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Registration number: SC590358

Argyll Estate Agents Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Argyll Estate Agents Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 11

 

Argyll Estate Agents Limited

Company Information

Director

Mr John Neil McKillop

Registered office

20 Argyll Street
Lochgilphead
Argyll
PA31 8NE

Accountants

Jack MacDonald & Co Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

 

Argyll Estate Agents Limited

Director's Report for the Year Ended 31 March 2025

The director presents his report and the financial statements for the year ended 31 March 2025.

Director of the company

The director who held office during the year was as follows:

Mr John Neil McKillop

Principal activity

The principal activity of the company is estate agents

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 21 June 2025
 

.........................................
Mr John Neil McKillop
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Argyll Estate Agents Limited
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Argyll Estate Agents Limited for the year ended 31 March 2025 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Argyll Estate Agents Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Argyll Estate Agents Limited and state those matters that we have agreed to state to the Board of Directors of Argyll Estate Agents Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Argyll Estate Agents Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Argyll Estate Agents Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Argyll Estate Agents Limited. You consider that Argyll Estate Agents Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Argyll Estate Agents Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

21 June 2025

 

Argyll Estate Agents Limited

Profit and Loss Account for the Year Ended 31 March 2025

Note

2025
£

2024
£

Turnover

 

151,690

185,567

Cost of sales

 

-

(47,273)

Gross profit

 

151,690

138,294

Administrative expenses

 

(96,426)

(68,861)

Operating profit

 

55,264

69,433

Profit before tax

3

55,264

69,433

Tax on profit

 

(11,663)

(10,852)

Profit for the financial year

 

43,601

58,581

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Argyll Estate Agents Limited

Statement of Comprehensive Income for the Year Ended 31 March 2025

2025
£

2024
£

Profit for the year

43,601

58,581

Total comprehensive income for the year

43,601

58,581

 

Argyll Estate Agents Limited

(Registration number: SC590358)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

11,464

14,330

Current assets

 

Debtors

5

-

1,392

Cash at bank and in hand

 

20,862

4,696

 

20,862

6,088

Creditors: Amounts falling due within one year

6

(32,027)

(30,720)

Net current liabilities

 

(11,165)

(24,632)

Net assets/(liabilities)

 

299

(10,302)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

298

(10,303)

Shareholders' funds/(deficit)

 

299

(10,302)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 21 June 2025
 

.........................................
Mr John Neil McKillop
Director

 

Argyll Estate Agents Limited

Statement of Changes in Equity for the Year Ended 31 March 2025

Share capital
£

Retained earnings
£

Total
£

At 1 April 2024

1

(10,303)

(10,302)

Profit for the year

-

43,601

43,601

Dividends

-

(33,000)

(33,000)

At 31 March 2025

1

298

299

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

1

12,116

12,117

Profit for the year

-

58,581

58,581

Dividends

-

(81,000)

(81,000)

At 31 March 2024

1

(10,303)

(10,302)

 

Argyll Estate Agents Limited

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

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% reducing balance

 

Argyll Estate Agents Limited

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

3

Profit before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

2,866

3,582

 

Argyll Estate Agents Limited

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

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

17,912

17,912

At 31 March 2025

17,912

17,912

Depreciation

At 1 April 2024

3,582

3,582

Charge for the year

2,866

2,866

At 31 March 2025

6,448

6,448

Carrying amount

At 31 March 2025

11,464

11,464

At 31 March 2024

14,330

14,330

5

Debtors

Current

2025
£

2024
£

Other debtors

-

1,392

 

-

1,392

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

12,636

19,072

Taxation and social security

18,595

10,852

Other creditors

796

796

32,027

30,720

7

Share capital

Allotted, called up and fully paid shares

 

Argyll Estate Agents Limited

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

2025

2024

No.

£

No.

£

Ordinary shares of £0.01 each

100

1

100

1

       

8

Dividends

2025

2024

£

£

Interim dividend of £330.00 (2024 - £810.00) per ordinary share

33,000

81,000

 

 

9

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2025
£

2024
£

Remuneration

12,000

12,000