Registered number
SC746076
HERON & DRIFTWOOD PROPERTY LIMITED
Filleted Accounts
31 October 2024
HERON & DRIFTWOOD PROPERTY LIMITED
Registered number: SC746076
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 3 157,290 157,290
Current assets
Debtors 4 146 -
Cash at bank and in hand 15,411 8,128
15,557 8,128
Creditors: amounts falling due within one year 5 (168,360) (160,311)
Net current liabilities (152,803) (152,183)
Net assets 4,487 5,107
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,486 5,106
Shareholder's funds 4,487 5,107
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
In accordance with Section 444 of the Companies Act 2006, the income Statement has not been delivered.
Ciarán Michael Ranoch Payne
Director
Approved by the board on 5 May 2025
HERON & DRIFTWOOD PROPERTY LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements have been prepared under the historical const convention.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added 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 and loss. The director's done the valuation as per the market value.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investment property
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Fair value
At 1 November 2023 157,290 - - 157,290
At 31 October 2024 157,290 - - 157,290
Depreciation
At 31 October 2024 - - - -
Net book value
At 31 October 2024 157,290 - - 157,290
At 31 October 2023 157,290 - - 157,290
4 Debtors 2024 2023
£ £
Other debtors 146 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 652 -
Taxation and social security costs - 1,292
Accruals 900
Director's Loan Account 166,808 159,019
168,360 160,311
6 Other information
HERON & DRIFTWOOD PROPERTY LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
272 Bath Street
Glasgow
G2 4JR
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