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CAMPBELL & SELLAR (PROPERTIES) LIMITED

Registered Number
SC435349
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2023

CAMPBELL & SELLAR (PROPERTIES) LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

STRACHAN, Athol Gordon
STRACHAN, Jacqueline Elspeth

Registered Address

East Lodge Greenwell Road
East Tullos
Aberdeen
AB12 3AX

Registered Number

SC435349 (Scotland)
CAMPBELL & SELLAR (PROPERTIES) LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets36,4829,188
Investment property42,175,0002,175,000
2,181,4822,184,188
Current assets
Debtors2,1621,593
Cash at bank and on hand3091,321
2,4712,914
Creditors amounts falling due within one year5(670,914)(563,528)
Net current assets (liabilities)(668,443)(560,614)
Total assets less current liabilities1,513,0391,623,574
Creditors amounts falling due after one year6(902,432)(1,077,767)
Provisions for liabilities7(1,077)(1,557)
Net assets609,530544,250
Capital and reserves
Called up share capital100100
Profit and loss account609,430544,150
Shareholders' funds609,530544,250
The financial statements were approved and authorised for issue by the Board of Directors on 8 August 2024, and are signed on its behalf by:
STRACHAN, Athol Gordon
Director
Registered Company No. SC435349
CAMPBELL & SELLAR (PROPERTIES) LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investment property
Investment property, which is property 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.
2.Average number of employees

20232022
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Total

££££
Cost or valuation
At 01 January 2327,9615,45013,84847,259
At 31 December 2327,9615,45013,84847,259
Depreciation and impairment
At 01 January 2322,8182,68512,56838,071
Charge for year1,3327905842,706
At 31 December 2324,1503,47513,15240,777
Net book value
At 31 December 233,8111,9756966,482
At 31 December 225,1432,7651,2809,188
4.Investment property
Investment property comprises property in Aberdeen. The fair value of the investment property has been arrived at by the Directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

£
Fair value at 01 January 232,175,000
At 31 December 232,175,000
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables2,0495,157
Bank borrowings and overdrafts59,00759,007
Taxation and social security18,02021,132
Other creditors539,848424,982
Accrued liabilities and deferred income51,99053,250
Total670,914563,528
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts593,278658,613
Amounts owed to related parties309,154419,154
Total902,4321,077,767
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)1,0771,557
Total1,0771,557