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REGISTERED NUMBER: SC281200 (Scotland)















Financial Statements For The Year Ended 31 December 2023

for

Gartverrie (Silos) Limited

Gartverrie (Silos) Limited (Registered number: SC281200)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Gartverrie (Silos) Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: D W Stirling
A W Stirling



REGISTERED OFFICE: c/o Robb Ferguson
Regent Court
70 West Regent Street
Glasgow
G2 2QZ



REGISTERED NUMBER: SC281200 (Scotland)



ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ



SOLICITORS: Miller Beckett & Jackson
190 St Vincent Street
Glasgow
G2 5SP

Gartverrie (Silos) Limited (Registered number: SC281200)

Abridged Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,897 15,862
Investment property 5 2,590,560 2,590,560
2,602,457 2,606,422

CURRENT ASSETS
Debtors 370,557 74,436
Cash at bank 70,349 70,313
440,906 144,749
CREDITORS
Amounts falling due within one year 146,471 362,391
NET CURRENT ASSETS/(LIABILITIES) 294,435 (217,642 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,896,892

2,388,780

CREDITORS
Amounts falling due after more than one
year

(1,039,627

)

(499,646

)

PROVISIONS FOR LIABILITIES (206,472 ) (203,165 )
NET ASSETS 1,650,793 1,685,969

CAPITAL AND RESERVES
Called up share capital 1,500 1,500
Retained earnings 1,649,293 1,684,469
SHAREHOLDERS' FUNDS 1,650,793 1,685,969

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Gartverrie (Silos) Limited (Registered number: SC281200)

Abridged Statement of Financial Position - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





A W Stirling - Director


Gartverrie (Silos) Limited (Registered number: SC281200)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Gartverrie (Silos) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes 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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Current or deferred taxation assets and liabilities are not discounted.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Rental income
Rental income represents net invoiced rental and service charges receivable from letting of the cement silos distribution facility.

Gartverrie (Silos) Limited (Registered number: SC281200)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 70,213
DEPRECIATION
At 1 January 2023 54,351
Charge for year 3,965
At 31 December 2023 58,316
NET BOOK VALUE
At 31 December 2023 11,897
At 31 December 2022 15,862

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 2,590,560
NET BOOK VALUE
At 31 December 2023 2,590,560
At 31 December 2022 2,590,560

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,039,627 499,646

Reward Finance Group Limited hold a standard security over the company's land and buildings, and a floating charge over the assets of the company.