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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
Page
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Flat Earth Properties Limited Company Information for the year ended 31 January 2025
Director
Ian Malcolm
Secretary
Ian Malcolm
Company Number
SC182580 (Scotland)
Registered Office
1 Park Road Eskbank Dalkeith Midlothian EH22 3DF Scotland
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Flat Earth Properties Limited Statement of financial position as at 31 January 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
69 
Investment property
- 
390,000 
- 
390,069 
Current assets
Debtors
- 
1,144 
Cash at bank and in hand
951,032 
484,408 
951,032 
485,552 
Creditors: amounts falling due within one year
(35,199)
(48,438)
Net current assets
915,833 
437,114 
Net assets
915,833 
827,183 
Capital and reserves
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
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Flat Earth Properties Limited Notes to the Accounts for the year ended 31 January 2025
1
Statutory information
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.
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.
Turnover
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:
Fixtures & fittings
25%
Investment property
Investment properties are included at director's valuation and are disclosed in the Balance Sheet as investments.
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Flat Earth Properties Limited Notes to the Accounts for the year ended 31 January 2025
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 February 2024
23,168 
At 31 January 2025
23,168 
Depreciation
At 1 February 2024
23,099 
Charge for the year
69 
At 31 January 2025
23,168 
Net book value
At 31 January 2025
- 
At 31 January 2024
69 
5
Investment property
2025 
£ 
Fair value at 1 February 2024
390,000 
Disposals
(390,000)
At 31 January 2025
- 
Investment properties have been valued at fair value by Ian Malcolm.
6
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
- 
1,144 
7
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
Trade creditors
- 
72 
Taxes and social security
22,819 
79,166 
Other creditors
800 
720 
Loans from directors
11,580 
(31,520)
35,199 
48,438 
Creditors due after one year are director's loans.
9
Share capital
2025 
2024 
£ 
£ 
Allotted, called up and fully paid:
50,000 Ordinary shares of £1 each
50,000 
50,000 
10
Controlling party
The ultimate controlling party of the company is Mr I Malcolm, who holds 100% of the issued share capital.
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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).
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