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REGISTERED NUMBER: SC164623 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Redan Property Investments Limited

Redan Property Investments Limited (Registered number: SC164623)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Redan Property Investments Limited (Registered number: SC164623)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Investments 4 1,000 1,000
Investment property 5 13,375,283 13,595,283
13,376,283 13,596,283

CURRENT ASSETS
Debtors 6 899,686 1,137,269
Cash at bank 130,081 74,457
1,029,767 1,211,726
CREDITORS
Amounts falling due within one year 7 (576,826 ) (1,499,139 )
NET CURRENT ASSETS/(LIABILITIES) 452,941 (287,413 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,829,224

13,308,870

CREDITORS
Amounts falling due after more than one
year

8

(3,648,107

)

(3,258,473

)
NET ASSETS 10,181,117 10,050,397

CAPITAL AND RESERVES
Called up share capital 66 66
Retained earnings 10,181,051 10,050,331
10,181,117 10,050,397

Redan Property Investments Limited (Registered number: SC164623)

Balance Sheet - continued
30 June 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 30 September 2024 and were signed by:





J R Johnston - Director


Redan Property Investments Limited (Registered number: SC164623)

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

1. STATUTORY INFORMATION

Redan Property Investments Limited is a private company, limited by shares, domiciled in Scotland, registration number SC164623. The registered office is 6/8 Cow Wynd, Falkirk, FK1 1PL.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced property rentals, excluding value added tax. Sales are recognised in relation to the rental period.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any deemed impairment of value.

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Redan Property Investments Limited (Registered number: SC164623)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 1,000
NET BOOK VALUE
At 30 June 2024 1,000
At 30 June 2023 1,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 13,595,283
Disposals (220,000 )
At 30 June 2024 13,375,283
NET BOOK VALUE
At 30 June 2024 13,375,283
At 30 June 2023 13,595,283

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2018 3,424,801
Cost 9,950,482
13,375,283

If investment property had not been revalued it would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 10,065,482 10,065,482

Investment property was valued on an open market value basis on 30 June 2018 by the director .

Redan Property Investments Limited (Registered number: SC164623)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 94,504 107,334
Amounts owed by group undertakings 775,839 775,839
Amounts owed by related parties 1,346 -
Other debtors 27,997 254,096
899,686 1,137,269

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 62,817 906,121
Trade creditors 70,018 69,946
Taxation and social security 160,647 219,629
Other creditors 283,344 303,443
576,826 1,499,139

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 1,744,541 1,278,515
Amounts owed to related parties 1,903,566 1,979,958
3,648,107 3,258,473

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 531,752

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 1,807,358 2,184,636

Bank of Scotland PLC hold a standard security and floating charge over the assets of the company in respect of the bank loans.

Redan Property Investments Limited (Registered number: SC164623)

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

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
J R Johnston
Balance outstanding at start of year 235,196 -
Amounts advanced - 235,196
Amounts repaid (235,196 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 235,196

11. RELATED PARTY DISCLOSURES

At the year end, amounts owed to companies under common control was £1,903,566 (2023: £1,979,958).

At the year, amounts owed by companies under common control was £1,346 (2023: £nil).