Company Registration No. SC182580 (Scotland)
Flat Earth Properties Limited
Unaudited accounts
for the year ended 31 January 2025
Flat Earth Properties Limited
Unaudited accounts
Contents
Flat Earth Properties Limited
Company Information
for the year ended 31 January 2025
Company Number
SC182580 (Scotland)
Registered Office
1 Park Road
Eskbank
Dalkeith
Midlothian
EH22 3DF
Scotland
Flat Earth Properties Limited
Statement of financial position
as at 31 January 2025
Investment property
-
390,000
Cash at bank and in hand
951,032
484,408
Creditors: amounts falling due within one year
(35,199)
(48,438)
Net current assets
915,833
437,114
Net assets
915,833
827,183
Called up share capital
50,000
50,000
Revaluation reserve
-
125,225
Profit and loss account
865,833
651,958
Shareholders' funds
915,833
827,183
For the year ending 31 January 2025 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 5 April 2025 and were signed on its behalf by
Ian Malcolm
Director
Company Registration No. SC182580
Flat Earth Properties Limited
Notes to the Accounts
for the year ended 31 January 2025
Flat Earth Properties Limited is a private company, limited by shares, registered in Scotland, registration number SC182580. The registered office is 1 Park Road, Eskbank, Dalkeith, Midlothian, EH22 3DF, Scotland.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents rents and sundry income from customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Investment properties are included at director's valuation and are disclosed in the Balance Sheet as investments.
Flat Earth Properties Limited
Notes to the Accounts
for the year ended 31 January 2025
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 February 2024
390,000
Investment properties have been valued at fair value by Ian Malcolm.
Amounts falling due within one year
Accrued income and prepayments
-
1,144
7
Creditors: amounts falling due within one year
2025
2024
Taxes and social security
22,819
79,166
Loans from directors
11,580
(31,520)
Creditors due after one year are director's loans.
Allotted, called up and fully paid:
50,000 Ordinary shares of £1 each
50,000
50,000
The ultimate controlling party of the company is Mr I Malcolm, who holds 100% of the issued share capital.
Flat Earth Properties Limited
Notes to the Accounts
for the year ended 31 January 2025
11
Average number of employees
During the year the average number of employees was 1 (2024: 1).