REITH PROPERTIES LTD

Company Registration Number:
SC674930 (Scotland)

Unaudited abridged accounts for the year ended 20 March 2024

Period of accounts

Start date: 21 March 2023

End date: 20 March 2024

REITH PROPERTIES LTD

Contents of the Financial Statements

for the Period Ended 20 March 2024

Balance sheet
Notes

REITH PROPERTIES LTD

Balance sheet

As at 20 March 2024


Notes

2024

2023


£

£
Fixed assets
Investments: 3 780,000 678,748
Total fixed assets: 780,000 678,748
Current assets
Debtors:   578 578
Cash at bank and in hand: 1,374 1,285
Total current assets: 1,952 1,863
Creditors: amounts falling due within one year:   (297,115) (307,964)
Net current assets (liabilities): (295,163) (306,101)
Total assets less current liabilities: 484,837 372,647
Creditors: amounts falling due after more than one year:   (406,567) (406,567)
Provision for liabilities: (25,313)
Total net assets (liabilities): 52,957 (33,920)
Capital and reserves
Called up share capital: 500 500
Profit and loss account: 52,457 (34,420)
Shareholders funds: 52,957 (33,920)

The notes form part of these financial statements

REITH PROPERTIES LTD

Balance sheet statements

For the year ending 20 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 04 December 2024
and signed on behalf of the board by:

Name: G Reid
Status: Director

The notes form part of these financial statements

REITH PROPERTIES LTD

Notes to the Financial Statements

for the Period Ended 20 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services supplied.

Other accounting policies

Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference

REITH PROPERTIES LTD

Notes to the Financial Statements

for the Period Ended 20 March 2024

2. Employees

2024 2023
Average number of employees during the period 2 2

REITH PROPERTIES LTD

Notes to the Financial Statements

for the Period Ended 20 March 2024

3. Fixed investments

Investment property comprises of residential property available for rent. The fair value of the investment property has been arrived at on the basis of external and internal valuations undertaken by the Directors at 20 March 2024 and based on the current market values of similar assets in the area of the company Investments. The Directors deem that the fair value of the assets is £780,000. If investment properties were stated on a historical cost basis rather than a fair value basis, the amounts would have been included at £678,748