Hopetoun Property Ltd SC760387 false 2023-02-27 2024-02-29 2024-02-29 The principal activity of the company is letting & operating of own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true SC760387 2023-02-27 2024-02-29 SC760387 2024-02-29 SC760387 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 SC760387 bus:SmallEntities 2023-02-27 2024-02-29 SC760387 bus:AuditExemptWithAccountantsReport 2023-02-27 2024-02-29 SC760387 bus:FilletedAccounts 2023-02-27 2024-02-29 SC760387 bus:SmallCompaniesRegimeForAccounts 2023-02-27 2024-02-29 SC760387 bus:RegisteredOffice 2023-02-27 2024-02-29 SC760387 bus:Director1 2023-02-27 2024-02-29 SC760387 bus:Director2 2023-02-27 2024-02-29 SC760387 bus:PrivateLimitedCompanyLtd 2023-02-27 2024-02-29 SC760387 bus:Agent1 2023-02-27 2024-02-29 SC760387 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-02-27 2024-02-29 SC760387 countries:Scotland 2023-02-27 2024-02-29 iso4217:GBP xbrli:pure

Registration number: SC760387

Hopetoun Property Ltd

Unaudited Filleted Financial Statements

for the Period from 27 February 2023 to 29 February 2024

 

Hopetoun Property Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Hopetoun Property Ltd

Company Information

Directors

Mrs G L Whannel

Mrs G Ballantyne

Registered office

 

Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

Accountants

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hopetoun Property Ltd
for the Period Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hopetoun Property Ltd for the period ended 29 February 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Hopetoun Property Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hopetoun Property Ltd and state those matters that we have agreed to state to the Board of Directors of Hopetoun Property Ltd, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hopetoun Property Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hopetoun Property Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Hopetoun Property Ltd. You consider that Hopetoun Property Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Hopetoun Property Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

25 November 2024

 

Hopetoun Property Ltd

(Registration number: SC760387)
Balance Sheet as at 29 February 2024

Note

2024
£

Fixed assets

 

Investment property

4

83,506

Creditors: Amounts falling due within one year

6

(81,829)

Net assets

 

1,677

Capital and reserves

 

Called up share capital

7

100

Retained earnings

1,577

Shareholders' funds

 

1,677

For the financial period ending 29 February 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 25 November 2024 and signed on its behalf by:
 

 

Hopetoun Property Ltd

(Registration number: SC760387)
Balance Sheet as at 29 February 2024

.........................................
Mrs G L Whannel
Director

.........................................
Mrs G Ballantyne
Director

 

Hopetoun Property Ltd

Notes to the Unaudited Financial Statements for the Period from 27 February 2023 to 29 February 2024

1

General information

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

The address of its registered office is:
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

These financial statements were authorised for issue by the Board on 25 November 2024.

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration derived from Other letting & operating of own of leased real estate. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

 

Hopetoun Property Ltd

Notes to the Unaudited Financial Statements for the Period from 27 February 2023 to 29 February 2024

The current income 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.

At the balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Investment property

Investment property is carried at fair value, Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period was 2.

 

Hopetoun Property Ltd

Notes to the Unaudited Financial Statements for the Period from 27 February 2023 to 29 February 2024

4

Investment properties

2024
£

Additions

83,506

At 29 February

83,506

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

5

Debtors

2024
£

-

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Taxation and social security

566

Accruals and deferred income

1,380

Other creditors

79,883

81,829

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

100

100

   
 

Hopetoun Property Ltd

Notes to the Unaudited Financial Statements for the Period from 27 February 2023 to 29 February 2024

8

Related party transactions

Summary of transactions with key management

The company operates a loan account with the director, Mrs G L Whannel.
During the year, the director advanced loans totalling £12,586 to the company. At the year end, the balance due to the director was £12,586. This loan is unsecured, interest free and has no fixed repayment terms.

The company operates a loan account with the director, Mrs G Ballantyne.
During the year, the director advanced loans totalling £12,626 to the company. At the year end, the balance due to the director was £12,626. This loan is unsecured, interest free and has no fixed repayment terms.

The company operates a loan account with Romano Ltd, a company controlled by Mrs G L Whannel and Mrs G Ballantyne. During the year, Romano Ltd advanced loans totalling £54,670 to the company. At the year end, the balance due to Romano Ltd was £54,670. This loan is unsecured, interest free and has no fixed repayment terms.