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Registration number: SC714369

Oban Property Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Oban Property Services Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 10

 

Oban Property Services Limited

Company Information

Director

Mr Gavin MacKinnon

Registered office

1 Aldersyde
Taynuilt
Argyll
PA35 1AG

Accountants

Jack MacDonald & Co Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

 

Oban Property Services Limited

Director's Report for the Year Ended 30 November 2024

The director presents his report and the financial statements for the year ended 30 November 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Alistair Smith (ceased 21 December 2023)

Mr Gavin MacKinnon

Principal activity

The principal activity of the company is property services

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 17 May 2025
 

.........................................
Mr Gavin MacKinnon
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Oban Property Services Limited
for the Year Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Oban Property Services Limited for the year ended 30 November 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Oban Property Services Limited, 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 Oban Property Services Limited and state those matters that we have agreed to state to the Board of Directors of Oban Property Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oban Property Services Limited and its Board of Directors as a body for our work or for this report.

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

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

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

17 May 2025

 

Oban Property Services Limited

Profit and Loss Account for the Year Ended 30 November 2024

Note

2024
£

2023
£

Turnover

 

165,522

145,542

Cost of sales

 

(127,854)

(67,531)

Gross profit

 

37,668

78,011

Administrative expenses

 

(52,147)

(8,161)

Operating (loss)/profit

 

(14,479)

69,850

(Loss)/profit before tax

(14,479)

69,850

Tax on (loss)/profit

 

-

(14,129)

(Loss)/profit for the financial year

 

(14,479)

55,721

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Oban Property Services Limited

Statement of Comprehensive Income for the Year Ended 30 November 2024

2024
£

2023
£

(Loss)/profit for the year

(14,479)

55,721

Total comprehensive income for the year

(14,479)

55,721

 

Oban Property Services Limited

(Registration number: SC714369)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Current assets

 

Debtors

3

23,124

31,294

Cash at bank and in hand

 

86,985

41,206

 

110,109

72,500

Creditors: Amounts falling due within one year

4

(69,367)

(17,279)

Net assets

 

40,742

55,221

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

40,642

55,121

Shareholders' funds

 

40,742

55,221

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 17 May 2025
 

.........................................
Mr Gavin MacKinnon
Director

 

Oban Property Services Limited

Statement of Changes in Equity for the Year Ended 30 November 2024

Share capital
£

Retained earnings
£

Total
£

At 1 December 2023

100

55,121

55,221

Loss for the year

-

(14,479)

(14,479)

At 30 November 2024

100

40,642

40,742

Share capital
£

Retained earnings
£

Total
£

At 1 December 2022

100

(600)

(500)

Profit for the year

-

55,721

55,721

At 30 November 2023

100

55,121

55,221

 

Oban Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

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

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

 

Oban Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

3

Debtors

Current

2024
£

2023
£

Trade debtors

5,624

-

Other debtors

17,500

31,294

 

23,124

31,294

 

Oban Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

596

600

Taxation and social security

14,143

14,129

Other creditors

54,628

2,550

69,367

17,279

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100