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REGISTERED NUMBER: SC268156 (Scotland)















Unaudited Financial Statements

for the Period 1 August 2023 to 30 July 2024

for

Tay Properties Limited

Tay Properties Limited (Registered number: SC268156)






Contents of the Financial Statements
for the Period 1 August 2023 to 30 July 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Tay Properties Limited (Registered number: SC268156)

Balance Sheet
30 July 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 1,073 2,147
Investment property 5 487,000 481,912
488,073 484,059

Current assets
Debtors 6 629 190

Creditors
Amounts falling due within one year 7 129,857 104,249
Net current liabilities (129,228 ) (104,059 )
Total assets less current liabilities 358,845 380,000

Creditors
Amounts falling due after more than one
year

8

(327,333

)

(329,802

)

Provisions for liabilities - (2,489 )
Net assets 31,512 47,709

Capital and reserves
Called up share capital 10 2 2
Revaluation reserve 11 85,925 -
Retained earnings (54,415 ) 47,707
Shareholders' funds 31,512 47,709

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 July 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 July 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.

Tay Properties Limited (Registered number: SC268156)

Balance Sheet - continued
30 July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 December 2024 and were signed by:





S A Stewart - Director


Tay Properties Limited (Registered number: SC268156)

Notes to the Financial Statements
for the Period 1 August 2023 to 30 July 2024

1. Statutory information

Tay Properties Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC268156

Registered office: 89 Forfar Road
Dundee
DD4 9BS

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

2. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable relating the period of the accounts gross of any management fees.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 20% straight line

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued at its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

The investment property fair value of £487,000 (2023 - £481,912) was determined by the directors based on the market value of similar properties in the area.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Tay Properties Limited (Registered number: SC268156)

Notes to the Financial Statements - continued
for the Period 1 August 2023 to 30 July 2024

2. Accounting policies - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 (2023 - NIL).

4. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 August 2023
and 30 July 2024 31,247
Depreciation
At 1 August 2023 29,100
Charge for period 1,074
At 30 July 2024 30,174
Net book value
At 30 July 2024 1,073
At 31 July 2023 2,147

Tay Properties Limited (Registered number: SC268156)

Notes to the Financial Statements - continued
for the Period 1 August 2023 to 30 July 2024

5. Investment property
Total
£   
Fair value
At 1 August 2023 481,912
Revaluations 5,088
At 30 July 2024 487,000
Net book value
At 30 July 2024 487,000
At 31 July 2023 481,912

Fair value at 30 July 2024 is represented by:
£   
Valuation in 2024 487,000

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 629 190

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 4,499 3,457
Other creditors 125,358 100,792
129,857 104,249

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 327,333 329,802

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 327,333 329,802

9. Secured debts

Within creditors are secured liabilities of £326,371 (2023 - £327,711).

Tay Properties Limited (Registered number: SC268156)

Notes to the Financial Statements - continued
for the Period 1 August 2023 to 30 July 2024

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary shares £1 2 2

11. Reserves
Revaluation
reserve
£   
Transfer from retained earning 85,925

At 30 July 2024 85,925

12. Related party disclosures

Within creditors there is a balance of £107,489 (2023 - £92,062) owed to the director.