Silverfin false false 31/12/2023 01/01/2023 31/12/2023 T Cassidy 01/12/2011 24 September 2024 The principal activity of the Company during the financial year was that of being a partner in the partnerships of Esk Property LLP and Esk Property (Cambridge) LLP. SC412397 2023-12-31 SC412397 bus:Director1 2023-12-31 SC412397 2022-12-31 SC412397 core:CurrentFinancialInstruments 2023-12-31 SC412397 core:CurrentFinancialInstruments 2022-12-31 SC412397 core:ShareCapital 2023-12-31 SC412397 core:ShareCapital 2022-12-31 SC412397 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC412397 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC412397 core:CostValuation 2022-12-31 SC412397 core:AdditionsToInvestments 2023-12-31 SC412397 core:FurtherSpecificIncreaseDecreaseInInvestments2ComponentTotalChangeInInvestments 2023-12-31 SC412397 core:CostValuation 2023-12-31 SC412397 bus:OrdinaryShareClass1 2023-12-31 SC412397 2023-01-01 2023-12-31 SC412397 bus:FilletedAccounts 2023-01-01 2023-12-31 SC412397 bus:SmallEntities 2023-01-01 2023-12-31 SC412397 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC412397 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC412397 bus:Director1 2023-01-01 2023-12-31 SC412397 2022-01-01 2022-12-31 SC412397 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC412397 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC412397 (Scotland)

MICHIGAN PROPERTY (HAMILTON) LIMITED

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

MICHIGAN PROPERTY (HAMILTON) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

MICHIGAN PROPERTY (HAMILTON) LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
MICHIGAN PROPERTY (HAMILTON) LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 251,303 268,796
251,303 268,796
Current assets
Cash at bank and in hand 2,408 7,639
2,408 7,639
Creditors: amounts falling due within one year 4 ( 217,275) ( 231,518)
Net current liabilities (214,867) (223,879)
Total assets less current liabilities 36,436 44,917
Net assets 36,436 44,917
Capital and reserves
Called-up share capital 5 1 1
Profit and loss account 36,435 44,916
Total shareholder's funds 36,436 44,917

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.

Director's responsibilities:

The financial statements of Michigan Property (Hamilton) Limited (registered number: SC412397) were approved and authorised for issue by the Director on 24 September 2024. They were signed on its behalf by:

T Cassidy
Director
MICHIGAN PROPERTY (HAMILTON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
MICHIGAN PROPERTY (HAMILTON) LIMITED

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

Michigan Property (Hamilton) 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 12 Hope Street, Edinburgh, EH2 4DB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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 represents the company's share of the profits and losses of Esk Property LLP.

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.

Fixed asset investments

Investments in limited liability partnerships are stated at cost plus profits allocated less drawings.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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 fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Fixed asset investments

Investments in associates Total
£ £
Cost or valuation before impairment
At 01 January 2023 268,796 268,796
Additions 220,000 220,000
Share of loss ( 6,243) ( 6,243)
Drawings (231,250) (231,250)
At 31 December 2023 251,303 251,303
Carrying value at 31 December 2023 251,303 251,303
Carrying value at 31 December 2022 268,796 268,796

4. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 0 9,742
Other creditors 217,275 221,776
217,275 231,518

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

6. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amounts due to key management personnel 214,876 219,876