Ross Martin Properties Limited Filleted Accounts Cover
Ross Martin Properties Limited
Company No. SC130117
Information for Filing with The Registrar
30 September 2024
Ross Martin Properties Limited Balance Sheet Registrar
at
30 September 2024
Company No.
SC130117
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
1,7312,451
Investment property
5
815,000865,000
816,731867,451
Current assets
Debtors
6
1,4521,239
Cash at bank and in hand
28,67912,864
30,13114,103
Creditors: Amount falling due within one year
7
(64,658)
(63,921)
Net current liabilities
(34,527)
(49,818)
Total assets less current liabilities
782,204817,633
Provisions for liabilities
Deferred taxation
(40,100)
(52,737)
Net assets
742,104764,896
Capital and reserves
Called up share capital
100100
Revaluation reserve
9
119,314156,814
Profit and loss account
9
622,690607,982
Total equity
742,104764,896
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 11 October 2024 and signed on its behalf by:
J. Somerville
Director
11 October 2024
Ross Martin Properties Limited Notes to the Accounts Registrar
for the year ended 30 September 2024
1
General information
Ross Martin Properties Limited is a private company limited by shares and incorporated in Scotland.
Its registered number is: SC130117
Its registered office is:
3B Ormiston Terrace
Edinburgh
EH12 7SJ
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover represents the rental income received on the investment properties during the year, adjusted for opening and closing deferred rents in respect of advance rental income.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Furniture, fittings and equipment
25%% Reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
00
4
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
At 1 October 2023
6,8566,856
At 30 September 2024
6,8566,856
Depreciation
At 1 October 2023
4,4054,405
Charge for the year
720720
At 30 September 2024
5,1255,125
Net book values
At 30 September 2024
1,7311,731
At 30 September 2023
2,451
2,451
5
Investment property
Freehold Investment Property
£
Valuation
At 1 October 2023
865,000
Revaluation
(50,000)
At 30 September 2024
815,000
The residential investment properties were revalued by the director at the year end to their open market value.
6
Debtors
2024
2023
£
£
Prepayments and accrued income
1,4521,239
1,4521,239
7
Creditors:
amounts falling due within one year
2024
2023
£
£
Taxes and social security
5,439
5,823
Loans from directors
57,14955,349
Other creditors
481495
Accruals and deferred income
1,5892,254
64,65863,921
8
Share Capital
The company has 100 ordinary £1 shares, issued at par.
9
Reserves
Revaluation Reserve
Total other reserves
£
£
At 1 October 2022
132,909
132,909
Movement on revaluation reserve
45,000
45,000
Deferred taxation
(21,095)
(21,095)
At 30 September 2023 and 1 October 2023
156,814
156,814
Movement on revaluation reserve
(50,000)
(50,000)
Deferred taxation
12,500
12,500
At 30 September 2024
119,314119,314
Revaluation reserve - reflects the revaluation of property other than investment properties.
Profit and loss account - includes all current and prior period retained profits and losses.
10
Dividends
2024
2023
£
£
Dividends for the period:
Dividends paid in the period
8,000
2,000
8,000
2,000
Dividends by type:
Equity dividends
8,0002,000
8,000
2,000
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