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REGISTERED NUMBER: SC594951 (Scotland)



















PAISLEY INVEST LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 APRIL 2024






PAISLEY INVEST LTD (REGISTERED NUMBER: SC594951)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PAISLEY INVEST LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Rui Dong Lin





REGISTERED OFFICE: 9 Royal Crescent
Glasgow
G3 7SP





REGISTERED NUMBER: SC594951 (Scotland)





ACCOUNTANTS: CW
Chartered Accountants
9 Royal Crescent
Glasgow
G3 7SP

PAISLEY INVEST LTD (REGISTERED NUMBER: SC594951)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,982 93,609
Investment property 5 955,357 955,357
1,009,339 1,048,966

CURRENT ASSETS
Debtors 6 56 251
Cash at bank and in hand 149,904 126,899
149,960 127,150
CREDITORS
Amounts falling due within one year 7 125,596 341,129
NET CURRENT ASSETS/(LIABILITIES) 24,364 (213,979 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,033,703

834,987

CREDITORS
Amounts falling due after more than one
year

8

(12,547

)

(22,567

)

PROVISIONS FOR LIABILITIES (3,929 ) (11,639 )
NET ASSETS 1,017,227 800,781

PAISLEY INVEST LTD (REGISTERED NUMBER: SC594951)

BALANCE SHEET - continued
30 APRIL 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2,900 2,900
Fair value reserve 9 14,966 14,966
Retained earnings 9 999,361 782,915
SHAREHOLDERS' FUNDS 1,017,227 800,781

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

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

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 director and authorised for issue on 29 January 2025 and were signed by:





Rui Dong Lin - Director


PAISLEY INVEST LTD (REGISTERED NUMBER: SC594951)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Paisley Invest 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 as modified by the revaluation of certain assets.

Turnover and revenue recognition
The turnover shown in the profit and loss account represents the rental income receivable for the year, exclusive of Value Added Tax. Income is recognised on the basis of rent due for the period.

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

Equipment and Fittings - 15 % on cost

Investment property
Investment properties are shown at their fair value. The surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market is not considered to be permanent.

This is in accordance with the FRS102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve together with the fair value movement.

Financial instruments
Basic financial instruments such as cash, debtors and creditors are measured at transaction price. Financial liabilities classified as payable within one year are not amortised.

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.

PAISLEY INVEST LTD (REGISTERED NUMBER: SC594951)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

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 NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Equipment
and
Fittings
£   
COST
At 1 May 2023
and 30 April 2024 264,183
DEPRECIATION
At 1 May 2023 170,574
Charge for year 39,627
At 30 April 2024 210,201
NET BOOK VALUE
At 30 April 2024 53,982
At 30 April 2023 93,609

PAISLEY INVEST LTD (REGISTERED NUMBER: SC594951)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 May 2023
and 30 April 2024 955,357
NET BOOK VALUE
At 30 April 2024 955,357
At 30 April 2023 955,357

The investment properties were revalued by the director on 30 April 2020 and remains unchanged at 30 April 2024.

Cost or valuation at 30 April 2024 is represented by:
£   
Valuation in 2020 19,955
Cost 935,402
955,357

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 56 251

The loan to related company is interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Corporation Tax 96,717 66,968
VAT 17,491 17,689
Other creditors - 125,001
Shareholder's loans - 102,083
Loan from related company 779 779
Director's current account 609 18,609
125,596 341,129

PAISLEY INVEST LTD (REGISTERED NUMBER: SC594951)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

The loans from director and shareholder are interest free and repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loan > one year 10,000 10,000
Bank loan : 2 to 5 years 2,547 12,567
12,547 22,567

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 May 2023 782,915 14,966 797,881
Profit for the year 266,446 266,446
Dividends (50,000 ) (50,000 )
At 30 April 2024 999,361 14,966 1,014,327

10. RELATED PARTY DISCLOSURES

The loan balance due to the director amounted to £609 (2023 : £18,609) at the year end.