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REGISTERED NUMBER: SC693923 (Scotland)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Pirie Property Management Ltd

Pirie Property Management Ltd (Registered number: SC693923)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pirie Property Management Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M D Pirie
K J Pirie





REGISTERED OFFICE: Ardnish House
28 St James Road
Forfar
DD8 1LG





REGISTERED NUMBER: SC693923 (Scotland)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

Pirie Property Management Ltd (Registered number: SC693923)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 125,000 101,000

CURRENT ASSETS
Debtors 5 10,525 -
Cash at bank and in hand 22,077 16,474
32,602 16,474
CREDITORS
Amounts falling due within one year 6 (132,814 ) (114,470 )
NET CURRENT LIABILITIES (100,212 ) (97,996 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,788

3,004

PROVISIONS FOR LIABILITIES (5,382 ) (822 )
NET ASSETS 19,406 2,182

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 9 22,945 3,505
Retained earnings 9 (3,541 ) (1,325 )
19,406 2,182

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Pirie Property Management Ltd (Registered number: SC693923)

Balance Sheet - continued
31 March 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 19 February 2025 and were signed on its behalf by:





K J Pirie - Director


Pirie Property Management Ltd (Registered number: SC693923)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Pirie Property Management 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.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 NIL (2023 - NIL).

Pirie Property Management Ltd (Registered number: SC693923)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 101,000
Revaluations 24,000
At 31 March 2024 125,000
NET BOOK VALUE
At 31 March 2024 125,000
At 31 March 2023 101,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 4,327
Valuation in 2024 24,000
Cost 96,673
125,000

Properties are required to be disclosed within the financial statements at fair value.

The valuation was made by directors on an open market value basis by reference to market evidence of transaction prices for similar properties. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 10,525 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 7) 69,499 69,499
Directors' current accounts 60,417 44,023
Accruals and deferred income 2,898 948
132,814 114,470

Pirie Property Management Ltd (Registered number: SC693923)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 69,499 69,499

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage 69,499 69,499

9. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

FAIR VALUE RESERVES
The Company uses the revaluation model for the measurement of its investment properties. The reserve records the revaluation surplus recognised less the related provision for deferred tax. This is a non distributable reserve.