IRIS Accounts Production v24.3.2.46 SC261040 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2610402023-05-31SC2610402024-05-31SC2610402023-06-012024-05-31SC2610402022-05-31SC2610402022-06-012023-05-31SC2610402023-05-31SC261040ns15:Scotland2023-06-012024-05-31SC261040ns14:PoundSterling2023-06-012024-05-31SC261040ns10:Director12023-06-012024-05-31SC261040ns10:PrivateLimitedCompanyLtd2023-06-012024-05-31SC261040ns10:SmallEntities2023-06-012024-05-31SC261040ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-31SC261040ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-31SC261040ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-31SC261040ns10:FullAccounts2023-06-012024-05-31SC261040ns10:Director22023-06-012024-05-31SC261040ns10:CompanySecretary12023-06-012024-05-31SC261040ns10:RegisteredOffice2023-06-012024-05-31SC261040ns5:CurrentFinancialInstruments2024-05-31SC261040ns5:CurrentFinancialInstruments2023-05-31SC261040ns5:ShareCapital2024-05-31SC261040ns5:ShareCapital2023-05-31SC261040ns5:RetainedEarningsAccumulatedLosses2024-05-31SC261040ns5:RetainedEarningsAccumulatedLosses2023-05-31SC261040ns5:LandBuildings2023-06-012024-05-31SC261040ns5:PlantMachinery2023-06-012024-05-31SC261040ns5:LandBuildingsns5:ShortLeaseholdAssets2023-05-31SC261040ns5:PlantMachinery2023-05-31SC261040ns5:MotorVehicles2023-05-31SC261040ns5:ComputerEquipment2023-05-31SC261040ns5:LandBuildingsns5:ShortLeaseholdAssets2023-06-012024-05-31SC261040ns5:MotorVehicles2023-06-012024-05-31SC261040ns5:ComputerEquipment2023-06-012024-05-31SC261040ns5:LandBuildingsns5:ShortLeaseholdAssets2024-05-31SC261040ns5:PlantMachinery2024-05-31SC261040ns5:MotorVehicles2024-05-31SC261040ns5:ComputerEquipment2024-05-31SC261040ns5:LandBuildingsns5:ShortLeaseholdAssets2023-05-31SC261040ns5:PlantMachinery2023-05-31SC261040ns5:MotorVehicles2023-05-31SC261040ns5:ComputerEquipment2023-05-31SC261040ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-31SC261040ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-31SC261040ns5:DeferredTaxation2023-05-31SC261040ns5:DeferredTaxation2023-06-012024-05-31SC261040ns5:DeferredTaxation2024-05-31SC261040ns5:RetainedEarningsAccumulatedLosses2023-05-31SC261040ns5:RetainedEarningsAccumulatedLosses2023-06-012024-05-31
REGISTERED NUMBER: SC261040 (Scotland)















Grampian Independent Properties Ltd.

Financial Statements For The Year Ended 31 May 2024






Grampian Independent Properties Ltd. (Registered number: SC261040)






Contents of the Financial Statements
For The Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Grampian Independent Properties Ltd.

Company Information
For The Year Ended 31 May 2024







DIRECTORS: Mr G Alexander
Mr K Parrott



SECRETARY: Mr G Alexander



REGISTERED OFFICE: 52 High Street
Elgin
Moray
IV30 1BU



REGISTERED NUMBER: SC261040 (Scotland)



ACCOUNTANTS: The Long Partnership
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: Royal Bank of Scotland
Elgin Branch
209 High Street
Elgin
Moray
IV30 1DL

Grampian Independent Properties Ltd. (Registered number: SC261040)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,763 21,033

CURRENT ASSETS
Debtors 5 46,335 25,151
Cash at bank and in hand 120,843 141,203
167,178 166,354
CREDITORS
Amounts falling due within one year 6 66,723 57,981
NET CURRENT ASSETS 100,455 108,373
TOTAL ASSETS LESS CURRENT
LIABILITIES

112,218

129,406

PROVISIONS FOR LIABILITIES 7 2,722 3,996
NET ASSETS 109,496 125,410

CAPITAL AND RESERVES
Called up share capital 8 1,500 1,500
Retained earnings 9 107,996 123,910
SHAREHOLDERS' FUNDS 109,496 125,410

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Grampian Independent Properties Ltd. (Registered number: SC261040)

Balance Sheet - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by:





Mr G Alexander - Director


Grampian Independent Properties Ltd. (Registered number: SC261040)

Notes to the Financial Statements
For The Year Ended 31 May 2024

1. STATUTORY INFORMATION

Grampian Independent Properties Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Equipment - 33% on cost and 25% on reducing balance

Taxation
Taxation for the year 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 year 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 year was 6 (2023 - 6 ) .

Grampian Independent Properties Ltd. (Registered number: SC261040)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Short Motor Computer
leasehold Equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 12,428 5,901 27,600 31,700 77,629
Disposals (680 ) - - (2,491 ) (3,171 )
At 31 May 2024 11,748 5,901 27,600 29,209 74,458
DEPRECIATION
At 1 June 2023 12,428 5,094 20,220 18,854 56,596
Charge for year - 201 1,845 7,224 9,270
Eliminated on disposal (680 ) - - (2,491 ) (3,171 )
At 31 May 2024 11,748 5,295 22,065 23,587 62,695
NET BOOK VALUE
At 31 May 2024 - 606 5,535 5,622 11,763
At 31 May 2023 - 807 7,380 12,846 21,033

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 42,713 20,544
Other debtors 3,622 4,607
46,335 25,151

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 30,289 21,728
Taxation and social security 33,445 16,400
Other creditors 2,989 19,853
66,723 57,981

7. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 2,722 3,996

Deferred
tax
£   
Balance at 1 June 2023 3,996
Provided during year (1,274 )
Balance at 31 May 2024 2,722

Grampian Independent Properties Ltd. (Registered number: SC261040)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal Value: 31.05.24 31.05.23
600 Ordinary 1 600 600
150 Ordinary A 1 150 150
375 Ordinary B 1 375 375
375 Ordinary C 1 375 375
1,500 1,500

9. RESERVES
Retained
earnings
£   

At 1 June 2023 123,910
Profit for the year 77,586
Dividends (93,500 )
At 31 May 2024 107,996

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £93,500 (2023 - £104,400) were paid to the directors .

At 1 June 2023, the company owed one of the directors £98. During the year the director paid expenses totalling £160 on behalf of the company. At 31 May 2024 the company owed the director £258.

At 1 June 2023, the company owed one of the directors £76. During the year the director paid expenses totalling £360 on behalf of the company. At 31 May 2024 the company owed the director £436.