IRIS Accounts Production v25.1.4.42 SC295862 Board of Directors 1.4.24 31.3.25 31.3.25 false true false false true false Fair value model 609517 535385 5273 3533 444648 77665 1048892 609517 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2958622024-03-31SC2958622025-03-31SC2958622024-04-012025-03-31SC2958622023-03-31SC2958622023-04-012024-03-31SC2958622024-03-31SC295862ns15:Scotland2024-04-012025-03-31SC295862ns14:PoundSterling2024-04-012025-03-31SC295862ns10:Director12024-04-012025-03-31SC295862ns10:PrivateLimitedCompanyLtd2024-04-012025-03-31SC295862ns10:SmallEntities2024-04-012025-03-31SC295862ns10:AuditExempt-NoAccountantsReport2024-04-012025-03-31SC295862ns10:SmallCompaniesRegimeForDirectorsReport2024-04-012025-03-31SC295862ns10:SmallCompaniesRegimeForAccounts2024-04-012025-03-31SC295862ns10:FullAccounts2024-04-012025-03-31SC295862ns10:Director1412024-03-31SC295862ns10:Director1412023-03-31SC295862ns10:Director1412024-04-012025-03-31SC295862ns10:Director1412023-04-012024-03-31SC295862ns10:Director1412025-03-31SC295862ns10:Director1412024-03-31SC295862ns10:Director22024-04-012025-03-31SC295862ns10:RegisteredOffice2024-04-012025-03-31SC295862ns5:CurrentFinancialInstruments2025-03-31SC295862ns5:CurrentFinancialInstruments2024-03-31SC295862ns5:Non-currentFinancialInstruments2025-03-31SC295862ns5:Non-currentFinancialInstruments2024-03-31SC295862ns5:ShareCapital2025-03-31SC295862ns5:ShareCapital2024-03-31SC295862ns5:RevaluationReserve2025-03-31SC295862ns5:RevaluationReserve2024-03-31SC295862ns5:RetainedEarningsAccumulatedLosses2025-03-31SC295862ns5:RetainedEarningsAccumulatedLosses2024-03-31SC295862ns5:FurnitureFittings2024-03-31SC295862ns5:MotorVehicles2024-03-31SC295862ns5:ComputerEquipment2024-03-31SC295862ns5:FurnitureFittings2024-04-012025-03-31SC295862ns5:MotorVehicles2024-04-012025-03-31SC295862ns5:ComputerEquipment2024-04-012025-03-31SC295862ns5:FurnitureFittings2025-03-31SC295862ns5:MotorVehicles2025-03-31SC295862ns5:ComputerEquipment2025-03-31SC295862ns5:FurnitureFittings2024-03-31SC295862ns5:MotorVehicles2024-03-31SC295862ns5:ComputerEquipment2024-03-31SC295862ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-03-31SC295862ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-04-012025-03-31SC295862ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2025-03-31SC295862ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-03-31SC295862ns5:WithinOneYearns5:CurrentFinancialInstruments2025-03-31SC295862ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-31SC295862ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2025-03-31SC295862ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-03-31SC295862ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2025-03-31SC295862ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-31SC295862ns5:HirePurchaseContracts2025-03-31SC295862ns5:HirePurchaseContracts2024-03-31SC295862ns5:Secured2025-03-31SC295862ns5:Secured2024-03-31SC295862ns5:RevaluationReserve2024-03-31SC295862ns10:Director222024-03-31SC295862ns10:Director222023-03-31SC295862ns10:Director222024-04-012025-03-31SC295862ns10:Director222023-04-012024-03-31SC295862ns10:Director222025-03-31SC295862ns10:Director222024-03-31
REGISTERED NUMBER: SC295862 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2025

for

429 Limited

429 Limited (Registered number: SC295862)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


429 Limited

Company Information
for the Year Ended 31 March 2025







DIRECTORS: Mrs G A Hay
Mr G Hay





REGISTERED OFFICE: 4 Mill Road
Port Elphinstone
Inverurie
Aberdeenshire
AB51 5UD





REGISTERED NUMBER: SC295862 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

429 Limited (Registered number: SC295862)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,134 16,262
Investment property 5 1,586,489 1,671,989
1,650,623 1,688,251

CURRENT ASSETS
Debtors 6 4,146 4,121
Cash at bank 10,533 -
14,679 4,121
CREDITORS
Amounts falling due within one year 7 1,081,381 940,162
NET CURRENT LIABILITIES (1,066,702 ) (936,041 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

583,921

752,210

CREDITORS
Amounts falling due after more than one
year

8

(65,539

)

(286,627

)

PROVISIONS FOR LIABILITIES (9,381 ) -
NET ASSETS 509,001 465,583

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Other reserve 11 180,845 94,530
Retained earnings 327,156 370,053
509,001 465,583

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

429 Limited (Registered number: SC295862)

Balance Sheet - continued
31 March 2025


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 10 June 2025 and were signed on its behalf by:





Mrs G A Hay - Director


429 Limited (Registered number: SC295862)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

429 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 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 each asset over its estimated useful life.

Fixtures and fittings 25% on cost
Computer equipment 25% on cost
Motor vehicles 25% reducing balance

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

429 Limited (Registered number: SC295862)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2024 3,408 28,910 1,565 33,883
Additions - 69,250 - 69,250
At 31 March 2025 3,408 98,160 1,565 103,133
DEPRECIATION
At 1 April 2024 3,408 12,648 1,565 17,621
Charge for year - 21,378 - 21,378
At 31 March 2025 3,408 34,026 1,565 38,999
NET BOOK VALUE
At 31 March 2025 - 64,134 - 64,134
At 31 March 2024 - 16,262 - 16,262

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2024 28,910
Additions 69,250
At 31 March 2025 98,160
DEPRECIATION
At 1 April 2024 12,648
Charge for year 21,378
At 31 March 2025 34,026
NET BOOK VALUE
At 31 March 2025 64,134
At 31 March 2024 16,262

429 Limited (Registered number: SC295862)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2024 1,671,989
Additions 7,178
Disposals (168,278 )
Revaluations 75,600
At 31 March 2025 1,586,489
NET BOOK VALUE
At 31 March 2025 1,586,489
At 31 March 2024 1,671,989

Fair value at 31 March 2025 is represented by:
£   
Valuation in 2007 113,469
Valuation in 2009 87,953
Valuation in 2015 (87,243 )
Valuation in 2016 30,841
Valuation in 2019 141,673
Valuation in 2020 (30,390 )
Valuation in 2023 (148,259 )
Valuation in 2025 62,372
Cost 1,416,073
1,586,489

If investment properties had not been revalued they would have been included at the following historical cost:

31.3.25 31.3.24
£    £   
Cost 1,416,073 1,518,697

Investment properties were valued on an open market basis on 31 March 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 600 600
Other debtors 3,546 3,521
4,146 4,121

429 Limited (Registered number: SC295862)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans and overdrafts - 291,910
Hire purchase contracts (see note 9) 11,536 1,800
Taxation and social security 4,418 17,493
Other creditors 1,065,427 628,959
1,081,381 940,162

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.25 31.3.24
£    £   
Bank loans - 270,000
Hire purchase contracts (see note 9) 65,539 16,627
65,539 286,627

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.25 31.3.24
£    £   
Net obligations repayable:
Within one year 11,536 1,800
Between one and five years 65,539 16,627
77,075 18,427

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.25 31.3.24
£    £   
Bank loans - 310,000

11. RESERVES
Other
reserve
£   
At 1 April 2024 94,530
Deferred tax movement (2,514 )
Transfer 75,600
Revaluations 13,229

At 31 March 2025 180,845

429 Limited (Registered number: SC295862)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25 31.3.24
£    £   
Mr G Hay and Mrs G A Hay
Balance outstanding at start of year (609,517 ) (535,385 )
Amounts advanced 5,273 3,533
Amounts repaid (444,648 ) (77,665 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,048,892 ) (609,517 )

13. RELATED PARTY DISCLOSURES

During the year consultancy fees of £1,500 (£1,500 - 2024) was received from Findlay, Glover and MacAulay Limited, a company of which G Hay is a director.

During the year consultancy fees of £6,000 (£6,000 - 2024) was received from GPH Builders Merchants Limited, a company of which G Hay is a director.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.