IRIS Accounts Production v24.3.0.553 SC690599 director 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC6905992023-03-31SC6905992024-03-31SC6905992023-04-012024-03-31SC6905992022-03-31SC6905992022-04-012023-03-31SC6905992023-03-31SC690599ns15:Scotland2023-04-012024-03-31SC690599ns14:PoundSterling2023-04-012024-03-31SC690599ns10:Director12023-04-012024-03-31SC690599ns10:PrivateLimitedCompanyLtd2023-04-012024-03-31SC690599ns10:SmallEntities2023-04-012024-03-31SC690599ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31SC690599ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-31SC690599ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC690599ns10:FullAccounts2023-04-012024-03-31SC690599ns10:RegisteredOffice2023-04-012024-03-31SC690599ns5:CurrentFinancialInstruments2024-03-31SC690599ns5:CurrentFinancialInstruments2023-03-31SC690599ns5:Non-currentFinancialInstruments2024-03-31SC690599ns5:Non-currentFinancialInstruments2023-03-31SC690599ns5:ShareCapital2024-03-31SC690599ns5:ShareCapital2023-03-31SC690599ns5:RetainedEarningsAccumulatedLosses2024-03-31SC690599ns5:RetainedEarningsAccumulatedLosses2023-03-31SC690599ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31SC690599ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31SC6905991ns10:Director12023-03-31SC6905991ns10:Director12022-03-31SC6905991ns10:Director12023-04-012024-03-31SC6905991ns10:Director12022-04-012023-03-31SC6905991ns10:Director12024-03-31SC6905991ns10:Director12023-03-31
REGISTERED NUMBER: SC690599 (Scotland)




















Hume Property Investments Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Hume Property Investments Limited (Registered number: SC690599)






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


Hume Property Investments Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: A R Hume



REGISTERED OFFICE: 20 Alva Street
Edinburgh
Midlothian
EH2 4PY



REGISTERED NUMBER: SC690599 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Coutts & Co
440 Strand
London
WC2R 0QS

Hume Property Investments Limited (Registered number: SC690599)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,828,585 1,357,847

CURRENT ASSETS
Debtors 5 737,583 10,644
Cash at bank 587 1,123,911
738,170 1,134,555
CREDITORS
Amounts falling due within one year 6 594,619 666,951
NET CURRENT ASSETS 143,551 467,604
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,972,136

1,825,451

CREDITORS
Amounts falling due after more than
one year

7

3,883,426

1,750,000
NET ASSETS 88,710 75,451

CAPITAL AND RESERVES
Called up share capital 330 330
Retained earnings 88,380 75,121
88,710 75,451

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 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.

Hume Property Investments Limited (Registered number: SC690599)

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 director and authorised for issue on 27 November 2024 and were signed by:





A R Hume - Director


Hume Property Investments Limited (Registered number: SC690599)

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

1. STATUTORY INFORMATION

Hume Property Investments 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 represents rental income relating to the period.

Investment property
Investment properties are shown at their fair value. Any surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.


Hume Property Investments Limited (Registered number: SC690599)

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

2. ACCOUNTING POLICIES - continued
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 where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,357,847
Additions 2,470,738
At 31 March 2024 3,828,585
NET BOOK VALUE
At 31 March 2024 3,828,585
At 31 March 2023 1,357,847

If investment property had not been revalued it would have been included at historical cost of £3,828,585.

Investment property was valued on an open market basis on 31 March 2024 by the directors.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 737,583 10,644

Hume Property Investments Limited (Registered number: SC690599)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 337 -
Taxation and social security 4,051 14,348
Other creditors 590,231 652,603
594,619 666,951

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,377,734 -
Other creditors 2,505,692 1,750,000
3,883,426 1,750,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,377,734 -

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
A R Hume
Balance outstanding at start of year 8,364 (343,420 )
Amounts advanced 739,261 351,784
Amounts repaid (10,042 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 737,583 8,364

This loan is unsecured and repayable on demand. Interest is charged at 2.25% per annum.