Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-03-01falseNo description of principal activity43true SC620468 2023-03-01 2024-02-29 SC620468 2022-03-01 2023-02-28 SC620468 2024-02-29 SC620468 2023-02-28 SC620468 c:CompanySecretary1 2023-03-01 2024-02-29 SC620468 c:Director1 2023-03-01 2024-02-29 SC620468 c:Director2 2023-03-01 2024-02-29 SC620468 c:Director3 2023-03-01 2024-02-29 SC620468 c:Director4 2023-03-01 2024-02-29 SC620468 c:Director4 2024-02-29 SC620468 c:RegisteredOffice 2023-03-01 2024-02-29 SC620468 d:PlantMachinery 2023-03-01 2024-02-29 SC620468 d:PlantMachinery 2024-02-29 SC620468 d:PlantMachinery 2023-02-28 SC620468 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 SC620468 d:OfficeEquipment 2023-03-01 2024-02-29 SC620468 d:OfficeEquipment 2024-02-29 SC620468 d:OfficeEquipment 2023-02-28 SC620468 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 SC620468 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 SC620468 d:FreeholdInvestmentProperty 2024-02-29 SC620468 d:FreeholdInvestmentProperty 2023-02-28 SC620468 d:CurrentFinancialInstruments 2024-02-29 SC620468 d:CurrentFinancialInstruments 2023-02-28 SC620468 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 SC620468 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 SC620468 d:ShareCapital 2024-02-29 SC620468 d:ShareCapital 2023-02-28 SC620468 d:RetainedEarningsAccumulatedLosses 2024-02-29 SC620468 d:RetainedEarningsAccumulatedLosses 2023-02-28 SC620468 c:OrdinaryShareClass1 2023-03-01 2024-02-29 SC620468 c:OrdinaryShareClass1 2024-02-29 SC620468 c:OrdinaryShareClass1 2023-02-28 SC620468 c:FRS102 2023-03-01 2024-02-29 SC620468 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 SC620468 c:FullAccounts 2023-03-01 2024-02-29 SC620468 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC620468 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC620468










SOUTAR PROPERTY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

 
SOUTAR PROPERTY LIMITED
 

COMPANY INFORMATION


Directors
Mrs F Soutar 
Mr R D Soutar 
Mr C H Soutar 
Miss T M E Soutar (appointed 20 January 2024)




Company secretary
Mrs F Soutar



Registered number
SC620468



Registered office
Woodlands House
Woodlands

Markinch

KY7 6HE




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
SOUTAR PROPERTY LIMITED
REGISTERED NUMBER: SC620468

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
1,357
1,909

Investment property
 5 
69,432
69,432

  
70,789
71,341

Current assets
  

Debtors: amounts falling due within one year
 6 
2,830
2,957

Cash at bank and in hand
  
83,691
9,462

  
86,521
12,419

Creditors: amounts falling due within one year
 7 
(157,317)
(84,212)

Net current liabilities
  
 
 
(70,796)
 
 
(71,793)

Total assets less current liabilities
  
(7)
(452)

Provisions for liabilities
  

Deferred tax
  
(65)
-

  
 
 
(65)
 
 
-

Net liabilities
  
(72)
(452)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(172)
(552)

  
(72)
(452)


Page 1

 
SOUTAR PROPERTY LIMITED
REGISTERED NUMBER: SC620468

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 August 2024.




Mrs F Soutar
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
SOUTAR PROPERTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Soutar Property Limited is limited by shares and incorporated in Scotland with registration number SC620468. The address of the register office is the Woodlands House, Woodlands, Markinch, KY7 6HE.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered a period of 12 months from the date of approval of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Page 3

 
SOUTAR PROPERTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
SOUTAR PROPERTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2023 - 3).


4.


Tangible fixed assets







Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
670
1,918
2,588



At 29 February 2024

670
1,918
2,588



Depreciation


At 1 March 2023
224
455
679


Charge for the year 
168
384
552



At 29 February 2024

392
839
1,231



Net book value



At 29 February 2024
278
1,079
1,357



At 28 February 2023
446
1,463
1,909


5.


Investment property





Freehold investment property

£



Valuation


At 1 March 2023
69,432



At 29 February 2024
69,432

The 2024 valuations were made by the directors, on an open market value for existing use basis.




Page 5

 
SOUTAR PROPERTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Debtors

29 February
28 February
2024
2023
£
£


Prepayments and accrued income
2,830
2,830

Deferred taxation
-
127

2,830
2,957



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Other creditors
156,117
83,114

Accruals and deferred income
1,200
1,098

157,317
84,212



8.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



Page 6