Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC685587 2023-02-01 2024-01-31 SC685587 2022-02-01 2023-01-31 SC685587 2024-01-31 SC685587 2023-01-31 SC685587 c:Director1 2023-02-01 2024-01-31 SC685587 c:Director2 2023-02-01 2024-01-31 SC685587 c:RegisteredOffice 2023-02-01 2024-01-31 SC685587 d:FreeholdInvestmentProperty 2023-02-01 2024-01-31 SC685587 d:FreeholdInvestmentProperty 2024-01-31 SC685587 d:FreeholdInvestmentProperty 2023-01-31 SC685587 d:CurrentFinancialInstruments 2024-01-31 SC685587 d:CurrentFinancialInstruments 2023-01-31 SC685587 d:Non-currentFinancialInstruments 2024-01-31 SC685587 d:Non-currentFinancialInstruments 2023-01-31 SC685587 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 SC685587 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 SC685587 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 SC685587 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 SC685587 d:ShareCapital 2024-01-31 SC685587 d:ShareCapital 2023-01-31 SC685587 d:RetainedEarningsAccumulatedLosses 2024-01-31 SC685587 d:RetainedEarningsAccumulatedLosses 2023-01-31 SC685587 c:OrdinaryShareClass1 2023-02-01 2024-01-31 SC685587 c:OrdinaryShareClass1 2024-01-31 SC685587 c:OrdinaryShareClass1 2023-01-31 SC685587 c:OrdinaryShareClass2 2023-02-01 2024-01-31 SC685587 c:OrdinaryShareClass2 2024-01-31 SC685587 c:OrdinaryShareClass2 2023-01-31 SC685587 c:OrdinaryShareClass3 2023-02-01 2024-01-31 SC685587 c:OrdinaryShareClass3 2024-01-31 SC685587 c:OrdinaryShareClass3 2023-01-31 SC685587 c:OrdinaryShareClass4 2023-02-01 2024-01-31 SC685587 c:OrdinaryShareClass4 2024-01-31 SC685587 c:OrdinaryShareClass4 2023-01-31 SC685587 c:OrdinaryShareClass5 2023-02-01 2024-01-31 SC685587 c:OrdinaryShareClass5 2024-01-31 SC685587 c:OrdinaryShareClass5 2023-01-31 SC685587 c:FRS102 2023-02-01 2024-01-31 SC685587 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 SC685587 c:FullAccounts 2023-02-01 2024-01-31 SC685587 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC685587










ELEPHANT STONE PROPERTIES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

 
ELEPHANT STONE PROPERTIES LIMITED
 

COMPANY INFORMATION


Directors
M O Brownlee 
J McClure 




Registered number
SC685587



Registered office
4 Crawford Gait

Kirkliston

EH29 9LB




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
ELEPHANT STONE PROPERTIES LIMITED
REGISTERED NUMBER: SC685587

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
£
£

Fixed assets
  

Investment property
 4 
340,216
189,951

  
340,216
189,951

Current assets
  

Debtors: amounts falling due within one year
 5 
3,382
2,004

Bank and cash balances
  
2,796
2,672

  
6,178
4,676

Creditors: amounts falling due within one year
 6 
(127,880)
(126,700)

Net current liabilities
  
 
 
(121,702)
 
 
(122,024)

Total assets less current liabilities
  
218,514
67,927

Creditors: amounts falling due after more than one year
 7 
(230,238)
(74,482)

  

Net liabilities
  
(11,724)
(6,555)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(11,824)
(6,655)

  
(11,724)
(6,555)


Page 1

 
ELEPHANT STONE PROPERTIES LIMITED
REGISTERED NUMBER: SC685587

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question 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 financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M O Brownlee
Director

Date: 9 October 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ELEPHANT STONE PROPERTIES LIMITED
 

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

1.


General information

Elephant Stone Properties Limited is a private company, limited by shares, incorporated in Scotland with registration number SC685587. The registered office is 4 Crawford Gait, Kirkliston, Scotland, EH29 9LB.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered a period of 12 months from the date of approval of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts and rebates.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ELEPHANT STONE PROPERTIES LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors' and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 4

 
ELEPHANT STONE PROPERTIES LIMITED
 

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

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 February 2023
189,951


Additions at cost
150,265



At 31 January 2024
340,216

The 2024 valuations were made by the directors, on an open market value for existing use basis.






5.


Debtors

2024
2023
£
£


Other debtors
200
-

Prepayments and accrued income
533
465

Deferred taxation
2,649
1,539

3,382
2,004


Page 5

 
ELEPHANT STONE PROPERTIES LIMITED
 

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

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
125,980
124,900

Accruals and deferred income
1,900
1,800

127,880
126,700



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
230,238
74,482

230,238
74,482


Secured Creditors
Other loans falling due more than one year are secured over the property to which they relate.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



38 (2023 - 38) Ordinary A shares of £1.00 each
38
38
38 (2023 - 38) Ordinary B shares of £1.00 each
38
38
8 (2023 - 8) Ordinary C shares of £1.00 each
8
8
8 (2023 - 8) Ordinary D shares of £1.00 each
8
8
8 (2023 - 8) Ordinary E shares of £1.00 each
8
8

100

100



Page 6