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REGISTERED NUMBER: SC452345 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

HOWBURN LIMITED

HOWBURN LIMITED (REGISTERED NUMBER: SC452345)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HOWBURN LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: D I C Lakin
I M Lakin





REGISTERED OFFICE: 5 Carden Place
Aberdeen
AB10 1UT





REGISTERED NUMBER: SC452345 (Scotland)






HOWBURN LIMITED (REGISTERED NUMBER: SC452345)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 618,655 618,655
618,655 618,655

CURRENT ASSETS
Debtors 6 12,974 10,756
Cash at bank 5,388 4,211
18,362 14,967
CREDITORS
Amounts falling due within one year 7 694,201 469,317
NET CURRENT LIABILITIES (675,839 ) (454,350 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(57,184

)

164,305

CREDITORS
Amounts falling due after more than one
year

8

120,106

138,976
NET (LIABILITIES)/ASSETS (177,290 ) 25,329

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (177,390 ) 25,229
(177,290 ) 25,329

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

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

HOWBURN LIMITED (REGISTERED NUMBER: SC452345)

Balance Sheet - continued
30 June 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 17 June 2025 and were signed on its behalf by:





D I C Lakin - Director


HOWBURN LIMITED (REGISTERED NUMBER: SC452345)

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


1. STATUTORY INFORMATION

Howburn 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.

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.
Computer equipment - Straight line over 3 years

Investment property
Investment properties are revalued annually and the aggregate surplus or deficit is transferred to the revaluation reserve except where any deficit is deemed permanent when it is taken to the profit and loss account. No provision is made for depreciation of investment properties. Although this accounting policy is in accordance with Section 1A "Small Entities" of Financial Reporting Standard 102, it is a departure from the general requirements of the Company Acts 2006 for all tangible fixed assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation is only one of the many factors reflected in the annual valuation and the amount of this that might otherwise have been charged cannot be separately identified or quantified.

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.

Going concern
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.

HOWBURN LIMITED (REGISTERED NUMBER: SC452345)

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


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 July 2023
and 30 June 2024 2,000
DEPRECIATION
At 1 July 2023
and 30 June 2024 2,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 618,655
NET BOOK VALUE
At 30 June 2024 618,655
At 30 June 2023 618,655

The investment property is recorded at current market value and in the opinion of the directors is a reliable valuation.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by associates 40 40
Other debtors 12,934 10,716
12,974 10,756

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 16,816 16,816
Amounts owed to associates 91,491 79,491
Other creditors 585,894 373,010
694,201 469,317

HOWBURN LIMITED (REGISTERED NUMBER: SC452345)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 120,106 138,976

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 56,965 73,774

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D I Lakin.