Registration number:
McLeish Properties Ltd
for the Year Ended 31 August 2024
McLeish Properties Ltd
Contents
Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
McLeish Properties Ltd
Statement of Financial Position as at 31 August 2024
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2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Retained earnings |
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Shareholders' funds |
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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:
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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
McLeish Properties Ltd
Statement of Financial Position as at 31 August 2024
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McLeish Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
General information |
The Company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
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
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
Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
McLeish Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Tangible assets |
Fixtures and fittings |
Office equipment |
Total |
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Cost or valuation |
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At 1 September 2023 |
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At 31 August 2024 |
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Depreciation |
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At 1 September 2023 |
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Charge for the year |
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At 31 August 2024 |
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Carrying amount |
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At 31 August 2024 |
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At 31 August 2023 |
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Investment properties |
2024 |
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At 1 September |
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Additions |
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Disposals |
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Fair value adjustments |
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At 31 August |
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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.
Debtors |
Current |
2024 |
2023 |
Trade debtors |
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Other debtors |
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- |
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McLeish Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Trade creditors |
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- |
Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Reserves |
2024 |
2023 |
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£ |
£ |
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Profit and loss account - distributable |
783,969 |
792,344 |
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Revaluation of investment properties - undistributable |
1,586,253 |
1,586,253 |
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Revaluation Investments - undistributable |
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- |
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Deferred Tax - undistributable |
(269,663) |
(269,663) |
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2,100,559 |
2,108,934 |
Dividends |
Final dividends paid
2024 |
2023 |
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Final dividend of £ |
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Final dividend of £ |
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Final dividend of £ |
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