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REGISTERED NUMBER: SC395333 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

HENDRY PROPERTIES LTD

HENDRY PROPERTIES LTD (REGISTERED NUMBER: SC395333)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HENDRY PROPERTIES LTD

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: D O Muldoon



REGISTERED OFFICE: 10
Hendry Crescent
Kirkaldy
Fife
KY2 5UA



REGISTERED NUMBER: SC395333 (Scotland)



ACCOUNTANTS: Mitchell Edwards
Chartered Certified Accountants
24A Ainslie Place
Edinburgh
EH3 6AJ



BANKERS: Bank of Scotland
95 Clerk Street
Loanhead
Edinburgh
EH20 9RE

HENDRY PROPERTIES LTD (REGISTERED NUMBER: SC395333)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 260,000 250,000

CURRENT ASSETS
Debtors 5 2,000 900
Cash at bank 2,293 1,502
4,293 2,402
CREDITORS
Amounts falling due within one year 6 105,941 105,907
NET CURRENT LIABILITIES (101,648 ) (103,505 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,352

146,495

CREDITORS
Amounts falling due after more than one year 7 (71,313 ) (69,219 )

PROVISIONS FOR LIABILITIES (16,416 ) (13,875 )
NET ASSETS 70,623 63,401

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 86,933 79,433
Retained earnings (16,410 ) (16,132 )
SHAREHOLDERS' FUNDS 70,623 63,401

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

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

The financial statements were approved by the director and authorised for issue on 23 September 2024 and were signed by:





D O Muldoon - Director


HENDRY PROPERTIES LTD (REGISTERED NUMBER: SC395333)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Hendry Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£), rounded to the nearest £.

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.

Turnover
Turnover represents the total of rent due to the company for the rental of property.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement. Fair value gains and losses net of deferred tax are transferred to the Fair Value Reserve.

Financial instruments
Bank and other loans are shown at amortised cost, with interest and up front charges in connection with the loans being allocated to accounting periods by applying the effective interest rate method.

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 material 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 1 (2023 - 1 ) .

HENDRY PROPERTIES LTD (REGISTERED NUMBER: SC395333)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 250,000
Revaluations 10,000
At 31 March 2024 260,000
NET BOOK VALUE
At 31 March 2024 260,000
At 31 March 2023 250,000

The directors opinion of the fair value of investment property at 31 March 2024 was £260,000 (2023: £250,000). The directors opinion has been arrived at after reviewing property transactions in the location and category of the investment property being valued.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2017 7,643
Valuation in 2018 9,000
Valuation in 2020 8,500
Valuation in 2023 71,500
Valuation in 2024 10,000
Cost 153,357
260,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 153,357 153,357

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,000 900

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,341 4,391
Other creditors 104,600 101,516
105,941 105,907

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 71,313 69,219

Bank loans outstanding at the year end include instalments due after more than five years of £66,339 (2023: £46,301).

HENDRY PROPERTIES LTD (REGISTERED NUMBER: SC395333)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 71,454 71,930

The Bank of Scotland holds standard security over the Investment properties together with the assignation of a life assurance policy for £104,000 over the life of the Director.

The business term loan is subject to interest at a rate of 8.31% over base and has a repayment date of 31 July 2036.

9. BOUNCE BACK LOAN SCHEME

The company has borrowed £2,400 under the Governments Bounce Back Loan Scheme. Under the scheme the Government provides the bank with a guarantee that the loan will be repaid in full. Interest is charged at the rate of 2.5% and the loan is repayable by installments as detailed below.



2024 2023
£    £   
< 1 year 480 480
2-5 years 720 1,200
> 5 years - -
1,200 1,680