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REGISTERED NUMBER: SC242358















TARTANBAY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 FEBRUARY 2023 TO 31 JULY 2024






TARTANBAY LIMITED (REGISTERED NUMBER: SC242358)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 JULY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


TARTANBAY LIMITED (REGISTERED NUMBER: SC242358)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 - 120,000

CURRENT ASSETS
Debtors 5 2,877 477
Cash at bank 779 39,335
3,656 39,812
CREDITORS
Amounts falling due within one year 6 3,654 4,342
NET CURRENT ASSETS 2 35,470
TOTAL ASSETS LESS CURRENT
LIABILITIES

2

155,470

PROVISIONS FOR LIABILITIES - 12,844
NET ASSETS 2 142,626

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve - 73,525
Retained earnings - 69,099
SHAREHOLDERS' FUNDS 2 142,626

TARTANBAY LIMITED (REGISTERED NUMBER: SC242358)

BALANCE SHEET - continued
31 JULY 2024


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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 January 2025 and were signed by:





H S Fields - Director


TARTANBAY LIMITED (REGISTERED NUMBER: SC242358)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 JULY 2024

1. STATUTORY INFORMATION

Tartanbay Limited is a private company, limited by shares, registered in Scotland. The registered office is 5 Fitzroy Place, Glasgow, G3 7RH.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard. The financial statements have been prepared under the historical cost convention modified to include the revaluation of investment property.

Judgements
The company considers, on an annual basis, the judgements made by management when applying its significant accounting policies which would have the most significant effect on amounts that are recognised in the financial statements. The director considers there are no such significant judgements.

Turnover
Turnover represents income receivable under operating leases.
The company's policy is to recognise income in accordance with the terms of the lease agreements.

Investment property
All of the company's properties are held for long term investment. Investment properties are accounted for as follows:

(i) Investment properties are initially recorded at cost which includes purchase cost and any directly attributable expenditure.

(ii)Thereafter, investment properties are revalued at each balance sheet date to their fair value, where this can be measured reliably.

(iii) The surplus or deficit arising on revaluation in the financial year is recognised in the profit and loss account for that year. Revaluation gains and losses are accumulated in the profit and loss account reserve, unless the revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a non-distributable reserve (fair value reserve) in the balance sheet.

(iv) Deferred taxation is provided on any gains at the rate expected to apply when a property is sold.

TARTANBAY LIMITED (REGISTERED NUMBER: SC242358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 JULY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivables and payable and loans to and from related parties.

Debt instruments like loans and other accounts receivables and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; debt instruments that are payable or receivable within one year, like trade debtors and creditors are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

TARTANBAY LIMITED (REGISTERED NUMBER: SC242358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2023 TO 31 JULY 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 120,000
Inter group transfers (120,000 )
At 31 July 2024 -
NET BOOK VALUE
At 31 July 2024 -
At 31 January 2023 120,000

The company's investment property is held for use under operating lease. During the period the company transferred its investment property to a group undertaking.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 2,877 -
Other debtors - 477
2,877 477

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,500 1,970
Other creditors 1,154 2,372
3,654 4,342