REGISTERED NUMBER: |
HOOD PROPERTY KILWINNING LTD |
FINANCIAL STATEMENTS FOR THE PERIOD 1ST AUGUST 2022 TO 31ST DECEMBER 2023 |
REGISTERED NUMBER: |
HOOD PROPERTY KILWINNING LTD |
FINANCIAL STATEMENTS FOR THE PERIOD 1ST AUGUST 2022 TO 31ST DECEMBER 2023 |
HOOD PROPERTY KILWINNING LTD (REGISTERED NUMBER: SC704831) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST AUGUST 2022 TO 31ST DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
HOOD PROPERTY KILWINNING LTD |
COMPANY INFORMATION |
FOR THE PERIOD 1ST AUGUST 2022 TO 31ST DECEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
11 Portland Road |
Kilmarnock |
Ayrshire |
KA1 2BT |
HOOD PROPERTY KILWINNING LTD (REGISTERED NUMBER: SC704831) |
BALANCE SHEET |
31ST DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
HOOD PROPERTY KILWINNING LTD (REGISTERED NUMBER: SC704831) |
BALANCE SHEET - continued |
31ST DECEMBER 2023 |
The financial statements were approved by the director and authorised for issue on |
HOOD PROPERTY KILWINNING LTD (REGISTERED NUMBER: SC704831) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST AUGUST 2022 TO 31ST DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Hood Property Kilwinning Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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 period 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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2022 - |
HOOD PROPERTY KILWINNING LTD (REGISTERED NUMBER: SC704831) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST AUGUST 2022 TO 31ST DECEMBER 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st August 2022 |
Additions |
Revaluations | 9,963 |
At 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st July 2022 |
Fair value at 31st December 2023 is represented by: |
£ |
Valuation in 2023 | 9,963 |
Cost | 320,037 |
330,000 |
Investment properties are stated at cost (including development finance costs) and were externally revalued on completion, for the purposes of secured lending, at a total amount of £330,000. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans more 5yrs non-inst |
HOOD PROPERTY KILWINNING LTD (REGISTERED NUMBER: SC704831) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST AUGUST 2022 TO 31ST DECEMBER 2023 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Other loans |
9. | RELATED PARTY DISCLOSURES |
Debtors includes the following amounts due from companies which are controlled by the director: |
Hood Property Dennyloanhead Ltd (£4,335) |
Hood Projects Ltd (£14,000) |
Hood Property Saltcoats Ltd (£32,334) |
Hood Holdings Ltd (£33,149) |
Creditors includes the following amounts due to companies which are controlled by the director: |
Hood Property Cardrona Ltd (£30,590) |
Creditors also includes an amount due to the director of £111,830. There are no set terms of repayment and no interest was charged. |
The director will continue to support the company for the foreseeable future. |
Investment properties were originally purchased from the director on 14 September 2021 at a cost of £156,750. These transactions were at arms length. |