IRIS Accounts Production v25.1.4.42 SC235968 Board of Directors 1.11.23 31.10.24 31.10.24 true false true false false true false Fair value model Ordinary shares 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC235968 2023-10-31 SC235968 2024-10-31 SC235968 2023-11-01 2024-10-31 SC235968 2022-10-31 SC235968 2022-11-01 2023-10-31 SC235968 2023-10-31 SC235968 ns15:Scotland 2023-11-01 2024-10-31 SC235968 ns14:PoundSterling 2023-11-01 2024-10-31 SC235968 ns10:Director1 2023-11-01 2024-10-31 SC235968 ns10:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC235968 ns10:SmallEntities 2023-11-01 2024-10-31 SC235968 ns10:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 SC235968 ns10:SmallCompaniesRegimeForDirectorsReport 2023-11-01 2024-10-31 SC235968 ns10:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 SC235968 ns10:FullAccounts 2023-11-01 2024-10-31 SC235968 ns10:OrdinaryShareClass1 2023-11-01 2024-10-31 SC235968 ns10:Director2 2023-11-01 2024-10-31 SC235968 ns10:RegisteredOffice 2023-11-01 2024-10-31 SC235968 ns5:CurrentFinancialInstruments 2024-10-31 SC235968 ns5:CurrentFinancialInstruments 2023-10-31 SC235968 ns5:ShareCapital 2024-10-31 SC235968 ns5:ShareCapital 2023-10-31 SC235968 ns5:RetainedEarningsAccumulatedLosses 2024-10-31 SC235968 ns5:RetainedEarningsAccumulatedLosses 2023-10-31 SC235968 ns5:PlantMachinery 2023-11-01 2024-10-31 SC235968 ns5:PlantMachinery 2023-10-31 SC235968 ns5:PlantMachinery 2024-10-31 SC235968 ns5:PlantMachinery 2023-10-31 SC235968 ns5:CostValuation 2023-10-31 SC235968 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-10-31 SC235968 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-10-31 SC235968 ns10:OrdinaryShareClass1 2024-10-31 SC235968 ns5:RetainedEarningsAccumulatedLosses 2023-10-31 SC235968 ns5:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 SC235968 1 ns10:Director1 2023-10-31 SC235968 1 ns10:Director1 2022-10-31 SC235968 1 ns10:Director1 2023-11-01 2024-10-31 SC235968 1 ns10:Director1 2022-11-01 2023-10-31 SC235968 1 ns10:Director1 2024-10-31 SC235968 1 ns10:Director1 2023-10-31

REGISTERED NUMBER: SC235968 (Scotland)

Financial Statements for the Year Ended 31 October 2024

for

Culsalmond Property & Investment

Company Limited

Culsalmond Property & Investment

Company Limited (Registered number: SC235968)

Contents of the Financial Statements

for the Year Ended 31 October 2024

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Culsalmond Property & Investment

Company Limited

Company Information

for the Year Ended 31 October 2024

| DIRECTORS: | Mr K Norrie

| Mrs B Norrie

| REGISTERED OFFICE: | Johnstone House

| 52-54 Rose Street

| Aberdeen

| AB10 1HA

| REGISTERED NUMBER: | SC235968 (Scotland)

| ACCOUNTANTS: | Tawse & Partners

| Chartered Accountants

| 18 North Silver Street

| Aberdeen

| AB10 1JU

Culsalmond Property & Investment

Company Limited (Registered number: SC235968)

Balance Sheet

31 October 2024

| 31.10.24 | 31.10.23 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 1,611 |  | 1,895 |  |

Investments | 6 | 1,594,321 |  | 1,594,321 |  |

Investment property | 7 | 410,000 |  | 450,000 |  |

2,005,932 |  | 2,046,216 |  |

CURRENT ASSETS

Debtors: amounts falling due within one year | 8 | 23,354 |  | 14,022 |  |

Cash at bank | 8,023 |  | 157,896 |  |

31,377 |  | 171,918 |  |

CREDITORS

Amounts falling due within one year | 9 | 1,937,444 |  | 2,088,658 |  |

NET CURRENT LIABILITIES | (1,906,067 | ) | (1,916,740 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 99,865 |  | 129,476 |  |

PROVISIONS FOR LIABILITIES | 403 |  | 474 |  |

NET ASSETS | 99,462 |  | 129,002 |  |

CAPITAL AND RESERVES

Called up share capital | 10 | 2 |  | 2 |  |

Retained earnings | 11 | 99,460 |  | 129,000 |  |

SHAREHOLDERS' FUNDS | 99,462 |  | 129,002 |  |

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

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

Culsalmond Property & Investment

Company Limited (Registered number: SC235968)

Balance Sheet - continued

31 October 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 19 June 2025 and were signed on its behalf by:

Mr K Norrie - Director

Culsalmond Property & Investment

Company Limited (Registered number: SC235968)

Notes to the Financial Statements

for the Year Ended 31 October 2024

1. | STATUTORY INFORMATION

| Culsalmond Property & Investment Company 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 trading address of the company is 50 Burnieboozle Crescent, Aberdeen, AB15 8NP.

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

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

| The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated.

| Preparation of consolidated financial statements

| The financial statements contain information about Culsalmond Property & Investment Company Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Turnover and other income recognition

| Turnover is measured at fair value of the consideration received or receivable. The policies adopted for the recognition of turnover are as follows:

| Rental Property

| Rental income is recognised based on monthly rental periods, in accordance with property rental agreements.

| Investment Income

| Dividend income is recognised as the company's right to receive payment is established.

| Interest Receivable

| Interest receivable is recognised using the effective interest method.

| 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 | - | 15% on reducing balance

| Tangible fixed assets are stated at deemed cost less accumulated depreciation and accumulated impairment.

Culsalmond Property & Investment

Company Limited (Registered number: SC235968)

Notes to the Financial Statements - continued

for the Year Ended 31 October 2024

3. | ACCOUNTING POLICIES - continued

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost less impairment.

| Investment property

| Investments property for which fair value can be measured reliably without undue cost of effort are measured at fair value at each reporting date which changes in the fair value recognised in the Income Statement. Deferred tax is provided on any gains at the rate expected to apply when the property is sold.

| Fair Value is based on property market values.

| 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.

| Deferred tax on revalued investment properties is measured using the rates and allowances that apply to the reversal of the timing differences.

| Debtors and creditors receivable / payable within one year

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

| Impairment

| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

4. | EMPLOYEES AND DIRECTORS

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

Culsalmond Property & Investment

Company Limited (Registered number: SC235968)

Notes to the Financial Statements - continued

for the Year Ended 31 October 2024

5. | TANGIBLE FIXED ASSETS

| Plant

£ |

| COST

| At 1 November 2023

| and 31 October 2024 | 9,702 |  |

| DEPRECIATION

| At 1 November 2023 | 7,807 |  |

| Charge for year | 284 |  |

| At 31 October 2024 | 8,091 |  |

| NET BOOK VALUE

| At 31 October 2024 | 1,611 |  |

| At 31 October 2023 | 1,895 |  |

6. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 November 2023

| and 31 October 2024 | 1,594,321 |  |

| NET BOOK VALUE

| At 31 October 2024 | 1,594,321 |  |

| At 31 October 2023 | 1,594,321 |  |

7. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 November 2023 | 450,000 |  |

| Revaluations | (40,000 | ) |

| At 31 October 2024 | 410,000 |  |

| NET BOOK VALUE

| At 31 October 2024 | 410,000 |  |

| At 31 October 2023 | 450,000 |  |

Culsalmond Property & Investment

Company Limited (Registered number: SC235968)

Notes to the Financial Statements - continued

for the Year Ended 31 October 2024

7. | INVESTMENT PROPERTY - continued

| Fair value at 31 October 2024 is represented by:

£ |

| Valuation in 2015 | 39,544 |  |

| Valuation in 2022 | (50,000 | ) |

| Valuation in 2024 | (40,000 | ) |

| Cost | 460,456 |  |

410,000 |  |

| Investment property was valued on an open market basis on 31 October 2024 by the director .

8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.10.24 |  | 31.10.23

£ | £ |

| Other debtors | 23,354 |  | 14,022 |  |

9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.10.24 |  | 31.10.23

£ | £ |

| Amounts owed to subsidiary company | 1,929,456 |  | 2,083,456 |  |

| Taxation and social security | 3,558 |  | 2,209 |  |

| Other creditors | 4,430 |  | 2,993 |  |

1,937,444 |  | 2,088,658 |  |

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.10.24 |  | 31.10.23

| value: | £ | £ |

| 2 | Ordinary shares | £1.00 | 2 |  | 2 |  |

11. | RESERVES

| Retained

| earnings

£ |

| At 1 November 2023 | 129,000 |  |

| Deficit for the year | (29,540 | ) |

| At 31 October 2024 | 99,460 |  |

Culsalmond Property & Investment

Company Limited (Registered number: SC235968)

Notes to the Financial Statements - continued

for the Year Ended 31 October 2024

12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

| 31.10.24 |  | 31.10.23

£ | £ |

| Mr K Norrie

| Balance outstanding at start of year | (624 | ) | (312 | ) |

| Amounts advanced | 5,920 |  | - |  |

| Amounts repaid | (312 | ) | (312 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 4,984 |  | (624 | ) |