STONEYBRAE PROPERTIES LIMITED

Company Registration Number:
SC432645 (Scotland)

Unaudited abridged accounts for the year ended 30 September 2024

Period of accounts

Start date: 01 October 2023

End date: 30 September 2024

STONEYBRAE PROPERTIES LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2024

Balance sheet
Notes

STONEYBRAE PROPERTIES LIMITED

Balance sheet

As at 30 September 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 3,592,745 3,592,745
Total fixed assets: 3,592,745 3,592,745
Current assets
Debtors:   1,710 1,575
Cash at bank and in hand: 15,433 15,136
Total current assets: 17,143 16,711
Creditors: amounts falling due within one year:   (568,624) (796,639)
Net current assets (liabilities): (551,481) (779,928)
Total assets less current liabilities: 3,041,264 2,812,817
Provision for liabilities: (236,558) (236,558)
Total net assets (liabilities): 2,804,706 2,576,259
Capital and reserves
Called up share capital: 200 200
Profit and loss account: 2,804,506 2,576,059
Shareholders funds: 2,804,706 2,576,259

The notes form part of these financial statements

STONEYBRAE PROPERTIES LIMITED

Balance sheet statements

For the year ending 30 September 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

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

This report was approved by the board of directors on 12 November 2024
and signed on behalf of the board by:

Name: Mr G Bell
Status: Director

The notes form part of these financial statements

STONEYBRAE PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

1. Accounting policies

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

Turnover policy

Turnover represents rentals received net of VAT.

Tangible fixed assets and depreciation policy

Tangible Assets Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. Investment Property Investment properties are shown in the balance sheet at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view. Impairment of Fixed Assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Other accounting policies

Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Provisions Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

STONEYBRAE PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

2. Employees

2024 2023
Average number of employees during the period 0 0

STONEYBRAE PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible Assets

Total
Cost £
At 01 October 2023 3,592,745
At 30 September 2024 3,592,745
Net book value
At 30 September 2024 3,592,745
At 30 September 2023 3,592,745

STONEYBRAE PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Loans to directors

Name of director receiving advance or credit: Mr G Bell
Description of the loan: .
£
Balance at 01 October 2023 332,750
Advances or credits repaid: 118,750
Balance at 30 September 2024 214,000
Name of director receiving advance or credit: Mr C McBay
Description of the loan: .
£
Balance at 01 October 2023 332,750
Advances or credits repaid: 118,750
Balance at 30 September 2024 214,000