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REGISTERED NUMBER: SC119470 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Heinzsight Properties Limited

Heinzsight Properties Limited (Registered number: SC119470)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Heinzsight Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P Barclay
Ms J Gordon





REGISTERED OFFICE: 31 Queen Square
GLASGOW
G41 2BD





REGISTERED NUMBER: SC119470 (Scotland)





ACCOUNTANTS: The Kelvin Partnership Ltd
Chartered Accountants
The Cooper Building
505 Great Western Road
Glasgow
G12 8HN

Heinzsight Properties Limited (Registered number: SC119470)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,360 7,107
Investment property 5 1,327,552 1,327,552
1,333,912 1,334,659

CURRENT ASSETS
Debtors 6 360,000 260,000
Cash at bank 2,504 150
362,504 260,150
CREDITORS
Amounts falling due within one year 7 566,270 563,294
NET CURRENT LIABILITIES (203,766 ) (303,144 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,130,146

1,031,515

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 1,120,146 1,021,515
SHAREHOLDERS' FUNDS 1,130,146 1,031,515

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Heinzsight Properties Limited (Registered number: SC119470)

Balance Sheet - continued
31 March 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 29 August 2024 and were signed on its behalf by:





P Barclay - Director


Heinzsight Properties Limited (Registered number: SC119470)

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

1. STATUTORY INFORMATION

Heinzsight 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
The turnover shown in the profit and loss account represents rental income receivable in the year. Sales are recognised in the period that the rental relates to.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

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.

Heinzsight Properties Limited (Registered number: SC119470)

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 32,982 12,305 1,141 46,428
Additions - - 632 632
At 31 March 2024 32,982 12,305 1,773 47,060
DEPRECIATION
At 1 April 2023 28,661 10,115 545 39,321
Charge for year 648 547 184 1,379
At 31 March 2024 29,309 10,662 729 40,700
NET BOOK VALUE
At 31 March 2024 3,673 1,643 1,044 6,360
At 31 March 2023 4,321 2,190 596 7,107

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,327,552
NET BOOK VALUE
At 31 March 2024 1,327,552
At 31 March 2023 1,327,552

The Directors have valued the Investment Properties at the year end and consider it to be that of fair value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 360,000 260,000

Heinzsight Properties Limited (Registered number: SC119470)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Tax 30,728 26,460
Directors' current accounts 534,100 535,393
Accrued expenses 1,442 1,441
566,270 563,294

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, Mr P Barclay (director and shareholder) was due £534,100 (2023 - £535,393) from the company.

This amount is interest free and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Barclay.