Company registration number SC469336 (Scotland)
Hogan Properties (Aberdeen) Ltd
Unaudited financial statements
for the year ended 28 February 2024
Pages for filing with registrar
Hogan Properties (Aberdeen) Ltd
Chartered Accountants' report to the director on the preparation of the
unaudited statutory financial statements of Hogan Properties (Aberdeen) Ltd
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hogan Properties (Aberdeen) Ltd for the year ended 28 February 2024 which comprise, the statement of financial position 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 ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the director of Hogan Properties (Aberdeen) Ltd, in accordance with the terms of our engagement letter dated 3 May 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Hogan Properties (Aberdeen) Ltd and state those matters that we have agreed to state to the director of Hogan Properties (Aberdeen) Ltd, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hogan Properties (Aberdeen) Ltd and its director for our work or for this report.

It is your duty to ensure that Hogan Properties (Aberdeen) Ltd 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 loss of Hogan Properties (Aberdeen) Ltd. You consider that Hogan Properties (Aberdeen) Ltd 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 Hogan Properties (Aberdeen) Ltd. 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.

James Milne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB11 6XZ
20 March 2025
Hogan Properties (Aberdeen) Ltd
Statement of financial position
as at 28 February 2024
28 February 2024
2
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
2
5,165
6,790
Investment properties
3
450,000
500,000
455,165
506,790
Current assets
Debtors
4,810
2,595
Cash at bank and in hand
37,633
32,730
42,443
35,325
Creditors: amounts falling due within one year
(582,751)
(575,418)
Net current liabilities
(540,308)
(540,093)
Net assets
(85,143)
(33,303)
Capital and reserves
Called up share capital
10
10
Revaluation reserve
(103,408)
(53,408)
Profit and loss reserves
18,255
20,095
Total equity
(85,143)
(33,303)

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Hogan Properties (Aberdeen) Ltd
Statement of financial position (continued)
as at 28 February 2024
28 February 2024
3
The financial statements were approved and signed by the director and authorised for issue on 17 March 2025
Dr Sheena Hogan
Director
Company Registration No. SC469336
Hogan Properties (Aberdeen) Ltd
Notes to the financial statements
for the year ended 28 February 2024
4
1
Accounting policies
Company information

Hogan Properties (Aberdeen) Ltd is a private company limited by shares incorporated in Scotland. The registered office is 5 Bon Accord Square, Aberdeen, AB11 6XZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents revenue recognised in the accounts. Revenue is recognised when the business fulfils its contractual obligations to customers by supplying goods and services.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
3 years straight line and 15% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Hogan Properties (Aberdeen) Ltd
Notes to the financial statements (continued)
for the year ended 28 February 2024
5
2
Tangible fixed assets
Total
£
Cost
At 1 March 2023 and 28 February 2024
28,879
Depreciation and impairment
At 1 March 2023
22,089
Depreciation charged in the year
1,625
At 28 February 2024
23,714
Carrying amount
At 28 February 2024
5,165
At 28 February 2023
6,790
3
Investment property
2024
£
Fair value
At 1 March 2023
500,000
Revaluations
(50,000)
At 28 February 2024
450,000
Hogan Properties (Aberdeen) Ltd
Notes to the financial statements (continued)
for the year ended 28 February 2024
6
4
Directors' transactions

During the year the director entered into the following advances and credits with the company:

Description
Opening credit                balance
Amounts advanced
Amounts repaid
Closing                                credit                            balance
£
£
£
£
Dr Sheena Hogan - Director's loan
573,156
9,020
(1,758)
580,418
573,156
9,020
(1,758)
580,418
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