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Company No: SC428401 (Scotland)

VRACKIE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

VRACKIE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 MARCH 2024

Contents

VRACKIE PROPERTIES LIMITED

BALANCE SHEET

AS AT 30 MARCH 2024
VRACKIE PROPERTIES LIMITED

BALANCE SHEET (continued)

AS AT 30 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 5 5
5 5
Current assets
Debtors 4 80,570 80,000
Cash at bank and in hand 146,570 150,980
227,140 230,980
Creditors: amounts falling due within one year 5 ( 2,855) ( 3,955)
Net current assets 224,285 227,025
Total assets less current liabilities 224,290 227,030
Net assets 224,290 227,030
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 224,190 226,930
Total shareholders' funds 224,290 227,030

For the financial year ending 30 March 2024 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 Vrackie Properties Limited (registered number: SC428401) were approved and authorised for issue by the Board of Directors on 10 September 2024. They were signed on its behalf by:

D Sands
Director
VRACKIE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 MARCH 2024
VRACKIE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 MARCH 2024
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

Vrackie Properties Limited (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 C/O Turcan Connell Princes Exchange, 1 Earl Grey Street, Edinburgh, EH3 9EE, United Kingdom.

The financial statements have been prepared under the historical cost convention 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 £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

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.

Fixed asset investments

Investments are recognised initially at historic cost which is normally the transaction price excluding transaction costs. Subsequently, they are measured at historic cost through profit or loss if the shares are publicly traded. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

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.

Basic financial liabilities
Basic financial liabilities including creditors 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.

Equity instruments
Equity instruments issued by the Company are recorded at the historic cost of cash or other resources received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including unpaid directors 2 2

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 31 March 2023 5
At 30 March 2024 5
Carrying value at 30 March 2024 5
Carrying value at 30 March 2023 5

4. Debtors

2024 2023
£ £
VAT recoverable 570 0
Other debtors 80,000 80,000
80,570 80,000

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 0 1,500
Accruals 2,450 2,450
Other creditors 405 5
2,855 3,955

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
65 Ordinary A shares of £ 1.00 each 65 65
25 Ordinary B shares of £ 1.00 each 25 25
10 Ordinary C shares of £ 1.00 each 10 10
100 100

7. Securities

The company has granted a standard security in favour of D Sands and D L Sands.