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REGISTERED NUMBER: SC149152 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Duncan Stewart (Kirkintilloch) Limited

Duncan Stewart (Kirkintilloch) Limited (Registered number: SC149152)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Duncan Stewart (Kirkintilloch) Limited (Registered number: SC149152)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,548 7,864
Investments 5 1,000 1,000
Investment property 6 3,338,719 3,338,719
3,345,267 3,347,583

CURRENT ASSETS
Debtors 7 699,257 667,937
Investments 8 292,260 282,718
Cash at bank 530,438 502,757
1,521,955 1,453,412
CREDITORS
Amounts falling due within one year 9 (171,363 ) (163,520 )
NET CURRENT ASSETS 1,350,592 1,289,892
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,695,859

4,637,475

PROVISIONS FOR LIABILITIES (210,456 ) (210,998 )
NET ASSETS 4,485,403 4,426,477

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 4,484,403 4,425,477
4,485,403 4,426,477

Duncan Stewart (Kirkintilloch) Limited (Registered number: SC149152)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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

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 26 August 2024 and were signed on its behalf by:





Mr D F Stewart - Director


Duncan Stewart (Kirkintilloch) Limited (Registered number: SC149152)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Duncan Stewart (Kirkintilloch) Limited is a private company, limited by shares, domiciled in Scotland, registration number SC149152. The registered office is 5 Campsie Road, Kirkintilloch, Glasgow, Scotland, G66 1SL.

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 sales of services in respect of property letting, excluding value added tax. Sales are recognised at the point at which the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold Property - 4% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 33% on cost and 25% on cost
Fencing - 10% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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.

Duncan Stewart (Kirkintilloch) Limited (Registered number: SC149152)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Listed investments
Investments in listed shares are included at fair value.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
Property machinery fittings Fencing Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 37,090 30,973 6,966 12,882 87,911
DEPRECIATION
At 1 January 2023 34,378 30,826 6,214 8,629 80,047
Charge for year 149 126 752 1,289 2,316
At 31 December 2023 34,527 30,952 6,966 9,918 82,363
NET BOOK VALUE
At 31 December 2023 2,563 21 - 2,964 5,548
At 31 December 2022 2,712 147 752 4,253 7,864

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 1,000
NET BOOK VALUE
At 31 December 2023 1,000
At 31 December 2022 1,000

Duncan Stewart (Kirkintilloch) Limited (Registered number: SC149152)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 3,338,719
NET BOOK VALUE
At 31 December 2023 3,338,719
At 31 December 2022 3,338,719

Fair value at 31 December 2023 is represented by:
£   
Valuation in 1995 338,343
Valuation in 1998 500,000
Valuation in 2000 325,142
Valuation in 2005 437,889
Valuation in 2006 200,000
Valuation in 2009 (118,800 )
Cost 1,656,145
3,338,719

The investment properties were valued on a fair value basis on 31 December 2009 by the directors. The directors do not believe that there has been any indication that this valuation has changed.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 33,182 10,245
Amounts owed by related parties 641,644 634,644
Other debtors 24,431 23,048
699,257 667,937

8. CURRENT ASSET INVESTMENTS
31.12.23 31.12.22
£    £   
Listed investments 292,260 282,718

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors (224 ) (223 )
Amounts owed to related parties 19,381 19,381
Taxation and social security 69,385 56,423
Other creditors 82,821 87,939
171,363 163,520

Duncan Stewart (Kirkintilloch) Limited (Registered number: SC149152)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. RELATED PARTY DISCLOSURES

Transactions and balances with entities with common control are as follows:

Amounts Owed - £641,644 (2022: £634,644)
Amounts Due - £19,381 (2022: £19,381)