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REGISTERED NUMBER: SC372022 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

CULTER PROPERTIES LIMITED

CULTER PROPERTIES LIMITED (REGISTERED NUMBER: SC372022)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CULTER PROPERTIES LIMITED

Company Information
for the Year Ended 31 January 2024







DIRECTOR: J Mckay





REGISTERED OFFICE: 5 Carden Place
Aberdeen
AB10 1UT





REGISTERED NUMBER: SC372022 (Scotland)






CULTER PROPERTIES LIMITED (REGISTERED NUMBER: SC372022)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 94,267 70,659
Investment property 6 4,740,212 4,976,160
4,834,479 5,046,819

CURRENT ASSETS
Stocks 80,000 80,000
Debtors 7 87,241 136,073
Cash at bank 6,670 2,478
173,911 218,551
CREDITORS
Amounts falling due within one year 8 922,943 1,594,296
NET CURRENT LIABILITIES (749,032 ) (1,375,745 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,085,447

3,671,074

CREDITORS
Amounts falling due after more than one
year

9

(2,479,820

)

(1,981,516

)

PROVISIONS FOR LIABILITIES (17,665 ) (17,665 )
NET ASSETS 1,587,962 1,671,893

CAPITAL AND RESERVES
Called up share capital 514,854 514,854
Share premium 2,496,561 2,496,561
Fair value reserve 10 (258,386 ) (247,438 )
Retained earnings (1,165,067 ) (1,092,084 )
1,587,962 1,671,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

CULTER PROPERTIES LIMITED (REGISTERED NUMBER: SC372022)

Balance Sheet - continued
31 January 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 director and authorised for issue on 26 November 2024 and were signed by:





J Mckay - Director


CULTER PROPERTIES LIMITED (REGISTERED NUMBER: SC372022)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

CULTER PROPERTIES LIMITED (REGISTERED NUMBER: SC372022)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


2. ACCOUNTING POLICIES - continued

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 NIL (2023 - NIL).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 20,146
AMORTISATION
At 1 February 2023
and 31 January 2024 20,146
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2023 70,123 65,736 3,219
Additions - 1,140 590
At 31 January 2024 70,123 66,876 3,809
DEPRECIATION
At 1 February 2023 19,855 47,805 995
Charge for year 14,025 8,064 576
At 31 January 2024 33,880 55,869 1,571
NET BOOK VALUE
At 31 January 2024 36,243 11,007 2,238
At 31 January 2023 50,268 17,931 2,224

CULTER PROPERTIES LIMITED (REGISTERED NUMBER: SC372022)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 22,876 369 162,323
Additions 47,410 282 49,422
At 31 January 2024 70,286 651 211,745
DEPRECIATION
At 1 February 2023 22,876 133 91,664
Charge for year 2,963 186 25,814
At 31 January 2024 25,839 319 117,478
NET BOOK VALUE
At 31 January 2024 44,447 332 94,267
At 31 January 2023 - 236 70,659

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 4,976,160
Disposals (235,948 )
At 31 January 2024 4,740,212
NET BOOK VALUE
At 31 January 2024 4,740,212
At 31 January 2023 4,976,160

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,164 8,187
Other debtors 85,077 127,886
87,241 136,073

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 232,225 858,147
Trade creditors 19,407 1,226
Taxation and social security 223 10,658
Other creditors 671,088 724,265
922,943 1,594,296

CULTER PROPERTIES LIMITED (REGISTERED NUMBER: SC372022)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 2,479,820 1,981,516

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,995,213 1,945,311

10. RESERVES
Fair
value
reserve
£   
At 1 February 2023 (247,438 )
Transfer on disposal (10,948 )

At 31 January 2024 (258,386 )

11. ULTIMATE CONTROLLING PARTY

The controlling party is J Mckay.