Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Caroline Jane Davies John Peter Shaw Gray 20 February 2025 The principal activity of the Company during the financial year continued to be property letting and development. SC016826 2024-06-30 SC016826 2023-06-30 SC016826 core:CurrentFinancialInstruments 2024-06-30 SC016826 core:CurrentFinancialInstruments 2023-06-30 SC016826 core:ShareCapital 2024-06-30 SC016826 core:ShareCapital 2023-06-30 SC016826 core:RevaluationReserve 2024-06-30 SC016826 core:RevaluationReserve 2023-06-30 SC016826 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC016826 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC016826 bus:OrdinaryShareClass1 2024-06-30 SC016826 2023-07-01 2024-06-30 SC016826 bus:FilletedAccounts 2023-07-01 2024-06-30 SC016826 bus:SmallEntities 2023-07-01 2024-06-30 SC016826 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC016826 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC016826 bus:Director1 2023-07-01 2024-06-30 SC016826 bus:Director2 2023-07-01 2024-06-30 SC016826 2022-07-01 2023-06-30 SC016826 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 SC016826 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC016826 (Scotland)

ABERDEEN & DISTRICT PROPERTY COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

ABERDEEN & DISTRICT PROPERTY COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

ABERDEEN & DISTRICT PROPERTY COMPANY LIMITED

BALANCE SHEET

AS AT 30 JUNE 2024
ABERDEEN & DISTRICT PROPERTY COMPANY LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 889,617 889,617
889,617 889,617
Current assets
Debtors 4 2,917 2,882
Cash at bank and in hand 5 447,571 493,068
450,488 495,950
Creditors: amounts falling due within one year 6 ( 134,791) ( 3,765)
Net current assets 315,697 492,185
Total assets less current liabilities 1,205,314 1,381,802
Net assets 1,205,314 1,381,802
Capital and reserves
Called-up share capital 7 3,000 3,000
Revaluation reserve 770,723 770,723
Profit and loss account 431,591 608,079
Total shareholders' funds 1,205,314 1,381,802

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 Aberdeen & District Property Company Limited (registered number: SC016826) were approved and authorised for issue by the Board of Directors on 20 February 2025. They were signed on its behalf by:

Caroline Jane Davies
Director
ABERDEEN & DISTRICT PROPERTY COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
ABERDEEN & DISTRICT PROPERTY COMPANY 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

Aberdeen & District Property Company 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 9 Albert Terrace, Aberdeen, AB10 1XY, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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.

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 bank balances, are measured at transaction price including transaction costs.

Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.

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 at transaction price.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 July 2023 889,617
As at 30 June 2024 889,617

Valuation

The valuations of investment properties were made at 30 June 2024 by Mrs C Davies, a director and secretary of the company, on an open market basis. No depreciation is provided in respect of these properties.

On a historical cost basis these would of been included at an original cost of £124,761.

4. Debtors

2024 2023
£ £
Other debtors 2,917 2,882

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 447,571 493,068

6. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 134,791 3,765

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
3,000 Ordinary shares of £ 1.00 each 3,000 3,000