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REGISTERED NUMBER: SC583156 (Scotland)





















Unaudited Financial Statements

For The Year Ended 31 March 2024

for

Real Property Scotland Limited

Real Property Scotland Limited (Registered number: SC583156)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Real Property Scotland Limited

Company Information
For The Year Ended 31 March 2024







DIRECTORS: L Duncan
A Robertson
C Tracey





REGISTERED OFFICE: REWD GROUP HQ
Unit 4 Barons Court
Grangemouth
FK3 8BH





REGISTERED NUMBER: SC583156 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

Real Property Scotland Limited (Registered number: SC583156)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 3,534
Tangible assets 5 105,152 56,665
105,152 60,199

CURRENT ASSETS
Debtors 6 975,626 84,038
Cash at bank and in hand 63,705 57,016
1,039,331 141,054
CREDITORS
Amounts falling due within one year 7 755,741 171,873
NET CURRENT ASSETS/(LIABILITIES) 283,590 (30,819 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

388,742

29,380

CREDITORS
Amounts falling due after more than one
year

8

(270,890

)

(8,859

)

PROVISIONS FOR LIABILITIES 9 (12,338 ) (2,590 )
NET ASSETS 105,514 17,931

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 105,414 17,831
105,514 17,931

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.

Real Property Scotland Limited (Registered number: SC583156)

Balance Sheet - 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.

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 23 September 2024 and were signed on its behalf by:





L Duncan - Director


Real Property Scotland Limited (Registered number: SC583156)

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

1. STATUTORY INFORMATION

Real Property Scotland Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - in accordance with the property
Plant and machinery - 20% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 50% on cost, 33% on cost and 15% on reducing balance
Computer equipment - 33% on cost

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.

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.


Real Property Scotland Limited (Registered number: SC583156)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
These accounts have been prepared on the going concern basis, on the understanding that the director will continue to financially support the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 10,393
AMORTISATION
At 1 April 2023 6,859
Charge for year 3,534
At 31 March 2024 10,393
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 3,534

Real Property Scotland Limited (Registered number: SC583156)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 49,895 1,148 8,567
Additions - 504 906
At 31 March 2024 49,895 1,652 9,473
DEPRECIATION
At 1 April 2023 5,544 413 1,970
Charge for year 5,544 330 1,125
At 31 March 2024 11,088 743 3,095
NET BOOK VALUE
At 31 March 2024 38,807 909 6,378
At 31 March 2023 44,351 735 6,597

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 - 9,902 69,512
Additions 83,308 5,456 90,174
At 31 March 2024 83,308 15,358 159,686
DEPRECIATION
At 1 April 2023 - 4,920 12,847
Charge for year 29,620 5,068 41,687
At 31 March 2024 29,620 9,988 54,534
NET BOOK VALUE
At 31 March 2024 53,688 5,370 105,152
At 31 March 2023 - 4,982 56,665

Real Property Scotland Limited (Registered number: SC583156)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Motor
vehicles
£   
COST
Additions 79,808
At 31 March 2024 79,808
DEPRECIATION
Charge for year 29,095
At 31 March 2024 29,095
NET BOOK VALUE
At 31 March 2024 50,713

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 123,119 18,519
Other debtors 852,507 65,519
975,626 84,038

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 105,894 1,315
Hire purchase contracts and finance leases 29,205 250
Trade creditors 49,523 3,512
Taxation and social security 186,808 23,164
Other creditors 384,311 143,632
755,741 171,873

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 240,831 8,859
Hire purchase contracts and finance leases 30,059 -
270,890 8,859

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 12,338 2,590

Real Property Scotland Limited (Registered number: SC583156)

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

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 2,590
Provided during year 9,748
Balance at 31 March 2024 12,338

10. RELATED PARTY DISCLOSURES

As at 31/03/2024, Real Property Scotland Ltd was owed £100,238 by REWD Developments Ltd. These companies have directors in common. This loan is interest free and has no fixed repayment terms.
As at 31/03/2024, Real Property Scotland Ltd was owed £4,500 by REWD LPB Ltd. These companies have directors in common. This loan is interest free and has no fixed repayment terms.
As at 31/03/2024, Real Property Scotland Ltd was owed £34,879 by AWR Property Ltd. These companies have directors in common. This loan is interest free and has no fixed repayment terms.
As at 31/03/2024, Real Property Scotland Ltd was owed £6,250 by REWD RESI 1 Ltd. These companies have directors in common. This loan is interest free and has no fixed repayment terms.
As at 31/03/2024, Real Property Scotland Ltd was owed £51,760 by REWD Black Loch Ltd. These companies have directors in common. This loan is interest free and has no fixed repayment terms.
As at 31/03/2024, Real Property Scotland Ltd was owed £610,435 by Real Estate Wealth Development Holdings Ltd. These companies have directors in common. This loan is interest free and has no fixed repayment terms.
As at 31/03/2024, Real Property Scotland Ltd was owed £11,582 by REWD 66 Ltd. These companies have directors in common. This loan is interest free and has no fixed repayment terms.
As at 31/03/2024, Real Property Scotland Ltd was owed £23,891 by Real Estate Wealth Development Ltd. These companies have directors in common. This loan is interest free and has no fixed repayment terms.
As at 31/03/2024, Real Property Scotland Ltd owed £534 to REWD Alliance Ltd. These companies have directors in common. This loan is interest free and has no fixed repayment terms.
As at 31/03/2024, Real Property Scotland Ltd owed £6,343 to Emandel Properties Ltd. These companies have directors in common. This loan is interest free and has no fixed repayment terms.
As at 31/03/2024, Real Property Scotland Ltd owed £150,000 to REWD Trading Holdings Ltd. These companies have directors in common. This loan is interest free and has no fixed repayment terms.
As at 31/03/2024, Real Property Scotland Ltd owed £12,000 to REWD Manors Ltd. These companies have directors in common. This loan is interest free and has no fixed repayment terms.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Real Property Scotland Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Real Property Scotland Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Real Property Scotland Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Real Property Scotland Limited and state those matters that we have agreed to state to the Board of Directors of Real Property Scotland Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Real Property Scotland Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Real Property Scotland Limited. You consider that Real Property Scotland Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Real Property Scotland Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH


23 September 2024