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REGISTERED NUMBER: SC650224 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Balgowan Property Investments Ltd

Balgowan Property Investments Ltd (Registered number: SC650224)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Balgowan Property Investments Ltd (Registered number: SC650224)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,927 7,888
Investment property 5 185,053 185,053
190,980 192,941

CURRENT ASSETS
Cash at bank 7,960 9,093

CREDITORS
Amounts falling due within one year 6 (144,360 ) (91,836 )
NET CURRENT LIABILITIES (136,400 ) (82,743 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,580

110,198

CREDITORS
Amounts falling due after more than one
year

7

(23,781

)

(91,072

)

PROVISIONS FOR LIABILITIES (1,126 ) (1,499 )
NET ASSETS 29,673 17,627

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 29,573 17,527
29,673 17,627

Balgowan Property Investments Ltd (Registered number: SC650224)

Balance Sheet - continued
31 December 2024


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

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

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 24 February 2025 and were signed on its behalf by:





Mr D Scott - Director


Balgowan Property Investments Ltd (Registered number: SC650224)

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

1. STATUTORY INFORMATION

Balgowan Property Investments Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC650224. The registered office is Algo Business Centre, Glenearn Road, Perth, PH2 0NJ.

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.

Turnover
Turnover represents rents receivable.

Rental income is recognised on a straight line basis over the term of the lease.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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.

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.

Balgowan Property Investments Ltd (Registered number: SC650224)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 454 13,950 14,404
DEPRECIATION
At 1 January 2024 249 6,267 6,516
Charge for year 41 1,920 1,961
At 31 December 2024 290 8,187 8,477
NET BOOK VALUE
At 31 December 2024 164 5,763 5,927
At 31 December 2023 205 7,683 7,888

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 185,053
NET BOOK VALUE
At 31 December 2024 185,053
At 31 December 2023 185,053

Balgowan Property Investments Ltd (Registered number: SC650224)

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

5. INVESTMENT PROPERTY - continued

Valuation

The fair value of the investment properties held by the business have been based on the purchase price of
each commercial property plus directly attributable costs. Prior to being purchased, the properties were
valued by Graham and Sibbald who are not connected to the company. The directors still consider this to be
a true reflection of the fair value of the properties at 31 December 2024.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 5,184 8,491
Taxation and social security 3,433 1,319
Other creditors 135,743 82,026
144,360 91,836

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 23,781 91,072

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,046 57,109

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans - 65,416

Bank loans are secured by standard security over the company's assets.