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REGISTERED NUMBER: SC440523 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

Avonpeak Offices In Leith Limited

Avonpeak Offices In Leith Limited (Registered number: SC440523)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Avonpeak Offices In Leith Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: A G Borthwick
Mrs A F Borthwick
K M M Borthwick





REGISTERED OFFICE: 89 Giles Street
Edinburgh
EH6 6BZ





REGISTERED NUMBER: SC440523 (Scotland)






Avonpeak Offices In Leith Limited (Registered number: SC440523)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 123,100 123,000
Investment property 5 4,595,000 4,595,000
4,718,100 4,718,000

CURRENT ASSETS
Debtors 6 273,197 290,917
Cash at bank 30,387 57,720
303,584 348,637
CREDITORS
Amounts falling due within one year 7 354,815 348,349
NET CURRENT (LIABILITIES)/ASSETS (51,231 ) 288
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,666,869

4,718,288

CREDITORS
Amounts falling due after more than one
year

8

(2,347,464

)

(2,482,380

)

PROVISIONS FOR LIABILITIES (380,609 ) (380,608 )
NET ASSETS 1,938,796 1,855,300

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 1,369,427 1,369,427
Retained earnings 569,269 485,773
1,938,796 1,855,300

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Avonpeak Offices In Leith Limited (Registered number: SC440523)

Balance Sheet - continued
30 November 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 13 June 2025 and were signed on its behalf by:





A G Borthwick - Director


Avonpeak Offices In Leith Limited (Registered number: SC440523)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Avonpeak Offices In Leith 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.

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

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue comprises of rents and service charges receivable and is recognised in the period to which it relates.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially
recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Avonpeak Offices In Leith Limited (Registered number: SC440523)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and
subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2023 123,000
Additions 100
At 30 November 2024 123,100
NET BOOK VALUE
At 30 November 2024 123,100
At 30 November 2023 123,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023
and 30 November 2024 4,595,000
NET BOOK VALUE
At 30 November 2024 4,595,000
At 30 November 2023 4,595,000

Avonpeak Offices In Leith Limited (Registered number: SC440523)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. INVESTMENT PROPERTY - continued

The fair value of the investment property has been arrived at on the basis of a valuation carried out in 2021 by Cushman & Wakefield real estate, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

The directors have reviewed the fair value of the investment properties as at 30 November 2024 and can confirm that they are satisfied with the current valuation and believe that the fair value has not materially changed since the last valuation.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 3,075 3,145
Amounts owed by participating interests 269,608 286,208
Other debtors 514 1,564
273,197 290,917

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 135,242 135,242
Trade creditors 6,742 9,030
Taxation and social security 46,313 48,403
Other creditors 166,518 155,674
354,815 348,349

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Bank loans 2,347,464 2,482,380

9. SECURED DEBTS

Aldermore Bank PLC hold a floating charge and security over the investment property held by the company.

10. RESERVES
Fair
value
reserve
£   
At 1 December 2023
and 30 November 2024 1,369,427