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REGISTERED NUMBER: SC194861 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Tay-City Properties Limited

Tay-City Properties Limited (Registered number: SC194861)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Tay-City Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs J De Melo
A De Melo





REGISTERED OFFICE: Unit 4 F1 27 Distribution Road
Macmerry Industrial Estate
Tranent
East Lothian
EH33 1RD





REGISTERED NUMBER: SC194861 (Scotland)





ACCOUNTANTS: SYKAM & Co
19 Greek Thomson Road
Balfron
Glasgow
G63 0RE

Tay-City Properties Limited (Registered number: SC194861)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,461 3,156
Investment property 5 1,000,000 1,000,000
1,001,461 1,003,156

CURRENT ASSETS
Development property 101,801 101,801
Debtors 6 54,848 65,483
Cash at bank 1,280 7,900
157,929 175,184
CREDITORS
Amounts falling due within one year 7 222,076 235,051
NET CURRENT LIABILITIES (64,147 ) (59,867 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

937,314

943,289

CREDITORS
Amounts falling due after more than
one year

8

382,757

397,294
NET ASSETS 554,557 545,995

Tay-City Properties Limited (Registered number: SC194861)

Balance Sheet - continued
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 9 186,579 186,579
Retained earnings 367,878 359,316
554,557 545,995

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 20 March 2025 and were signed on its behalf by:





A De Melo - Director


Tay-City Properties Limited (Registered number: SC194861)

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

1. STATUTORY INFORMATION

Tay-City Properties 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.

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.

Development property
Development property is valued at the lower of cost and net realisable value.

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.

Tay-City Properties Limited (Registered number: SC194861)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 6,546
DEPRECIATION
At 1 April 2023 3,390
Charge for year 1,695
At 31 March 2024 5,085
NET BOOK VALUE
At 31 March 2024 1,461
At 31 March 2023 3,156

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,000,000
NET BOOK VALUE
At 31 March 2024 1,000,000
At 31 March 2023 1,000,000

Tay-City Properties Limited (Registered number: SC194861)

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

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2020 150,000
Valuation in 2021 150,000
Valuation in 2022 (250,000 )
Valuation in 2023 (200,000 )
Cost 1,150,000
1,000,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 13,999 24,634
Other debtors 40,849 40,849
54,848 65,483

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 17,829 15,388
Taxation and social security 53,706 72,825
Other creditors 150,541 146,838
222,076 235,051

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 382,757 397,294

9. RESERVES
Non-distributable
reserve
£   
At 1 April 2023
and 31 March 2024 186,579

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Tay-City Properties Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tay-City Properties Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Tay-City Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tay-City Properties Limited and state those matters that we have agreed to state to the Board of Directors of Tay-City Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tay-City Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Tay-City Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tay-City Properties Limited. You consider that Tay-City Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Tay-City Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






SYKAM & Co
19 Greek Thomson Road
Balfron
Glasgow
G63 0RE


20 March 2025