 March 2022 by the Directors. .

Arcweld (Property) Ltd. (Registered number: SC234968)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 135,596 190,992

The Bank of Scotland hold a floating charge over the assets of the company.

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
G Dickson
Balance outstanding at start of year 155,978 136,154
Amounts advanced 5,052 51,462
Amounts repaid - (31,638 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 161,030 155,978

8. RELATED PARTY DISCLOSURES

Included within other debtors as at 31 March 2024 is an amount of £6,300 (2023: £3,600) due from AS Glass
and Stainless Ltd, a company which is owned and controlled by a close family member. Also included within
other debtors are amounts of £6,516 (2023: £7.345) due from Curlers Limited, £1,130 (2023: £2,830) due from
LCD Bookkeeping Services Ltd, which are all companies under common control.

Included within other creditors at 31 March 2024 is an amount of £35,597 (2023: ((£6,205)) due to/(from) UK
Structural Systems Limited a company under common control. Also included within other creditors is an amount
of £52,580 (2023: £52,580) due to GLD Property Ltd a company owned and controlled by a close family
member. There is also an amount of £513 (2023: £513) due to R Dickson, a close family member.

The above amounts are unsecured, interest free and repayable upon demand.