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REGISTERED NUMBER: SC677562 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

J&S MCKENZIE PROPERTY LIMITED

J&S MCKENZIE PROPERTY LIMITED (REGISTERED NUMBER: SC677562)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 9

J&S MCKENZIE PROPERTY LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2024







DIRECTORS: S J McKenzie
J McKenzie





REGISTERED OFFICE: Dunvorist
Station Road
Murthly
Perth
PH1 4EL





REGISTERED NUMBER: SC677562 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

J&S MCKENZIE PROPERTY LIMITED (REGISTERED NUMBER: SC677562)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 270,839 76,516
Investments 5 1,272,691 -
Investment property 6 1,141,093 753,008
2,684,623 829,524

CURRENT ASSETS
Debtors 7 96,023 1,528
Cash at bank 546,203 473,274
642,226 474,802
CREDITORS
Amounts falling due within one year 8 2,369 4,239
NET CURRENT ASSETS 639,857 470,563
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,324,480

1,300,087

CREDITORS
Amounts falling due after more than one year 9 (397,076 ) (397,339 )

PROVISIONS FOR LIABILITIES 11 (20,183 ) (459 )
NET ASSETS 2,907,221 902,289

CAPITAL AND RESERVES
Called up share capital 12 212 212
Non-distributable reserves 13 60,549 1,377
Retained earnings 2,846,460 900,700
SHAREHOLDERS' FUNDS 2,907,221 902,289

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

J&S MCKENZIE PROPERTY LIMITED (REGISTERED NUMBER: SC677562)

BALANCE SHEET - continued
31 December 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 20 May 2025 and were signed on its behalf by:





S J McKenzie - Director


J&S MCKENZIE PROPERTY LIMITED (REGISTERED NUMBER: SC677562)

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

1. STATUTORY INFORMATION

J&S McKenzie Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

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.
Assets under construction - not provided
Fixtures and fittings - 20% on cost

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

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

J&S MCKENZIE PROPERTY LIMITED (REGISTERED NUMBER: SC677562)

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

4. TANGIBLE FIXED ASSETS
Assets Fixtures
under and
construction fittings Totals
£    £    £   
COST
At 1 January 2024 74,912 2,470 77,382
Additions 194,817 - 194,817
At 31 December 2024 269,729 2,470 272,199
DEPRECIATION
At 1 January 2024 - 866 866
Charge for year - 494 494
At 31 December 2024 - 1,360 1,360
NET BOOK VALUE
At 31 December 2024 269,729 1,110 270,839
At 31 December 2023 74,912 1,604 76,516

5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
Additions 1,250,000
Revaluations 22,691
At 31 December 2024 1,272,691
NET BOOK VALUE
At 31 December 2024 1,272,691

Cost or valuation at 31 December 2024 is represented by:

Listed
investments
£   
Valuation in 2024 22,691
Cost 1,250,000
1,272,691

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,250,000 -

Fixed asset investments were valued on an open market basis on 31 December 2024 by Coutts Wealth Management .

J&S MCKENZIE PROPERTY LIMITED (REGISTERED NUMBER: SC677562)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 753,008
Additions 331,880
Revaluations 56,205
At 31 December 2024 1,141,093
NET BOOK VALUE
At 31 December 2024 1,141,093
At 31 December 2023 753,008

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2022 1,836
Valuation in 2024 56,205
Cost 1,083,052
1,141,093

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,083,052 751,172

Investment property was valued on an open market basis on 31 December 2024 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 93,500 -
Other debtors 2,523 1,528
96,023 1,528

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 574 1,548
Taxation and social security - 1,491
Other creditors 1,795 1,200
2,369 4,239

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 397,076 397,339

J&S MCKENZIE PROPERTY LIMITED (REGISTERED NUMBER: SC677562)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 339,646 339,646

The company has granted standard security in favour of Alderman Bank PLC over Flat 4, Station Court Houses, Station Road, Murthly, Perth, PH1 4EL.

The company has granted standard security in favour of Alderman Bank PLC over 0/1, 26 Kildonan Drive, Glasgow, G11 7XG.

The company has granted standard security in favour of Alderman Bank PLC over 1 Station Court Houses, Station Road, Murthly, Perth, PH1 4EL.

The company has granted standard security in favour of Alderman Bank PLC over 118 Monart Road, Perth, PH1 5UQ.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 20,183 459

Deferred
tax
£   
Balance at 1 January 2024 459
Provided during year 19,724
Balance at 31 December 2024 20,183

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
2 Ordinary C £1 2 2
10 Ordinary D £1 10 10
212 212

13. RESERVES
Non-distributable
reserves
£   
At 1 January 2024 1,377
Transfer 59,172

At 31 December 2024 60,549

J&S MCKENZIE PROPERTY LIMITED (REGISTERED NUMBER: SC677562)

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

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
S J McKenzie
Balance outstanding at start of year - 60
Amounts repaid - (60 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

J McKenzie
Balance outstanding at start of year - 50
Amounts repaid - (50 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loans are interest free and have no fixed repayment period.

15. RELATED PARTY DISCLOSURES

As at 31 December 2024, there was a loan balance due of £93,500 (2023: £nil) from a company that is under common control and directorship as J&S McKenzie Property Ltd.

This loan is interest free and has no fixed repayment terms.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
J&S MCKENZIE PROPERTY LIMITED

The following reproduces the text of the report prepared for the directors 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 Directors 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 J&S McKenzie Property Limited for the year ended 31 December 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 the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of J&S McKenzie Property Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J&S McKenzie Property Limited and state those matters that we have agreed to state to the Board of Directors of J&S McKenzie Property Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that J&S McKenzie Property 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 J&S McKenzie Property Limited. You consider that J&S McKenzie Property 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 J&S McKenzie Property 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.






Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


21 May 2025