REGISTERED NUMBER: SC034846 (Scotland)

Unaudited Financial Statements

for the Year Ended 8 April 2024

for

Sidnor Property Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs K S Paterson LLB

Mr A B W Smith LLB

REGISTERED OFFICE:

Messrs Brown & McRae

Anderson House

9-15 Frithside Street

Fraserburgh

Aberdeenshire

AB43 9AB

REGISTERED NUMBER:

SC034846 (Scotland)

ACCOUNTANTS:

SBP

Accountants

27 Finlayson Street

Fraserburgh

Aberdeenshire

AB43 9JQ

FIXED ASSETS

Investment property

4

52,000

147,800

CREDITORS

Amounts falling due within one year

5

2,733

2,314

NET CURRENT LIABILITIES

(2,733

)

(2,314

)

TOTAL ASSETS LESS CURRENT LIABILITIES

49,267

145,486

CAPITAL AND RESERVES

Called up share capital

3

3

Revaluation reserve

6

49,915

145,715

Capital redemption reserve

2

2

Retained earnings

(653

)

(234

)

SHAREHOLDERS' FUNDS

49,267

145,486

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 8 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 8 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2025 and were signed on its behalf by:

Mrs K S Paterson LLB - Director

1.	STATUTORY INFORMATION

Sidnor Property 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.

Investment property

Investment property is reported at fair value. The land and property held was revalued by the directors in the 2012 financial year and a revised revaluation was carried out in the current year based on known future disposals.

Any gains or losses are recognised directly against the revaluation reserve as per the longstanding policy. No deferred taxation is recognised on any potential gains.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

No Corporation Tax liability arose in the current year. No deferred taxation is recognised on any potential gains on investment disposal.

Debtors and creditors receivable /payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative costs.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 9 April 2023

147,800

Revaluations

(95,800

)

At 8 April 2024

52,000

NET BOOK VALUE

At 8 April 2024

52,000

At 8 April 2023

147,800

Fair value at 8 April 2024 is represented by:

£

Valuation in 1998

6,900

Valuation in 2012

138,910

Valuation in 2019

(95

)

Valuation in 2024

(95,800

)

Cost

2,085

52,000

The Investment Property was revalued by the directors in the 2012 financial year and a revised revaluation was carried out in the current year based on a known future disposal with an estimation made by the directors of the current value of the investment assets that will remain.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

8.4.24

8.4.23

£

£

Other creditors

2,733

2,314

6.

RESERVES

Revaluation

reserve

£

At 9 April 2023

145,715

Investment Property

Revaluation

(95,800

)

At 8 April 2024

49,915

7.	RELATED PARTY DISCLOSURES

The director, Mrs K.Paterson, operates a loan account with the company and as at the financial year end the balance owing to her was £755 (2023: £755). Whilst the loan is considered short term, there are no fixed terms of repayment and no interest is accrued.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs K S Paterson LLB.