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Registration number: SC190265

Strone Estates Ltd.

Filleted Unaudited Financial Statements

for the Period from 1 November 2022 to 31 January 2024

 

Strone Estates Ltd.

(Registration number: SC190265)
Balance Sheet as at 31 January 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

4

1

1

Investment property

5

730,000

730,000

 

730,001

730,001

Current assets

 

Debtors

6,210

-

Cash at bank and in hand

 

3,366

20,029

 

9,576

20,029

Creditors: Amounts falling due within one year

6

(192,312)

(70,809)

Net current liabilities

 

(182,736)

(50,780)

Total assets less current liabilities

 

547,265

679,221

Creditors: Amounts falling due after more than one year

6

(333,536)

(451,857)

Net assets

 

213,729

227,364

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

213,727

227,362

Shareholders' funds

 

213,729

227,364

 

Strone Estates Ltd.

(Registration number: SC190265)
Balance Sheet as at 31 January 2024

For the financial period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 October 2024 and signed on its behalf by:
 


Mr M D Rogalski
Director

   
 

Strone Estates Ltd.

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Bridge of Cally Hotel
Bridge of Cally
Blairgowie
Perthshire
PH10 7JJ
Scotland
 

Registration number: SC190265

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of property in the ordinary course of the company’s activities.

The company recognises revenue when the amount of revenue can be reliably measured, and it is probable that future economic benefits will flow to the entity, and specific criteria have been met for each of the company's activities.

Tax

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Strone Estates Ltd.

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 January 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

15% per annum on written down value

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real
estate determined annually by the director. The director uses observable market prices, adjusted if
necessary for any difference in the nature, location or condition of the specific asset. Changes in fair
value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

Strone Estates Ltd.

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 January 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period was 0 (2022 - 0).

 

Strone Estates Ltd.

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

162,697

162,697

At 31 January 2024

162,697

162,697

Depreciation

At 1 November 2022

162,696

162,696

At 31 January 2024

162,696

162,696

Carrying amount

At 31 January 2024

1

1

At 31 October 2022

1

1

5

Investment properties

2024
£

At 1 November

730,000

At 31 January

730,000

The director has valued the property based on the market value of similar properties in the area.

There has been no valuation of investment property by an independent valuer.

 

Strone Estates Ltd.

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 January 2024

6

Creditors

Note

2024
£

2022
£

Due within one year

 

Loans and borrowings

7

33,850

33,850

Other payables

 

158,462

36,959

 

192,312

70,809

Note

2024
£

2022
£

Due after one year

 

Loans and borrowings

7

266,959

365,280

Other non-current financial liabilities

 

66,577

86,577

 

333,536

451,857

7

Loans and borrowings

2024
£

2022
£

Current loans and borrowings

Bank loans

33,850

33,850

2024
£

2022
£

Non-current loans and borrowings

Bank loans

266,959

365,280

Included in bank loans and borrowings is a loan of £255,000 (2022 - £348,500) which is secured on the assets of the business.

Included in the loans and borrowings are the following amounts due after more than five years by instalments:

Bank loans and overdrafts after five years

Bank loans due after five years: £130,000 (2022 - £223,500)

 

Strone Estates Ltd.

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 31 January 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2