1 July 2023 false Taxfiler 2024.6 SC721111business:PrivateLimitedCompanyLtd2023-07-012024-06-30 SC7211112023-06-30 SC7211112023-07-012024-06-30 SC721111business:AuditExempt-NoAccountantsReport2023-07-012024-06-30 SC721111business:FilletedAccounts2023-07-012024-06-30 SC7211112024-06-30 SC721111business:Director12023-07-012024-06-30 SC721111business:RegisteredOffice2023-07-012024-06-30 SC7211112023-06-30 SC721111core:WithinOneYear2024-06-30 SC721111core:WithinOneYear2023-06-30 SC721111core:AfterOneYear2024-06-30 SC721111core:AfterOneYear2023-06-30 SC721111core:ShareCapitalcore:PreviouslyStatedAmount2024-06-30 SC721111core:ShareCapitalcore:PreviouslyStatedAmount2023-06-30 SC721111core:InvestmentPropertiesRevaluationReservecore:PreviouslyStatedAmount2024-06-30 SC721111core:InvestmentPropertiesRevaluationReservecore:PreviouslyStatedAmount2023-06-30 SC721111core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-06-30 SC721111core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-06-30 SC721111core:PreviouslyStatedAmount2024-06-30 SC721111core:PreviouslyStatedAmount2023-06-30 SC721111business:SmallEntities2023-07-012024-06-30 SC721111countries:Scotland2023-07-012024-06-30 SC721111core:WithinOneYear2023-07-012024-06-30 SC721111core:AfterOneYear2023-07-012024-06-30 SC721111business:OrdinaryShareClass12023-07-012024-06-30 SC721111business:OrdinaryShareClass12022-01-262023-06-30 SC7211112022-01-262023-06-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. SC721111 (Scotland)
SINGER PROPERTY SOLUTIONS LTD Unaudited accounts for the year ended 30 June 2024
SINGER PROPERTY SOLUTIONS LTD Unaudited accounts Contents
Page
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SINGER PROPERTY SOLUTIONS LTD Company Information for the year ended 30 June 2024
Director
Steven J Singer
Company Number
SC721111 (Scotland)
Registered Office
56 Margaret Place Aberdeen Aberdeenshire AB10 7GB United Kingdom
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SINGER PROPERTY SOLUTIONS LTD Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
385,000 
190,000 
Current assets
Debtors
4,931 
500 
Cash at bank and in hand
1,366 
26,812 
6,297 
27,312 
Creditors: amounts falling due within one year
(118,718)
(50,839)
Net current liabilities
(112,421)
(23,527)
Total assets less current liabilities
272,579 
166,473 
Creditors: amounts falling due after more than one year
(226,071)
(127,877)
Provisions for liabilities
Deferred tax
(8,836)
(7,333)
Net assets
37,672 
31,263 
Capital and reserves
Called up share capital
1 
1 
Fair value reserve
59,125 
39,093 
Profit and loss account
(21,454)
(7,831)
Shareholders' funds
37,672 
31,263 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 March 2025 and were signed on its behalf by
Steven J Singer Director Company Registration No. SC721111
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SINGER PROPERTY SOLUTIONS LTD Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
SINGER PROPERTY SOLUTIONS LTD is a private company, limited by shares, registered in Scotland, registration number SC721111. The registered office is 56 Margaret Place, Aberdeen, Aberdeenshire, AB10 7GB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
4
Investment property
2024 
£ 
Fair value at 1 July 2023
190,000 
Additions
170,269 
Net gain from fair value adjustments
24,731 
At 30 June 2024
385,000 
The historic cost of the above investment properties totals £312,006 (2023: £141,737). The fair value of the properties has been arrived at by the director of the company on 30 June 2024 on a market value basis.
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SINGER PROPERTY SOLUTIONS LTD Notes to the Accounts for the year ended 30 June 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
4,931 
500 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
63,746 
- 
Loans from directors
54,972 
50,839 
118,718 
50,839 
The mortgages included within bank loans are secured over the properties to which they relate. The directors have also provided personal guarantees in relation to these.
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
176,071 
77,877 
Loans from directors
50,000 
50,000 
226,071 
127,877 
The mortgages included within bank loans are secured over the properties to which they relate. The directors have also provided personal guarantees in relation to these.
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Transactions with related parties
Included within creditors due within 1 year is £54,972 (2023: £50,839) due to the company director. The loan is interest free and payable on demand. Included within creditors due more than 1 year is £50,000 (2023: £50,000) due to the company director. The loan is subject to 5% interest per annum and a 3 year lending period.
10
Average number of employees
During the year the average number of employees was 1 (2023: 0).
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