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REGISTERED NUMBER: SC572751 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

ROTUNDA PROPERTIES LIMITED

ROTUNDA PROPERTIES LIMITED (REGISTERED NUMBER: SC572751)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

ROTUNDA PROPERTIES LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTOR: H H Munro





REGISTERED OFFICE: 16 Royal Terrace
Glasgow
G3 7NY





REGISTERED NUMBER: SC572751 (Scotland)





ACCOUNTANTS: Davidson & Workman
16 Royal Terrace
Glasgow
G3 7NY

ROTUNDA PROPERTIES LIMITED (REGISTERED NUMBER: SC572751)

BALANCE SHEET
31 May 2024

31.5.24 31.5.23
Notes £    £    £   
FIXED ASSETS
Investment property 4 - 2,664,473

CURRENT ASSETS
Debtors 5 457,770 39,500
Cash at bank and in hand 198 8,894
457,968 48,394
CREDITORS
Amounts falling due within one year 6 400,845 222,044
NET CURRENT ASSETS/(LIABILITIES) 57,123 (173,650 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,123

2,490,823

CREDITORS
Amounts falling due after more than one year 7 24,634 2,086,009
NET ASSETS 32,489 404,814

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 - 460,527
Retained earnings 10 32,389 (55,813 )
SHAREHOLDERS' FUNDS 32,489 404,814

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ROTUNDA PROPERTIES LIMITED (REGISTERED NUMBER: SC572751)

BALANCE SHEET - continued
31 May 2024


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 director and authorised for issue on 25 April 2025 and were signed by:





H H Munro - Director


ROTUNDA PROPERTIES LIMITED (REGISTERED NUMBER: SC572751)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Rotunda 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.

The financial statements are prepared in sterling, which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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.

ROTUNDA PROPERTIES LIMITED (REGISTERED NUMBER: SC572751)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash generating unit) is estimated to be less than it's carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash generating unit) is increased to the revised estimate of its recoverable amount but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation surplus.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 2,664,473
Disposals (2,664,473 )
At 31 May 2024 -
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 2,664,473

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2022 921,054
Valuation in 2023 (460,527 )
Valuation in 2024 (460,527 )

ROTUNDA PROPERTIES LIMITED (REGISTERED NUMBER: SC572751)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors - 39,500
Amounts due from associate coy 457,770 -
457,770 39,500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts (see note 8) 8,621 153,871
Tax 387,924 -
Other creditors - 24,925
Amounts due to associate coys 4,300 11,372
Directors' current accounts - 20,470
Accruals and deferred income - 11,406
400,845 222,044

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans (see note 8) 24,634 2,086,009

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 1,470,525

8. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 8,621 153,871

Amounts falling due between one and two years:
Bank loans - 1-2 years 8,621 153,871

Amounts falling due between two and five years:
Bank loans - 2-5 years 16,013 461,613

Amounts falling due in more than five years:

ROTUNDA PROPERTIES LIMITED (REGISTERED NUMBER: SC572751)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

8. LOANS - continued
31.5.24 31.5.23
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal - 1,470,525

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
10 Ordinary 10 10 10
50 Class A Ordinary 50 50 50
40 Class B Ordinary 40 40 40
100 100

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 June 2023 (55,813 ) 460,527 404,714
Profit for the year 1,181,402 1,181,402
Dividends (1,093,200 ) (1,093,200 )
Revaluation in year - (460,527 ) (460,527 )
At 31 May 2024 32,389 - 32,389

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 May 2024 and the period ended 31 May 2023:

31.5.24 31.5.23
£    £   
H H Munro
Balance outstanding at start of year (20,470 ) (10,875 )
Amounts advanced 20,470 28,335
Amounts repaid - (37,930 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (20,470 )

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ROTUNDA PROPERTIES LIMITED

The following reproduces the text of the report prepared for the director 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 Director 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 Rotunda Properties Limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the director of Rotunda Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rotunda Properties Limited and state those matters that we have agreed to state to the director of Rotunda Properties Limited in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Rotunda 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 Rotunda Properties Limited. You consider that Rotunda 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 Rotunda 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.






Davidson & Workman
16 Royal Terrace
Glasgow
G3 7NY


25 April 2025