Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr A Robinson 31/08/1995 Mr J Robinson 01/10/2000 06 September 2024 The principal activity of the company during the year was letting and operating of properties. SC160135 2023-12-31 SC160135 bus:Director1 2023-12-31 SC160135 bus:Director2 2023-12-31 SC160135 2022-12-31 SC160135 core:CurrentFinancialInstruments 2023-12-31 SC160135 core:CurrentFinancialInstruments 2022-12-31 SC160135 core:Non-currentFinancialInstruments 2023-12-31 SC160135 core:Non-currentFinancialInstruments 2022-12-31 SC160135 core:ShareCapital 2023-12-31 SC160135 core:ShareCapital 2022-12-31 SC160135 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC160135 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC160135 core:LeaseholdImprovements 2022-12-31 SC160135 core:PlantMachinery 2022-12-31 SC160135 core:LeaseholdImprovements 2023-12-31 SC160135 core:PlantMachinery 2023-12-31 SC160135 bus:OrdinaryShareClass1 2023-12-31 SC160135 2023-01-01 2023-12-31 SC160135 bus:FilletedAccounts 2023-01-01 2023-12-31 SC160135 bus:SmallEntities 2023-01-01 2023-12-31 SC160135 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC160135 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC160135 bus:Director1 2023-01-01 2023-12-31 SC160135 bus:Director2 2023-01-01 2023-12-31 SC160135 core:PlantMachinery 2023-01-01 2023-12-31 SC160135 2022-01-01 2022-12-31 SC160135 core:LeaseholdImprovements 2023-01-01 2023-12-31 SC160135 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 SC160135 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC160135 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC160135 (Scotland)

R & R PROPERTIES (FALKIRK) LTD.

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

R & R PROPERTIES (FALKIRK) LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

R & R PROPERTIES (FALKIRK) LTD.

BALANCE SHEET

AS AT 31 DECEMBER 2023
R & R PROPERTIES (FALKIRK) LTD.

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 241,894 268,587
Investment property 4 3,526,645 3,526,645
3,768,539 3,795,232
Current assets
Debtors 5 4,585 6,774
Cash at bank and in hand 869,635 655,280
874,220 662,054
Creditors: amounts falling due within one year 6 ( 200,537) ( 147,286)
Net current assets 673,683 514,768
Total assets less current liabilities 4,442,222 4,310,000
Creditors: amounts falling due after more than one year 7 ( 736,444) ( 734,944)
Provision for liabilities ( 58,754) ( 67,147)
Net assets 3,647,024 3,507,909
Capital and reserves
Called-up share capital 8 5,000 5,000
Profit and loss account 3,642,024 3,502,909
Total shareholders' funds 3,647,024 3,507,909

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of R & R Properties (Falkirk) Ltd. (registered number: SC160135) were approved and authorised for issue by the Board of Directors on 06 September 2024. They were signed on its behalf by:

Mr A Robinson
Director
Mr J Robinson
Director
R & R PROPERTIES (FALKIRK) LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
R & R PROPERTIES (FALKIRK) LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 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

R & R Properties (Falkirk) 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 7 Kingseat Place, Falkirk, FK1 5PF, 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have 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 the consideration received or receivable for goods and services
provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair
value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the
customer.

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 and freehold land, 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:

Leasehold improvements not depreciated
Plant and machinery 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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.

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 and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Total
£ £ £
Cost
At 01 January 2023 105,704 437,956 543,660
Additions 0 7,060 7,060
At 31 December 2023 105,704 445,016 550,720
Accumulated depreciation
At 01 January 2023 0 275,073 275,073
Charge for the financial year 0 33,753 33,753
At 31 December 2023 0 308,826 308,826
Net book value
At 31 December 2023 105,704 136,190 241,894
At 31 December 2022 105,704 162,883 268,587

4. Investment property

Investment property
£
Valuation
As at 01 January 2023 3,526,645
As at 31 December 2023 3,526,645

Valuation

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 December 2023 by the company directors. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.

5. Debtors

2023 2022
£ £
Trade debtors 3,085 6,774
Other debtors 1,500 0
4,585 6,774

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 17,891 10,582
Accruals 2,861 2,650
Taxation and social security 179,785 134,054
200,537 147,286

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

2023 2022
£ £
Amounts owed to directors 736,444 736,444
Other creditors 0 ( 1,500)
736,444 734,944

The loan balance is secured over the assets of the company.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
5,000 Ordinary shares of £ 1.00 each 5,000 5,000

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts due to directors 736,444 736,444

Other related party transactions

2023 2022
£ £
Amounts due to/(from) Robinson Hire Drive Ltd 1,500 (1,500)