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REGISTERED NUMBER: SC336681 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

ACF PROPERTIES LIMITED

ACF PROPERTIES LIMITED (REGISTERED NUMBER: SC336681)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


ACF PROPERTIES LIMITED (REGISTERED NUMBER: SC336681)

BALANCE SHEET
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 416,277 416,295

CURRENT ASSETS
Debtors 5 35,103 34,883
Cash at bank 3,225 21,453
38,328 56,336
CREDITORS
Amounts falling due within one year 6 88,241 107,029
NET CURRENT LIABILITIES (49,913 ) (50,693 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

366,364

365,602

CREDITORS
Amounts falling due after more than one
year

7

(169,467

)

(189,673

)

PROVISIONS FOR LIABILITIES (19,032 ) (19,032 )
NET ASSETS 177,865 156,897

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 9 100,000 100,000
Retained earnings 77,864 56,896
SHAREHOLDERS' FUNDS 177,865 156,897

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

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.

ACF PROPERTIES LIMITED (REGISTERED NUMBER: SC336681)

BALANCE SHEET - continued
31 January 2024



The financial statements were approved by the director and authorised for issue on 26 September 2024 and were signed by:





A C Forbes - Director


ACF PROPERTIES LIMITED (REGISTERED NUMBER: SC336681)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

ACF Properties Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC336681

Registered office: Unit 5 Commercial Centre
Stirling Enterprise Park
Stirling
FK7 7BF

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 and revenue recognition
Turnover represents rental income. Revenue is recognised when services are provided to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

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 NIL (2023 - NIL).

ACF PROPERTIES LIMITED (REGISTERED NUMBER: SC336681)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 416,224 3,954 420,178
DEPRECIATION
At 1 February 2023 - 3,883 3,883
Charge for year - 18 18
At 31 January 2024 - 3,901 3,901
NET BOOK VALUE
At 31 January 2024 416,224 53 416,277
At 31 January 2023 416,224 71 416,295

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 34,883 34,883
VAT 220 -
35,103 34,883

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 19,793 16,893
Mortgage 9,629 8,203
Tax 5,704 4,804
VAT - 614
Other creditors 2,045 2,045
Directors' current accounts 9,197 22,216
Accrued expenses 41,873 52,254
88,241 107,029

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 2-5 years 108,434 121,578
Mortgage - 2-5 years 61,033 68,095
169,467 189,673

ACF PROPERTIES LIMITED (REGISTERED NUMBER: SC336681)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Mortgage 70,662 76,298

The mortgages are secured over the relevant properties.

9. RESERVES
Fair
value
reserve
£   
At 1 February 2023
and 31 January 2024 100,000

10. RELATED PARTY DISCLOSURES

ACF Cleaning Ltd

A company in which A C Forbes is a Director and shareholder.

Amount due from ACF Cleaning Ltd at the balance sheet date: £32,837.96 (2023: £32,837.96)

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A C Forbes.