Silverfin false false 31/10/2024 01/11/2023 31/10/2024 Mr J G Baxter 07/10/2022 14 May 2025 The principal activity of the company continued to be that of property leasing. SC746684 2024-10-31 SC746684 bus:Director1 2024-10-31 SC746684 2023-10-31 SC746684 core:CurrentFinancialInstruments 2024-10-31 SC746684 core:CurrentFinancialInstruments 2023-10-31 SC746684 core:Non-currentFinancialInstruments 2024-10-31 SC746684 core:Non-currentFinancialInstruments 2023-10-31 SC746684 core:ShareCapital 2024-10-31 SC746684 core:ShareCapital 2023-10-31 SC746684 core:SharePremium 2024-10-31 SC746684 core:SharePremium 2023-10-31 SC746684 core:RetainedEarningsAccumulatedLosses 2024-10-31 SC746684 core:RetainedEarningsAccumulatedLosses 2023-10-31 SC746684 bus:OrdinaryShareClass1 2024-10-31 SC746684 bus:OrdinaryShareClass2 2024-10-31 SC746684 2023-11-01 2024-10-31 SC746684 bus:FilletedAccounts 2023-11-01 2024-10-31 SC746684 bus:SmallEntities 2023-11-01 2024-10-31 SC746684 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 SC746684 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC746684 bus:Director1 2023-11-01 2024-10-31 SC746684 2022-11-01 2023-10-31 SC746684 core:CurrentFinancialInstruments 2023-11-01 2024-10-31 SC746684 core:Non-currentFinancialInstruments 2023-11-01 2024-10-31 SC746684 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 SC746684 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 SC746684 bus:OrdinaryShareClass2 2023-11-01 2024-10-31 SC746684 bus:OrdinaryShareClass2 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC746684 (Scotland)

GAIRLAND INVESTMENTS LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH THE REGISTRAR

GAIRLAND INVESTMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024

Contents

GAIRLAND INVESTMENTS LTD

BALANCE SHEET

AS AT 31 OCTOBER 2024
GAIRLAND INVESTMENTS LTD

BALANCE SHEET (continued)

AS AT 31 OCTOBER 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 2,550,000 16,712
2,550,000 16,712
Current assets
Debtors 4 28,585 3,368
Cash at bank and in hand 24,334 93
52,919 3,461
Creditors: amounts falling due within one year 5 ( 577,083) ( 20,226)
Net current liabilities (524,164) (16,765)
Total assets less current liabilities 2,025,836 (53)
Creditors: amounts falling due after more than one year 6 ( 1,134,494) 0
Net assets/(liabilities) 891,342 ( 53)
Capital and reserves
Called-up share capital 7 23 15
Share premium account 850,280 0
Profit and loss account 41,039 ( 68 )
Total shareholders' funds/(deficit) 891,342 ( 53)

For the financial year ending 31 October 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 financial statements of Gairland Investments Ltd (registered number: SC746684) were approved and authorised for issue by the Director on 14 May 2025. They were signed on its behalf by:

Mr J G Baxter
Director
GAIRLAND INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
GAIRLAND INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gairland Investments Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 14 Chanonry Road South, Elgin, IV30 6NG, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has current liabilities of £524,164 (2023 - £16,765). The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents commercial property rental receivable, net of VAT.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 November 2023 16,712
Additions 2,571,291
Fair value movement (38,003)
As at 31 October 2024 2,550,000

Valuation

A full market valuation of investment property was completed by a third party. The fair value of the Company's investment property has been arrived at on the basis of valuations carried out by external valuers having appropriate relevant professional qualifications and recent experience in the location and category of property being valued.

Historic cost

If the investment property had been accounted for under the cost accounting rules, the property would have been valued as follows:

2024 2023
£ £
Historic cost 2,588,003 0

4. Debtors

2024 2023
£ £
Trade debtors 26,700 0
Other debtors 1,885 3,368
28,585 3,368

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 46,944 0
Trade creditors 33,948 4,226
Other taxation and social security 12,567 0
Other creditors 483,624 16,000
577,083 20,226

Bank loans are secured by both a fixed and floating charge over the assets of the Company.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 134,494 0
Other creditors 1,000,000 0
1,134,494 0

Bank loans are secured by both a fixed and floating charge over the assets of the Company.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,500 A ordinary shares of £ 0.01 each 15 15
823 B ordinary shares of £ 0.01 each (2023: nil shares) 8 0
23 15

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Key management personnel 470,577 16,000

The above balance is unsecured, interest free and has no fixed terms of repayment.