Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Mr James Robert Hendrie 20/06/2019 Dr Caroline Woodburn 20/06/2019 19 December 2024 The principal activity of the company continued to be that of the rental of its own investment properties. SC633912 2024-06-30 SC633912 bus:Director1 2024-06-30 SC633912 bus:Director2 2024-06-30 SC633912 2023-06-30 SC633912 core:CurrentFinancialInstruments 2024-06-30 SC633912 core:CurrentFinancialInstruments 2023-06-30 SC633912 core:Non-currentFinancialInstruments 2024-06-30 SC633912 core:Non-currentFinancialInstruments 2023-06-30 SC633912 core:ShareCapital 2024-06-30 SC633912 core:ShareCapital 2023-06-30 SC633912 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC633912 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC633912 core:MoreThanFiveYears 2024-06-30 SC633912 core:MoreThanFiveYears 2023-06-30 SC633912 2023-07-01 2024-06-30 SC633912 bus:FilletedAccounts 2023-07-01 2024-06-30 SC633912 bus:SmallEntities 2023-07-01 2024-06-30 SC633912 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC633912 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC633912 bus:Director1 2023-07-01 2024-06-30 SC633912 bus:Director2 2023-07-01 2024-06-30 SC633912 2022-07-01 2023-06-30 SC633912 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Company No: SC633912 (Scotland)

HENBURN PROPERTY LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

HENBURN PROPERTY LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

HENBURN PROPERTY LIMITED

BALANCE SHEET

As at 30 June 2024
HENBURN PROPERTY LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Investment property 4 125,000 125,000
125,000 125,000
Current assets
Debtors 5 373 2,667
Cash at bank and in hand 14,760 12,921
15,133 15,588
Creditors: amounts falling due within one year 6 ( 69,214) ( 69,143)
Net current liabilities (54,081) (53,555)
Total assets less current liabilities 70,919 71,445
Creditors: amounts falling due after more than one year 7 ( 55,097) ( 54,944)
Provision for liabilities ( 4,923) ( 4,923)
Net assets 10,899 11,578
Capital and reserves
Called-up share capital 100 100
Profit and loss account 10,799 11,478
Total shareholders' funds 10,899 11,578

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Henburn Property Limited (registered number: SC633912) were approved and authorised for issue by the Board of Directors on 19 December 2024. They were signed on its behalf by:

Mr James Robert Hendrie
Director
Dr Caroline Woodburn
Director
HENBURN PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
HENBURN PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Henburn Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Purroch Farm Mauchline Road, Hurlford, Kilmarnock, KA1 5JJ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Turnover includes revenue earned from property rental.

Rental income and management charges are recognised in the period to which they relate.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

4. Investment property

Investment property
£
Valuation
As at 01 July 2023 125,000
As at 30 June 2024 125,000

Valuation

Investment property comprises of two residential properties. The fair value of the investment properties has been arrived at on the basis of the purchase price and a valuation carried out on 30 June 2024 by James Hendrie, one of the company's directors. The properties were bought on an open market and are therefore deemed at fair value, having regard to transactions of similar properties in the area.

5. Debtors

2024 2023
£ £
Trade debtors 0 2,341
Other debtors 373 326
373 2,667

6. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 69,214 69,143

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 55,097 54,944

Other creditors represents a loan which is secured over the property to which it relates.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Other creditors (secured) 55,097 54,944

8. Related party transactions

Transactions with the entity's directors

Included in other creditors is a balance of £56,009 (2023 - £56,009) due to one of the directors. This loan is repayable on demand and bears no interest.