2 2 Scots Oak Properties Ltd. SC139406 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is The principal activity of the company during the year was development and rental of real estate. Digita Accounts Production Advanced 6.30.9574.0 true SC139406 2023-09-01 2024-08-31 SC139406 2024-08-31 SC139406 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC139406 core:ShareCapital 2024-08-31 SC139406 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-08-31 SC139406 core:CurrentFinancialInstruments 2024-08-31 SC139406 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 SC139406 core:OfficeEquipment 2024-08-31 SC139406 bus:SmallEntities 2023-09-01 2024-08-31 SC139406 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC139406 bus:FilletedAccounts 2023-09-01 2024-08-31 SC139406 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC139406 bus:RegisteredOffice 2023-09-01 2024-08-31 SC139406 bus:Director2 2023-09-01 2024-08-31 SC139406 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC139406 core:OfficeEquipment 2023-09-01 2024-08-31 SC139406 countries:Scotland 2023-09-01 2024-08-31 SC139406 core:OfficeEquipment 2023-08-31 SC139406 2022-09-01 2023-08-31 SC139406 2023-08-31 SC139406 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC139406 core:ShareCapital 2023-08-31 SC139406 core:CurrentFinancialInstruments 2023-08-31 SC139406 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 SC139406 core:OfficeEquipment 2023-08-31 xbrli:pure iso4217:GBP

Registration number: SC139406

Scots Oak Properties Ltd.

Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Scots Oak Properties Ltd.

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Scots Oak Properties Ltd.

(Registration number: SC139406)
Statement of Financial Position as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

213

284

Other financial assets

5

819,844

1,556,899

 

820,057

1,557,183

Current assets

 

Debtors

6

1,919,681

1,276,850

Cash at bank and in hand

 

289,623

127,328

 

2,209,304

1,404,178

Creditors: Amounts falling due within one year

7

(4,863)

(23,233)

Net current assets

 

2,204,441

1,380,945

Total assets less current liabilities

 

3,024,498

2,938,128

Provisions for liabilities

(24,030)

(4,578)

Net assets

 

3,000,468

2,933,550

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

2,999,468

2,932,550

Shareholders' funds

 

3,000,468

2,933,550

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 Income Statement.

 

Scots Oak Properties Ltd.

(Registration number: SC139406)
Statement of Financial Position as at 31 August 2024 (continued)

Approved and authorised by the Board on 27 May 2025 and signed on its behalf by:



 

Mr A J Johnstone
Director

 

Scots Oak Properties 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.

The address of its registered office is:
C/O Walker Dunnett & Co
Dundee
Angus
DD1 3DG

The principal place of business is:
Oakmere
Kinnaird
Perthshire
PH14 9QZ
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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

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 deferred 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.

 

Scots Oak Properties Ltd.

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

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% reducing balance

Investments

Listed investments are measured at fair value with changes in fair value being recognised in profit and loss.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, 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

Staff numbers

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

 

Scots Oak Properties Ltd.

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

4

Tangible assets

Office equipment
£

Cost or valuation

At 1 September 2023

6,030

At 31 August 2024

6,030

Depreciation

At 1 September 2023

5,746

Charge for the year

71

At 31 August 2024

5,817

Carrying amount

At 31 August 2024

213

At 31 August 2023

284

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 September 2023

1,556,899

1,556,899

Fair value adjustments

77,807

77,807

Additions

317,340

317,340

Disposals

(1,132,202)

(1,132,202)

At 31 August 2024

819,844

819,844

Carrying amount

At 31 August 2024

819,844

819,844

 

Scots Oak Properties Ltd.

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

6

Debtors

2024
£

2023
£

Other debtors

1,919,681

1,276,850

1,919,681

1,276,850

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

422

713

Accruals and deferred income

3,468

4,500

Other creditors

973

18,020

4,863

23,233

8

Reserves

2023

2023

£

£

Profit and loss - distributable

2,927,380

2,918,817

Revaluation on investments - undistributable

96,118

18,311

Deferred tax on revaluation of investments - undistributable

(24,030)

(4,578)

2,999,468

2,932,550

 

Scots Oak Properties Ltd.

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

9

Dividends

2024

2023

£

£

Final dividend of £Nil (2023 - £37,043.50) per ordinary share

35,561

37,044