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REGISTERED NUMBER: SC565252 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

FOSTERS PROPERTY LTD

FOSTERS PROPERTY LTD (REGISTERED NUMBER: SC565252)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOSTERS PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: A J T Foster





REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC565252 (Scotland)





ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

FOSTERS PROPERTY LTD (REGISTERED NUMBER: SC565252)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,539 64,459
Investment property 5 3,950,000 3,870,000
3,997,539 3,934,459

CURRENT ASSETS
Debtors 6 4,165 3,819
Cash at bank 2,487 5,090
6,652 8,909
CREDITORS
Amounts falling due within one year 7 2,857,954 2,920,754
NET CURRENT LIABILITIES (2,851,302 ) (2,911,845 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,146,237

1,022,614

PROVISIONS FOR LIABILITIES 144,173 15,324
NET ASSETS 1,002,064 1,007,290

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,002,063 1,007,289
SHAREHOLDERS' FUNDS 1,002,064 1,007,290

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FOSTERS PROPERTY LTD (REGISTERED NUMBER: SC565252)

BALANCE SHEET - continued
30 SEPTEMBER 2023


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 director and authorised for issue on 30 June 2024 and were signed by:





A J T Foster - Director


FOSTERS PROPERTY LTD (REGISTERED NUMBER: SC565252)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Fosters Property Ltd 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on a straight line basis, 25% on a reducing balance basis and 25% on a straight line basis

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

FOSTERS PROPERTY LTD (REGISTERED NUMBER: SC565252)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 149,462
Additions 7,995
At 30 September 2023 157,457
DEPRECIATION
At 1 October 2022 85,003
Charge for year 24,915
At 30 September 2023 109,918
NET BOOK VALUE
At 30 September 2023 47,539
At 30 September 2022 64,459

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 3,870,000
Additions 73,347
Revaluations 6,653
At 30 September 2023 3,950,000
NET BOOK VALUE
At 30 September 2023 3,950,000
At 30 September 2022 3,870,000


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 4,165 3,819

FOSTERS PROPERTY LTD (REGISTERED NUMBER: SC565252)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 38,648 62,858
Other creditors 2,819,306 2,857,896
2,857,954 2,920,754