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REGISTERED NUMBER: SC591109 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

OUTLAND PROPERTIES LIMITED

OUTLAND PROPERTIES LIMITED (REGISTERED NUMBER: SC591109)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


OUTLAND PROPERTIES LIMITED

COMPANY INFORMATION
for the year ended 30 JUNE 2024







DIRECTORS: H A Saleemi
Mrs A Saleemi





REGISTERED OFFICE: 3 Clairmont Gardens
Glasgow
United Kingdom
G3 7LW





REGISTERED NUMBER: SC591109 (Scotland)





ACCOUNTANTS: Thomas Barrie & Co LLP
Atlantic House
1a Cadogan Street
Glasgow
G2 6QE

OUTLAND PROPERTIES LIMITED (REGISTERED NUMBER: SC591109)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,899 3,036
Investment property 5 1,184,789 842,254
1,186,688 845,290

CURRENT ASSETS
Debtors 6 4,301 2,483
Cash at bank 27,530 10,330
31,831 12,813
CREDITORS
Amounts falling due within one year 7 (588,936 ) (475,671 )
NET CURRENT LIABILITIES (557,105 ) (462,858 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

629,583

382,432

CREDITORS
Amounts falling due after more than one year 8 (591,164 ) (375,042 )
NET ASSETS 38,419 7,390

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 38,417 7,388
38,419 7,390

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

OUTLAND PROPERTIES LIMITED (REGISTERED NUMBER: SC591109)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 Board of Directors and authorised for issue on 26 April 2025 and were signed on its behalf by:





Mrs A Saleemi - Director


OUTLAND PROPERTIES LIMITED (REGISTERED NUMBER: SC591109)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 JUNE 2024

1. STATUTORY INFORMATION

Outland Properties Limited is a private company, limited by shares, registered in Scotland, registration number SC591109. The registered office is 3 Clairmont Gardens, Glasgow, United Kingdom, G3 7LW.

The principal activity of the company is investment property.

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.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates
In preparing these financial statements, the directors are required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements:

Valuation of investment properties
As noted below, investment properties are included in the Statement of Financial Position at fair value. The valuation is based on the director's consideration of several factors including professional valuations, local market conditions and recent selling prices of similar properties..

Turnover
Turnover consists of rental income which is recognised on a straight-line basis over the term of the relevant lease.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 15% on cost

The carrying values of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying values may not be recoverable.

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.

OUTLAND PROPERTIES LIMITED (REGISTERED NUMBER: SC591109)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

OUTLAND PROPERTIES LIMITED (REGISTERED NUMBER: SC591109)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 JUNE 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 8,781
DEPRECIATION
At 1 July 2023 5,745
Charge for year 1,137
At 30 June 2024 6,882
NET BOOK VALUE
At 30 June 2024 1,899
At 30 June 2023 3,036

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 842,254
Additions 342,535
At 30 June 2024 1,184,789
NET BOOK VALUE
At 30 June 2024 1,184,789
At 30 June 2023 842,254

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,410 593
Other debtors 2,891 1,890
4,301 2,483

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 6,853 -
Other creditors 582,083 475,671
588,936 475,671

OUTLAND PROPERTIES LIMITED (REGISTERED NUMBER: SC591109)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 JUNE 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 591,164 375,042

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 591,164 375,042

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 591,164 375,042

The company has granted a standard security over one of its investment properties in favour of Lendinvest BTL Ltd, as well as a floating charge over all property or undertakings of the company. Standard securities have also been granted over four other investment properties in favour of Paragon Bank PLC.