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REGISTERED NUMBER: SC060923 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Arnloss Management
Company(AMC)Limited

Arnloss Management
Company(AMC)Limited (Registered number: SC060923)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 5


Arnloss Management
Company(AMC)Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Lynn Walker
Rhona Jane Walker
Hollie Anne Walker





SECRETARY: Lynn Walker





REGISTERED OFFICE: 'Blairnile'
Golf Course Road
Balmore
Glasgow
G64 4AW





REGISTERED NUMBER: SC060923 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Arnloss Management
Company(AMC)Limited (Registered number: SC060923)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,408,926 3,409,029

CURRENT ASSETS
Debtors 5 42,146 -
Cash at bank 45,904 37,517
88,050 37,517
CREDITORS
Amounts falling due within one year 6 189,753 201,764
NET CURRENT LIABILITIES (101,703 ) (164,247 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,307,223

3,244,782

PROVISIONS FOR LIABILITIES 7 318,800 318,800
NET ASSETS 2,988,423 2,925,982

CAPITAL AND RESERVES
Called up share capital 8 100 100
Capital reserve 9 247,500 247,500
Fair value reserve 9 2,082,429 2,082,429
Retained earnings 9 658,394 595,953
SHAREHOLDERS' FUNDS 2,988,423 2,925,982

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

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

Arnloss Management
Company(AMC)Limited (Registered number: SC060923)

Balance Sheet - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

Arnloss Management
Company(AMC)Limited (Registered number: SC060923)

Balance Sheet - continued
31 May 2024



The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2025 and were signed on its behalf by:





Rhona Jane Walker - Director


Arnloss Management
Company(AMC)Limited (Registered number: SC060923)

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

1. STATUTORY INFORMATION

Arnloss Management Company(AMC)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.

Turnover
Turnover represents rental income received.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Heritable property - not provided
Fittings and equipment - 10% on reducing balance

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Arnloss Management
Company(AMC)Limited (Registered number: SC060923)

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fittings
Heritable and
property equipment Totals
£    £    £   
COST OR VALUATION
At 1 June 2023
and 31 May 2024 3,408,000 32,559 3,440,559
DEPRECIATION
At 1 June 2023 - 31,530 31,530
Charge for year - 103 103
At 31 May 2024 - 31,633 31,633
NET BOOK VALUE
At 31 May 2024 3,408,000 926 3,408,926
At 31 May 2023 3,408,000 1,029 3,409,029

Cost or valuation at 31 May 2024 is represented by:

Fittings
Heritable and
property equipment Totals
£    £    £   
Valuation in 2022 3,408,000 - 3,408,000
Cost - 32,559 32,559
3,408,000 32,559 3,440,559

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

2024 2023
£    £   
Cost 1,007,100 1,007,100

The market values of the investment properties have been arrived at on the basis of a valuation carried out on 15 May 2022 by the directors of the company who are not professionally qualified valuers. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in their location and takes into account the state of the rental market in the areas where the properties are situated.

Arnloss Management
Company(AMC)Limited (Registered number: SC060923)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 42,146 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 30,094 15,055
Other creditors 159,659 186,709
189,753 201,764

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 318,800 318,800

Deferred
tax
£   
Balance at 1 June 2023 318,800
Deferred tax on property
revaluation
Balance at 31 May 2024 318,800

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RESERVES

Fair value reserve arose as a result of the revaluation of the company's properties in 2017.


The capital reserve of £247,500 (2023 - £247,500) represents the value of property bequeathed to the company by a relative of the directors.

Arnloss Management
Company(AMC)Limited (Registered number: SC060923)

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

10. RELATED PARTY DISCLOSURES

In addition to its own property dealings, the company manages properties owned by the directors.

Rental payments were made by the company during the year of £1100 to Lynn Walker (2023 - £1100) , these dealings being carried out on normal commercial terms.

Property includes (at cost):

1) £25,667 representing the cost of 1/4 of the title of 68 (3/1) Lauderdale Gardens, Glasgow, the remainder held equally by Lynn, Rhona and Hollie Walker.

2) £10,666 representing the cost of 1/3 of the title of Flats 1+2, 7 Greenock Road, Paisley, the reminder held by Lynn Walker (1/3) and Rhona and Hollie Walker (1/6 each).

3) £247,500 representing 1/2 share of 113 Sugden Road, London, the remaining 1/2 held by Rhona and Hollie Walker.

4) £28,268 representing half share of 3/2, 60 Airlie Street, Glasgow, the remaining 1/2 held by Rhona and Hollie Walker.



11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors, as noted in the Directors Report..