McLeish Properties Ltd SC237009 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is The principal activity of the company during the year was a property company. Digita Accounts Production Advanced 6.30.9574.0 true true SC237009 2023-09-01 2024-08-31 SC237009 2024-08-31 SC237009 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC237009 core:ShareCapital 2024-08-31 SC237009 core:SharePremium 2024-08-31 SC237009 core:CurrentFinancialInstruments 2024-08-31 SC237009 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 SC237009 core:FurnitureFittings 2024-08-31 SC237009 core:OfficeEquipment 2024-08-31 SC237009 bus:SmallEntities 2023-09-01 2024-08-31 SC237009 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC237009 bus:FilletedAccounts 2023-09-01 2024-08-31 SC237009 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC237009 bus:RegisteredOffice 2023-09-01 2024-08-31 SC237009 bus:Director2 2023-09-01 2024-08-31 SC237009 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 SC237009 bus:OrdinaryShareClass2 2023-09-01 2024-08-31 SC237009 bus:OrdinaryShareClass3 2023-09-01 2024-08-31 SC237009 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC237009 core:FurnitureFittings 2023-09-01 2024-08-31 SC237009 core:OfficeEquipment 2023-09-01 2024-08-31 SC237009 countries:Scotland 2023-09-01 2024-08-31 SC237009 2023-08-31 SC237009 core:FurnitureFittings 2023-08-31 SC237009 core:OfficeEquipment 2023-08-31 SC237009 2022-09-01 2023-08-31 SC237009 2023-08-31 SC237009 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC237009 core:ShareCapital 2023-08-31 SC237009 core:SharePremium 2023-08-31 SC237009 core:CurrentFinancialInstruments 2023-08-31 SC237009 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 SC237009 core:FurnitureFittings 2023-08-31 SC237009 core:OfficeEquipment 2023-08-31 SC237009 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 SC237009 bus:OrdinaryShareClass2 2022-09-01 2023-08-31 SC237009 bus:OrdinaryShareClass3 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registration number: SC237009

McLeish Properties Ltd

Unaudited Financial Statements

for the Year Ended 31 August 2024

 

McLeish Properties Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

McLeish Properties Ltd

Statement of Financial Position as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

659

796

Investment property

5

3,000,001

3,000,001

 

3,000,660

3,000,797

Current assets

 

Debtors

6

21,805

19,334

Cash at bank and in hand

 

55,920

65,756

 

77,725

85,090

Creditors: Amounts falling due within one year

7

(44,661)

(43,788)

Net current assets

 

33,064

41,302

Total assets less current liabilities

 

3,033,724

3,042,099

Provisions for liabilities

(269,663)

(269,663)

Net assets

 

2,764,061

2,772,436

Capital and reserves

 

Called up share capital

112

112

Share premium reserve

663,390

663,390

Retained earnings

2,100,559

2,108,934

Shareholders' funds

 

2,764,061

2,772,436

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 16 January 2025 and signed on its behalf by:
 

 

McLeish Properties Ltd

Statement of Financial Position as at 31 August 2024

.........................................
Mr Stewart F McLeish
Director

 

McLeish Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Fernieknowe
Kingennie
Broughty Ferry
Dundee
DD5 3PF

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

McLeish Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

15% reducing balance

Equipment

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2023 - 2).

 

McLeish Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 September 2023

2,249

1,854

4,103

At 31 August 2024

2,249

1,854

4,103

Depreciation

At 1 September 2023

1,636

1,671

3,307

Charge for the year

92

45

137

At 31 August 2024

1,728

1,716

3,444

Carrying amount

At 31 August 2024

521

138

659

At 31 August 2023

613

183

796

5

Investment properties

2024
£

At 1 September

3,000,001

Additions

-

Disposals

-

Fair value adjustments

-

At 31 August

3,000,001

The last valuation of the properties was at 31st August 2017 by the Directors and they are of the opinion that it is fairly stated in these accounts.

6

Debtors

Current

2024
£

2023
£

Trade debtors

21,751

19,334

Other debtors

54

-

 

21,805

19,334

 

McLeish Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

198

-

Taxation and social security

24,849

30,014

Accruals and deferred income

9,807

3,160

Other creditors

9,807

10,614

44,661

43,788

8

Reserves

2024

2023

£

£

Profit and loss account - distributable

783,969

792,344

Revaluation of investment properties - undistributable

1,586,253

1,586,253

Revaluation Investments - undistributable

-

-

Deferred Tax - undistributable

(269,663)

(269,663)

2,100,559

2,108,934

9

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £791.04 (2023 - £857.81) per each Ordinary A

33,224

36,028

Final dividend of £714.29 per each Ordinary B

20,000

20,000

Final dividend of £906.85 (2023 - £880.29) per each Ordinary C

38,088

36,972

91,311

93,000