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REGISTERED NUMBER: SC224103 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Code (The Bindery) Limited

Previously known as
Ashford Property Group Limited

Code (The Bindery) Limited (Registered number: SC224103)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Code (The Bindery) Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: A R Smith
S G Bell
A D Landsburgh
M B G Hay





REGISTERED OFFICE: Bearford House
39 Hanover Street
Edinburgh
EH2 2PJ





REGISTERED NUMBER: SC224103 (Scotland)





ACCOUNTANT: CWH Accounting
Mount Pleasant
Heads Nook
Brampton
Carlisle
Cumbria
CA8 9EH

Code (The Bindery) Limited (Registered number: SC224103)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,238,013 5,500,000

CURRENT ASSETS
Debtors 5 10,537 82
Cash at bank 29,916 613
40,453 695
CREDITORS
Amounts falling due within one year 6 471,147 344,576
NET CURRENT LIABILITIES (430,694 ) (343,881 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,807,319

5,156,119

CREDITORS
Amounts falling due after more than
one year

7

(2,750,715

)

(2,023,804

)

PROVISIONS FOR LIABILITIES (978,904 ) (728,904 )
NET ASSETS 3,077,700 2,403,411

Code (The Bindery) Limited (Registered number: SC224103)

Balance Sheet - continued
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 105 105
Revaluation reserve 9 3,321,873 2,571,873
Retained earnings (244,278 ) (168,567 )
3,077,700 2,403,411

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 15 December 2024 and were signed on its behalf by:





S G Bell - Director


Code (The Bindery) Limited (Registered number: SC224103)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Code (The Bindery) 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property

Tangible fixed assets relates to freehold property currently under construction and no depreciation will be charged until complete and in use.

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 4 (2023 - 2 ) .

Code (The Bindery) Limited (Registered number: SC224103)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 October 2023 5,500,000
Additions 738,013
Revaluations 1,000,000
At 30 September 2024 7,238,013
NET BOOK VALUE
At 30 September 2024 7,238,013
At 30 September 2023 5,500,000

Cost or valuation at 30 September 2024 is represented by:

Land and
buildings
£   
Valuation in 2018 1,001,385
Valuation in 2020 3,625,000
Valuation in 2022 (564,006 )
Valuation in 2023 (761,600 )
Valuation in 2024 1,000,000
Cost 2,937,234
7,238,013

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 10,537 82

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 359,646 52,919
Other creditors 111,501 291,657
471,147 344,576

Code (The Bindery) Limited (Registered number: SC224103)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.24 30.9.23
£    £   
Amounts owed to participating interests 2,750,715 -
Other creditors - 2,023,804
2,750,715 2,023,804

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   

After the Balance Sheet date, the company received loans from the Royal Bank of Scotland against which the properties, 20-22 and 21 Thistle Street, North West Lane. EH2 1EA are secured.

9. RESERVES
Revaluatio
reserve
£   
At 1 October 2023 2,571,873
Deferred Tax Movement (250,000 )
Revaluation 1,000,000

At 30 September 2024 3,321,873