IRIS Accounts Production v24.3.0.553 SC447444 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4474442023-04-30SC4474442024-04-30SC4474442023-05-012024-04-30SC4474442022-04-30SC4474442022-05-012023-04-30SC4474442023-04-30SC447444ns15:Scotland2023-05-012024-04-30SC447444ns14:PoundSterling2023-05-012024-04-30SC447444ns10:Director12023-05-012024-04-30SC447444ns10:PrivateLimitedCompanyLtd2023-05-012024-04-30SC447444ns10:SmallEntities2023-05-012024-04-30SC447444ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-30SC447444ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-30SC447444ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-30SC447444ns10:FullAccounts2023-05-012024-04-30SC447444ns10:Director22023-05-012024-04-30SC447444ns10:RegisteredOffice2023-05-012024-04-30SC447444ns5:CurrentFinancialInstruments2024-04-30SC447444ns5:CurrentFinancialInstruments2023-04-30SC447444ns5:ShareCapital2024-04-30SC447444ns5:ShareCapital2023-04-30SC447444ns5:RetainedEarningsAccumulatedLosses2024-04-30SC447444ns5:RetainedEarningsAccumulatedLosses2023-04-30SC447444ns5:PlantMachinery2023-05-012024-04-30SC447444ns5:PlantMachinery2023-04-30SC447444ns5:PlantMachinery2024-04-30SC447444ns5:PlantMachinery2023-04-30SC447444ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-30SC447444ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-30SC447444ns5:CurrentFinancialInstruments2023-05-012024-04-30
REGISTERED NUMBER: SC447444 (Scotland)




















Gourdie Farm Investments Ltd

Unaudited Financial Statements

for the Year Ended 30 April 2024






Gourdie Farm Investments Ltd (Registered number: SC447444)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gourdie Farm Investments Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs M L C T Yu
Mr P C T Yu



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
Lothian
EH3 6AT



REGISTERED NUMBER: SC447444 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Bank of Scotland
Reform Street
PO BOX 17235
Dundee
EH11 1YH



SOLICITORS: Blackadders LLP
34 Reform Street
Dundee, Tayport
Fife
DD1 1RJ

Gourdie Farm Investments Ltd (Registered number: SC447444)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 325 487
Investment property 5 1,240,716 1,240,716
1,241,041 1,241,203

CURRENT ASSETS
Debtors 6 1,194 8,508
Cash at bank 207,700 174,446
208,894 182,954
CREDITORS
Amounts falling due within one year 7 736,188 768,315
NET CURRENT LIABILITIES (527,294 ) (585,361 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

713,747

655,842

PROVISIONS FOR LIABILITIES 81 93
NET ASSETS 713,666 655,749

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 713,466 655,549
SHAREHOLDERS' FUNDS 713,666 655,749

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Gourdie Farm Investments Ltd (Registered number: SC447444)

Balance Sheet - continued
30 April 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





Mr P C T Yu - Director


Gourdie Farm Investments Ltd (Registered number: SC447444)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Gourdie Farm Investments Ltd 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.

Turnover and revenue recognition
Turnover represents the receipt of rent.

Rent is recognised in accordance with the lease agreement. Where there are lease incentives such as rent free periods the rent relating to these incentives is accrued and subsequently released of the full period of the lease agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investment property
Investment properties are shown at their fair value. Any surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.


Gourdie Farm Investments Ltd (Registered number: SC447444)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Gourdie Farm Investments Ltd (Registered number: SC447444)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 1,108
DEPRECIATION
At 1 May 2023 621
Charge for year 162
At 30 April 2024 783
NET BOOK VALUE
At 30 April 2024 325
At 30 April 2023 487

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 1,240,716
NET BOOK VALUE
At 30 April 2024 1,240,716
At 30 April 2023 1,240,716

Investment properties are shown at the directors' estimated valuation as at 30th April 2024. The directors are not professional valuers.

If the investment properties had not been revalued they would have been included at the following historical cost: £1,240,716 (2023 - £1,240,716).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,194 8,508

Gourdie Farm Investments Ltd (Registered number: SC447444)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 22,719 18,145
Other creditors 713,469 750,170
736,188 768,315

Other creditors includes an interest-free loan of £151,587 (2023: £181,753) due to Gourdie Farm Associates Limited, a company which is owned by the directors.

Other creditors also include balances owed to the directors' current accounts of £472,304 (2023: £473,601). These balances are unsecured, interest-free, and repayable on demand.

8. CONTINGENT LIABILITIES

If the company's investment properties were sold at valuation, no capital gains tax liability will arise (NIL: 2023).

9. SECURITY

Bank of Scotland PLC hold standard securities over the properties and a floating charge over the assets of the company.

Bank of Scotland PLC also hold a personal guarantee of £500 from the directors.