ALTAIR PROPERTY LTD

Company Registration Number:
SC719432 (Scotland)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 1 February 2023

End date: 31 January 2024

ALTAIR PROPERTY LTD

Contents of the Financial Statements

for the Period Ended 31 January 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes

ALTAIR PROPERTY LTD

Directors' report period ended 31 January 2024

The directors present their report with the financial statements of the company for the period ended 31 January 2024

Principal activities of the company

Property Investment Company



Directors

The directors shown below have held office during the whole of the period from
1 February 2023 to 31 January 2024

M Forbes
P Forbes


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
24 October 2024

And signed on behalf of the board by:
Name: P Forbes
Status: Director

ALTAIR PROPERTY LTD

Balance sheet

As at 31 January 2024

Notes 2024 13 months to 31 January 2023


£

£
Fixed assets
Investments: 3 1,166,562 1,166,562
Total fixed assets: 1,166,562 1,166,562
Current assets
Debtors: 4 1,700 1,700
Cash at bank and in hand: 10,226 10,767
Total current assets: 11,926 12,467
Creditors: amounts falling due within one year: 5 ( 412,223 ) ( 408,025 )
Net current assets (liabilities): (400,297) (395,558)
Total assets less current liabilities: 766,265 771,004
Creditors: amounts falling due after more than one year: 6 ( 826,750 ) ( 826,750 )
Total net assets (liabilities): (60,485) (55,746)
Capital and reserves
Called up share capital: 200 200
Profit and loss account: (60,685 ) (55,946 )
Total Shareholders' funds: ( 60,485 ) (55,746)

The notes form part of these financial statements

ALTAIR PROPERTY LTD

Balance sheet statements

For the year ending 31 January 2024 the company was entitled to exemption 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 Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 24 October 2024
and signed on behalf of the board by:

Name: P Forbes
Status: Director

The notes form part of these financial statements

ALTAIR PROPERTY LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services supplied.

    Other accounting policies

    Going concern After reviewing the forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing it financial statements. Corporation Tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

ALTAIR PROPERTY LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024 13 months to 31 January 2023
    Average number of employees during the period 2 2

ALTAIR PROPERTY LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Fixed assets investments note

Investment property comprises of a commercial building and land available for rent. The fair value of the investment property has been arrived at on the basis of an internal valuation undertaken by the Directors at 31 January 2024 and based on the current market values of similar assets in the area of the company Investments. The Directors deem that the fair value of the assets is £1,166,562. If investment properties were stated on a historical cost basis rather than a fair value basis, the amounts would have been included at £1,166,562.

ALTAIR PROPERTY LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Debtors

2024 13 months to 31 January 2023
£ £
Other debtors 1,700 1,700
Total 1,700 1,700

ALTAIR PROPERTY LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Creditors: amounts falling due within one year note

2024 13 months to 31 January 2023
£ £
Bank loans and overdrafts 3,137 6,681
Accruals and deferred income 900 900
Other creditors 408,186 400,444
Total 412,223 408,025

ALTAIR PROPERTY LTD

Notes to the Financial Statements

for the Period Ended 31 January 2024

6. Creditors: amounts falling due after more than one year note

2024 13 months to 31 January 2023
£ £
Bank loans and overdrafts 826,750 826,750
Total 826,750 826,750