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COLQUHOUN PROPERTIES LIMITED

Registered Number
SC667723
(Scotland)

Unaudited Financial Statements for the Year ended
31 July 2024

COLQUHOUN PROPERTIES LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

Audrey Elizabeth Cowan

Registered Address

3 Eskpoint
Dalkeith
EH22 1HW

Registered Number

SC667723 (Scotland)
COLQUHOUN PROPERTIES LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets35,3366,337
Investment property4169,460169,460
174,796175,797
Current assets
Debtors52,3043,458
Cash at bank and on hand1,9404,172
4,2447,630
Creditors amounts falling due within one year6(73,773)(78,325)
Net current assets (liabilities)(69,529)(70,695)
Total assets less current liabilities105,267105,102
Creditors amounts falling due after one year7(109,635)(109,635)
Provisions for liabilities(1,014)(1,204)
Net assets(5,382)(5,737)
Capital and reserves
Called up share capital1010
Profit and loss account(5,392)(5,747)
Shareholders' funds(5,382)(5,737)
The financial statements were approved and authorised for issue by the Director on 18 November 2024, and are signed on its behalf by:
Audrey Elizabeth Cowan
Director
Registered Company No. SC667723
COLQUHOUN PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
Colquhoun 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.
Statement of compliance
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.
Going concern
The financial statements have been prepared on the going concern basis. The director finds it appropriate for the financial statements to be prepared on this basis despite the net liability position of the company. The company is reliant upon the continued support of the director who has confirmed she will not withdraw her directors loan account to the detriment of other creditors and will continue to support the company as required.
Turnover policy
Income represents rents receivable in the year.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting 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 period 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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Fixtures and Fittings: 25% reducing balance Office Equipment: 33% at cost Leasehold Improvements: 15% 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.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 August 238,7037722999,774
Additions187--187
Disposals--(299)(299)
At 31 July 248,890772-9,662
Depreciation and impairment
At 01 August 232,992376693,437
Charge for year85999991,057
On disposals--(168)(168)
At 31 July 243,851475-4,326
Net book value
At 31 July 245,039297-5,336
At 31 July 235,7113962306,337
4.Investment property

£
Fair value at 01 August 23169,460
At 31 July 24169,460
5.Debtors: amounts due within one year

2024

2023

££
Other debtors2,0303,203
Prepayments and accrued income274255
Total2,3043,458
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8457
Other creditors72,37577,013
Accrued liabilities and deferred income1,3141,255
Total73,77378,325
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts109,635109,635
Total109,635109,635
The mortgage is secured over the investment property.