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REGISTERED NUMBER: SC063957 (Scotland)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 January 2024

for

Angusfield Property Company Limited

Angusfield Property Company Limited (Registered number: SC063957)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Angusfield Property Company Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mrs V Harper
P Harper





REGISTERED OFFICE: 17 North Anderson Drive
Aberdeen
Aberdeenshire
AB15 6DZ





REGISTERED NUMBER: SC063957 (Scotland)





ACCOUNTANTS: MacDonald Accountancy Services
11 Margaret Street
Stonehaven
Aberdeenshire
AB39 2AY

Angusfield Property Company Limited (Registered number: SC063957)

Report of the Directors
for the Year Ended 31 January 2024

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

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2023 to the date of this report.

Mrs V Harper
P Harper

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P Harper - Director


16 September 2024

Angusfield Property Company Limited (Registered number: SC063957)

Income Statement
for the Year Ended 31 January 2024

31.1.24 31.1.23
Notes £    £   

TURNOVER 193,394 186,449

Administrative expenses (152,711 ) 95,255
346,105 91,194

Other operating income - 20,068
OPERATING PROFIT 4 346,105 111,262


Interest payable and similar expenses 196,579 133,620
PROFIT/(LOSS) BEFORE TAXATION 149,526 (22,358 )

Tax on profit/(loss) 5,187 -
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

144,339

(22,358

)

Angusfield Property Company Limited (Registered number: SC063957)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 20,656 26,609
Investment property 6 4,451,000 4,935,000
4,471,656 4,961,609

CURRENT ASSETS
Debtors 7 295,875 281,546
Cash at bank 16,119 20,977
311,994 302,523
CREDITORS
Amounts falling due within one year 8 359,858 354,949
NET CURRENT LIABILITIES (47,864 ) (52,426 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,423,792

4,909,183

CREDITORS
Amounts falling due after more than one
year

9

2,099,628

2,403,360
NET ASSETS 2,324,164 2,505,823

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 11 1,176,953 1,502,953
Retained earnings 1,147,111 1,002,770
SHAREHOLDERS' FUNDS 2,324,164 2,505,823

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

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

Angusfield Property Company Limited (Registered number: SC063957)

Balance Sheet - continued
31 January 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





P Harper - Director


Angusfield Property Company Limited (Registered number: SC063957)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Angusfield Property Company 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Angusfield Property Company Limited (Registered number: SC063957)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. OPERATING PROFIT

The operating profit is stated after charging:

31.1.24 31.1.23
£    £   
Depreciation - owned assets 7,016 6,625

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023 275,634 834 276,468
Additions - 1,458 1,458
Disposals - (395 ) (395 )
At 31 January 2024 275,634 1,897 277,531
DEPRECIATION
At 1 February 2023 249,714 145 249,859
Charge for year 6,480 536 7,016
At 31 January 2024 256,194 681 256,875
NET BOOK VALUE
At 31 January 2024 19,440 1,216 20,656
At 31 January 2023 25,920 689 26,609

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 4,935,000
Disposals (400,000 )
Revaluations (84,000 )
At 31 January 2024 4,451,000
NET BOOK VALUE
At 31 January 2024 4,451,000
At 31 January 2023 4,935,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2023 4,935,000
Valuation in 2024 (484,000 )
4,451,000

Angusfield Property Company Limited (Registered number: SC063957)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 2,670 -
Other debtors 293,205 281,546
295,875 281,546

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 2,479 5,043
Taxation and social security 7,422 1,240
Other creditors 349,957 348,666
359,858 354,949

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 2,099,628 2,403,360

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 2,099,628 2,403,360

11. RESERVES
Revaluation
reserve
£   
At 1 February 2023 1,502,953
Revaluation in year (84,000 )
Disposal of property (242,000 )

At 31 January 2024 1,176,953