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REGISTERED NUMBER: SC770592 (Scotland)













Unaudited Financial Statements

for the Period 25 May 2023 to 31 May 2024

for

Minard Property Ltd

Minard Property Ltd (Registered number: SC770592)






Contents of the Financial Statements
for the Period 25 May 2023 to 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Minard Property Ltd

Company Information
for the Period 25 May 2023 to 31 May 2024







DIRECTOR: C W Perkins





REGISTERED OFFICE: 93 Princes Street
Ardrossan
KA22 8DQ





REGISTERED NUMBER: SC770592 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

Minard Property Ltd (Registered number: SC770592)

Balance Sheet
31 May 2024

Notes £    £   
FIXED ASSETS
Investment property 4 210,000

CURRENT ASSETS
Debtors 5 4,784
Cash at bank 4,421
9,205
CREDITORS
Amounts falling due within one year 6 27,680
NET CURRENT LIABILITIES (18,475 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,525

CREDITORS
Amounts falling due after more than one
year

7

(178,951

)

PROVISIONS FOR LIABILITIES (6,424 )
NET ASSETS 6,150

CAPITAL AND RESERVES
Called up share capital 100
Fair value reserve 9 19,270
Retained earnings (13,220 )
6,150

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

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

Minard Property Ltd (Registered number: SC770592)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 February 2025 and were signed by:





C W Perkins - Director


Minard Property Ltd (Registered number: SC770592)

Notes to the Financial Statements
for the Period 25 May 2023 to 31 May 2024

1. STATUTORY INFORMATION

Minard Property 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.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less impairment. Loans receivable are measured at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the period 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 period 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.

Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Minard Property Ltd (Registered number: SC770592)

Notes to the Financial Statements - continued
for the Period 25 May 2023 to 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
Additions 184,306
Revaluations 25,694
At 31 May 2024 210,000
NET BOOK VALUE
At 31 May 2024 210,000

The investment property was valued on a fair value basis on 31 May 2024 by the director.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 3,990
Other debtors 794
4,784

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts 6,000
Trade creditors 1,086
Other creditors 20,594
27,680

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Bank loans 116,451
Other creditors 62,500
178,951

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 81,451

Minard Property Ltd (Registered number: SC770592)

Notes to the Financial Statements - continued
for the Period 25 May 2023 to 31 May 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

£   
Bank loans 122,451

The bank loan is secured by a standard security over the investment property owned by the company.

9. RESERVES
Fair
value
reserve
£   
Investment property
revaluation reclassification 19,270

At 31 May 2024 19,270

10. ULTIMATE CONTROLLING PARTY

The controlling party is C W Perkins.