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REGISTERED NUMBER: SC076328 (Scotland)




















Tinord Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024






Tinord Limited (Registered number: SC076328)






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


Tinord Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: J Crooks



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT



REGISTERED NUMBER: SC076328 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Bank of Scotland
PO Box 1000
BX2 1LB



SOLICITORS: Mowat Hall Dick
45 Queen Charlotte Street
Leith
Edinburgh
EH6 7HT

Tinord Limited (Registered number: SC076328)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,387 -
Investments 5 1,205,209 1,270,252
Investment property 6 17,000,000 17,000,000
18,224,596 18,270,252

CURRENT ASSETS
Stocks 3,006 3,006
Debtors 7 486,756 193,279
Cash at bank 280,903 318,836
770,665 515,121
CREDITORS
Amounts falling due within one year 8 123,310 85,683
NET CURRENT ASSETS 647,355 429,438
TOTAL ASSETS LESS CURRENT LIABILITIES 18,871,951 18,699,690

PROVISIONS FOR LIABILITIES 9 2,998,000 3,022,000
NET ASSETS 15,873,951 15,677,690

Tinord Limited (Registered number: SC076328)

Balance Sheet - continued
30 April 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 6,312 6,312
Fair value reserve 11 10,202,774 10,438,757
Retained earnings 11 5,664,865 5,232,621
SHAREHOLDERS' FUNDS 15,873,951 15,677,690

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 31 January 2025 and were signed by:





J Crooks - Director


Tinord Limited (Registered number: SC076328)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Tinord Limited 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.

The director's going concern assessment for the company covers a period of at least 12 months from the date of signing of these financial statements.

Turnover and revenue recognition
Turnover represents rent and property sales.

Rent is recognised in accordance with the lease agreement. Where there are lease incentives such as rent free periods the rent relating to these incentives is accrued and subsequently released of the full period of the lease agreement. Property sales are recognised with reference to completion date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Investment property
Investment properties are shown at their fair value. Any 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 conditions is not considered to be permanent.

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 with the relevant change in fair value.

Stocks
The cost of properties held as stock is stated at the lower of cost and net realisable value. No profit is taken in respect of properties sold until settlement has been achieved.


Tinord Limited (Registered number: SC076328)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments are stated at market value, which is obtained from the Stock Market for listed investments or with reference to bullion markets for the unlisted investments. Any revaluation gains are recognised in the fair value reserve.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are repayable on demand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Tinord Limited (Registered number: SC076328)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 11,325 1,644 12,969
Additions 19,800 - 19,800
At 30 April 2024 31,125 1,644 32,769
DEPRECIATION
At 1 May 2023 11,325 1,644 12,969
Charge for year 413 - 413
At 30 April 2024 11,738 1,644 13,382
NET BOOK VALUE
At 30 April 2024 19,387 - 19,387
At 30 April 2023 - - -

5. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1 May 2023 1,086,140 184,112 1,270,252
Additions 334,523 - 334,523
Disposals (190,536 ) - (190,536 )
Revaluations (238,837 ) 29,807 (209,030 )
At 30 April 2024 991,290 213,919 1,205,209
NET BOOK VALUE
At 30 April 2024 991,290 213,919 1,205,209
At 30 April 2023 1,086,140 184,112 1,270,252

The cost and market value of the investments listed on the London Stock Exchange as at 30 April 2024 were £1,7799,186 (2023: £1,599,400) and £991,290 (2023: £1,086,140) respectively.

The cost and market value of the unlisted investments as at 30 April 2024 were £112,641 (2023: £112,641) and £213,919 (2023: £184,112) respectively.

Tinord Limited (Registered number: SC076328)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 17,000,000
NET BOOK VALUE
At 30 April 2024 17,000,000
At 30 April 2023 17,000,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 3,097,454 3,097,454

Investment properties were valued on an open market basis on 30 April 2024 by the director.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 486,756 193,279

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 113,124 79,597
Other creditors 10,186 6,086
123,310 85,683

Included within other creditors is a loan from the director. The balance is unsecured and repayable on demand.

Tinord Limited (Registered number: SC076328)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 4,847 -
On revaluation surplus 2,993,153 3,022,000
2,998,000 3,022,000

Deferred
tax
£   
Balance at 1 May 2023 3,022,000
Provided during year (24,000 )
Balance at 30 April 2024 2,998,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
6,250 A Ordinary £1 6,250 6,250
3,125 B Ordinary 1p 31 31
3,125 C Ordinary 1p 31 31
6,312 6,312

Tinord Limited (Registered number: SC076328)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. CALLED UP SHARE CAPITAL - continued

The rights attached to the classes of shares are as follows:

The A ordinary shares have no dividend rights and full right to vote on and be counted towards a quorum on any resolution concerning any business or assets of the company, whether at a general meeting or otherwise.

The B and C ordinary shares have full dividend rights and no right to vote on or be counted towards a quorum on any resolution concerning any business or assets of the company, whether at a general meeting or otherwise.

On a return of assets on liquidation, capital reduction or otherwise (other than a conversion, redemption or purchase of shares), the assets of the company remaining after the payment of its liabilities (to the extent the company is lawfully able to do so) and after paying any unpaid dividends shall be applied in the following order of priority:- in repayment of the capital paid up or credited as paid up on the A share (including any premium) thereafter in repayment of capital paid up on the B & C shares (including any premium), and the residual (if any) should be divided in the following order;- firstly to the A shares according to the amounts paid up on the shares held by them respectively such sums as represent the net asset value of the company as at the date of adoption of the changes with the balance distributed among the B & C holders.

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

At 1 May 2023 5,232,621 10,438,757 15,671,378
Profit for the year 196,261 196,261
Revaluation of listed and unlisted
investments

195,866

(195,866

)

-

Release of reserves on disposal
of listed and unlisted
investments


68,964


(68,964


)


-


Deferred tax movement (28,847 ) 28,847 -
At 30 April 2024 5,664,865 10,202,774 15,867,639

The fair value reserve represents the net revaluation surplus on listed investments and investment properties that is not readily distributable as realised earnings.

Tinord Limited (Registered number: SC076328)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year £4,464 was lent to the company (2023: lent £1,253 by the company). At the year end £4,227 (2023: £237 was due to the company by the director) was owed to the director.