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REGISTERED NUMBER: SC679242 (Scotland)















Financial Statements for the Year Ended 29 February 2024

for

Asset Project Investments Ltd

Asset Project Investments Ltd (Registered number: SC679242)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Asset Project Investments Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: D W Ure
Mrs J E Ure





REGISTERED OFFICE: 14 Guthrie Crescent
Larbert
FK5 4GE





REGISTERED NUMBER: SC679242 (Scotland)






Asset Project Investments Ltd (Registered number: SC679242)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 609,574 586,070

CURRENT ASSETS
Cash at bank 1,099 4,107

CREDITORS
Amounts falling due within one year 5 147,588 133,993
NET CURRENT LIABILITIES (146,489 ) (129,886 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

463,085

456,184

CREDITORS
Amounts falling due after more than one
year

6

422,973

435,099
NET ASSETS 40,112 21,085

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 25,282 25,282
Retained earnings 14,730 (4,297 )
40,112 21,085

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 28 November 2024 and were signed on its behalf by:



D W Ure - Director


Asset Project Investments Ltd (Registered number: SC679242)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Asset Project 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

Asset Project Investments Ltd (Registered number: SC679242)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 586,070
Additions 23,504
At 29 February 2024 609,574
NET BOOK VALUE
At 29 February 2024 609,574
At 28 February 2023 586,070

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2022 25,282
Cost 584,292
609,574

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 584,292 560,788

Investment properties were valued on an open market basis on 14 March 2022 by the directors .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,374 3,285
Trade creditors 1 1
Other creditors 144,213 130,707
147,588 133,993

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 422,973 435,099

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 409,476 421,958

Asset Project Investments Ltd (Registered number: SC679242)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 426,347 438,384

8. RESERVES
Revaluation
reserve
£   
At 1 March 2023
and 29 February 2024 25,282