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REGISTERED NUMBER: SC319690 (Scotland)















TULIPTREE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024






TULIPTREE LIMITED (REGISTERED NUMBER: SC319690)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TULIPTREE LIMITED

COMPANY INFORMATION
For The Year Ended 31 August 2024







DIRECTORS: N P Bertioli
Mrs S E Bertioli





SECRETARY: Mrs S E Bertioli





REGISTERED OFFICE: 3 Clairmont Gardens
Glasgow
G3 7LW





REGISTERED NUMBER: SC319690 (Scotland)





ACCOUNTANTS: Benham Conway & Co
16 Royal Cresent
Glasgow
G3 7SL

TULIPTREE LIMITED (REGISTERED NUMBER: SC319690)

BALANCE SHEET
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 4,630 5,227
Investment property 5 4,787,387 4,541,140
4,792,017 4,546,367

CURRENT ASSETS
Debtors 6 11,860 16,407
Cash at bank 166,096 97,121
177,956 113,528
CREDITORS
Amounts falling due within one year 7 4,262,756 4,038,059
NET CURRENT LIABILITIES (4,084,800 ) (3,924,531 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

707,217

621,836

PROVISIONS FOR LIABILITIES 101,915 101,915
NET ASSETS 605,302 519,921

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 305,743 305,743
Retained earnings 298,559 213,178
SHAREHOLDERS' FUNDS 605,302 519,921

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

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

TULIPTREE LIMITED (REGISTERED NUMBER: SC319690)

BALANCE SHEET - continued
31 August 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 28 May 2025 and were signed on its behalf by:




N P Bertioli - Director



Mrs S E Bertioli - Director


TULIPTREE LIMITED (REGISTERED NUMBER: SC319690)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 August 2024


1. STATUTORY INFORMATION

Tuliptree 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.

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 represents rental income for the year.

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 10% on cost

Investment property
Land and buildings are classified as investment property when the property is held to earn rentals or for capital appreciation or both. Investment property is initially measured at cost which comprises purchase price and any directly attributable expenditure, and subsequently remeasured to fair value at each reporting date with changes in fair value recognised in the Income Statement.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

TULIPTREE LIMITED (REGISTERED NUMBER: SC319690)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 August 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 45,374
Additions 1,065
At 31 August 2024 46,439
DEPRECIATION
At 1 September 2023 40,147
Charge for year 1,662
At 31 August 2024 41,809
NET BOOK VALUE
At 31 August 2024 4,630
At 31 August 2023 5,227

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 4,541,140
Additions 246,247
At 31 August 2024 4,787,387
NET BOOK VALUE
At 31 August 2024 4,787,387
At 31 August 2023 4,541,140


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 2,444 9,002
Other debtors 9,416 7,405
11,860 16,407

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Directors' loan accounts 3,198,394 3,180,806
Taxation and social security 34,783 26,411
Other creditors 1,029,579 830,842
4,262,756 4,038,059

TULIPTREE LIMITED (REGISTERED NUMBER: SC319690)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 August 2024


8. RELATED PARTY DISCLOSURES

At 31 August 2024 the directors had provided the company with loans of £3,198,394 (2023, £3,180,806). No interest has been charged on these loans in the current year. Interest was charged on these loans in the previous year. There are no fixed repayment terms for these loans.

At 31 August 2024 certain shareholders had provided the company with loans of £1,017,505 (2023, £822,920). There was no interest paid on these loans in the current year or in the previous year. There are no fixed repayment terms for these loans which are included in other creditors.