2 2 Tamsal Property Ltd SC742469 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is letting and operating of own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true SC742469 2023-09-01 2024-08-31 SC742469 2024-08-31 SC742469 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC742469 core:ShareCapital 2024-08-31 SC742469 core:CurrentFinancialInstruments 2024-08-31 SC742469 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 SC742469 core:Non-currentFinancialInstruments 2024-08-31 SC742469 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 SC742469 bus:SmallEntities 2023-09-01 2024-08-31 SC742469 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC742469 bus:FilletedAccounts 2023-09-01 2024-08-31 SC742469 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC742469 bus:RegisteredOffice 2023-09-01 2024-08-31 SC742469 bus:Director1 2023-09-01 2024-08-31 SC742469 bus:Director2 2023-09-01 2024-08-31 SC742469 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC742469 bus:Agent1 2023-09-01 2024-08-31 SC742469 countries:Scotland 2023-09-01 2024-08-31 SC742469 2023-08-31 SC742469 2022-08-25 2023-08-31 SC742469 2023-08-31 SC742469 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC742469 core:ShareCapital 2023-08-31 SC742469 core:CurrentFinancialInstruments 2023-08-31 SC742469 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 SC742469 core:Non-currentFinancialInstruments 2023-08-31 SC742469 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 xbrli:pure iso4217:GBP

Registration number: SC742469

Tamsal Property Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Tamsal Property Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

Accountants' Report

7

 

Tamsal Property Ltd

Company Information

Directors

Mr Thomas Melville

Mrs Amanda Melville

Registered office

Unit 4B Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

Accountants

EQ Accountants Ltd Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

Tamsal Property Ltd

(Registration number: SC742469)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

320,080

320,080

Current assets

 

Debtors

5

166

59

Cash at bank and in hand

 

9,374

6,469

 

9,540

6,528

Creditors: Amounts falling due within one year

6

(112,652)

(112,603)

Net current liabilities

 

(103,112)

(106,075)

Total assets less current liabilities

 

216,968

214,005

Creditors: Amounts falling due after more than one year

6

(219,131)

(219,131)

Net liabilities

 

(2,163)

(5,126)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(2,263)

(5,226)

Shareholders' deficit

 

(2,163)

(5,126)

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 February 2025 and signed on its behalf by:
 

.........................................
Mr Thomas Melville
Director

   
     
 

Tamsal Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

It is the opinion of the director(s) that there is reasonable expectation that the company has adequate resources to continue operations for the foreseeable future. For this reason the going concern basis has been adopted in preparing the financial statements for the period ended 31 August 2024.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Tamsal Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 September

320,080

At 31 August

320,080

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2024
£

2023
£

Prepayments

166

59

 

166

59

 

Tamsal Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

112,652

112,603

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

219,131

219,131

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

219,131

219,131

 

Tamsal Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

Year ended 31 August 2024
 £

25 August 2022 to 31 August 2023
 £

Mr Thomas Melville

55,822

55,822

Mrs Amanda Melville

55,822

55,821

 

111,644

111,643

The maximum balance outstanding during the year amounted to £111,644.

The directors current accounts are repayable on demand.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Tamsal Property Ltd
for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tamsal Property Ltd for the year ended 31 August 2024 as set out on pages 2 to 6 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 http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Tamsal Property Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Tamsal Property Ltd and state those matters that we have agreed to state to the Board of Directors of Tamsal Property Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tamsal Property Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Tamsal Property Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Tamsal Property Ltd. You consider that Tamsal Property 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 accounts of Tamsal Property 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 accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

24 February 2025