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REGISTERED NUMBER: SC287102 (Scotland)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

UGIE INVESTMENTS LIMITED

UGIE INVESTMENTS LIMITED (REGISTERED NUMBER: SC287102)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


UGIE INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr J G S Strachan
Mrs S Strachan
Mrs M Patrick
Mr B Strachan
Mrs N Homewood



SECRETARY: Masson Glennie LLP



REGISTERED OFFICE: Broad House
Broad Street
Peterhead
Aberdeenshire
AB42 1HY



REGISTERED NUMBER: SC287102 (Scotland)



ACCOUNTANTS: Bain Henry Reid
28 Broad Street
Peterhead
Aberdeenshire
AB42 1BY



BANKERS: Santander Business Banking
Bridle Road
Bootle
Liverpool
L30 4GB



SOLICITORS: Masson Glennie LLP
Broad House
Broad Street
Peterhead
Aberdeenshire
AB42 1HY

UGIE INVESTMENTS LIMITED (REGISTERED NUMBER: SC287102)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 358,375 165,801
Investment property 5 3,680,000 3,755,000
4,038,375 3,920,801

CURRENT ASSETS
Debtors 6 1,389,175 1,389,528
Investments 7 - 1,839,804
Cash at bank 5,643,104 3,203,327
7,032,279 6,432,659
CREDITORS
Amounts falling due within one year 8 841,973 367,790
NET CURRENT ASSETS 6,190,306 6,064,869
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,228,681

9,985,670

PROVISIONS FOR LIABILITIES - 216,732
NET ASSETS 10,228,681 9,768,938

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 9 10,228,680 9,768,937
SHAREHOLDERS' FUNDS 10,228,681 9,768,938

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 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.

UGIE INVESTMENTS LIMITED (REGISTERED NUMBER: SC287102)

BALANCE SHEET - continued
31 MARCH 2024


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 Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by:





Mr J G S Strachan - Director


UGIE INVESTMENTS LIMITED (REGISTERED NUMBER: SC287102)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Ugie Investments 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.

Turnover represents net invoiced rents and crop sales.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets, other than agricultural land, over their estimated useful life or, if held under a finance lease, over the term of the lease, whichever is the shorter. The rates applicable are:

Motor vehicles- 20% on cost
Plant and equipment- 20% straight line

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Investment property
Investment property is carried at fair value. Fair value gains and losses are recognised in the income statement. Deferred taxation is provided on gains at the rate expected to apply when the property is sold and on losses where these losses are expected to reverse in the future.

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.


UGIE INVESTMENTS LIMITED (REGISTERED NUMBER: SC287102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Going concern
At the time of approving the financial statements the director has a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future, and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Land & Plant and Motor
buildings machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 - 32,110 256,231 288,341
Additions 181,700 - 89,000 270,700
Disposals - - (70,138 ) (70,138 )
At 31 March 2024 181,700 32,110 275,093 488,903
DEPRECIATION
At 1 April 2023 - 24,618 97,922 122,540
Charge for year - 6,422 49,494 55,916
Eliminated on disposal - - (47,928 ) (47,928 )
At 31 March 2024 - 31,040 99,488 130,528
NET BOOK VALUE
At 31 March 2024 181,700 1,070 175,605 358,375
At 31 March 2023 - 7,492 158,309 165,801

UGIE INVESTMENTS LIMITED (REGISTERED NUMBER: SC287102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 70,138
Disposals (70,138 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 36,238
Charge for year 11,690
Eliminated on disposal (47,928 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 33,900

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 3,755,000
Disposals (75,000 )
At 31 March 2024 3,680,000
NET BOOK VALUE
At 31 March 2024 3,680,000
At 31 March 2023 3,755,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 3,149
Amounts owed by related parties 1,313,304 1,313,304
Other debtors 1,075 1,075
Prepayments and accrued income 74,796 72,000
1,389,175 1,389,528

UGIE INVESTMENTS LIMITED (REGISTERED NUMBER: SC287102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CURRENT ASSET INVESTMENTS

2024 2023
£    £   
Valuation
At 1 April 2023 1,839,804 1,485,345
Additions - -
Disposals (1,839,804 ) -
Movement in fair value - 354,459
At 31 March 2024 - 1,839,804

Current asset investments are quoted investments measured at fair value through profit or loss. The quoted market price amounted to £0 (2023: £1,839,804).

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 6,356
Trade creditors 83,480 61,455
Amounts owed to related parties - 8,446
Taxation 574,311 99,001
Social security and other taxes 93,822 97,242
VAT 44,635 48,107
Other creditors 12,526 13,435
Accruals and deferred income 33,199 33,748
841,973 367,790

9. RESERVES
Retained
earnings
£   

At 1 April 2023 9,768,937
Profit for the year 459,743
At 31 March 2024 10,228,680

UGIE INVESTMENTS LIMITED (REGISTERED NUMBER: SC287102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. RELATED PARTY DISCLOSURES

Loans
Included in debtors is a loan to Caley Cold Store Limited, a company in which Mr James G S Strachan has a material interest. The loan is interest free and has no fixed terms of repayment.
Details of loan account transactions and period end balance are as follows:

Caley Cold Store Limited 2024 2023

At 31st March 2023 1,313,304 1,313,304
Advanced during period - -
Repaid during period - -
At 31st March 2024 1,313,304 1,313,304

Included in creditors is a loan to Ugie Farms Limited, a company in which Mr James G S Strachan has a material interest. The loan is interest free and has no fixed terms of repayment.
Details of loan account transactions and period end balance are as follows:

Ugie Farms Limited 2024 2023

At 31st March 2023 8,446 9,683
Advanced during period - -
Repaid during period (8,446 ) (1,237 )
At 31st March 2024 - 8,446


11. ULTIMATE CONTROLLING PARTY

Mr James G S Strachan, a director, controls the company by virtue of an interest of 86.1% of the issued ordinary share capital of Ugie Properties (Holdings) Limited, the ultimate parent company.