REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
STANDARD REAL ESTATE BOTHWELL LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
STANDARD REAL ESTATE BOTHWELL LIMITED |
STANDARD REAL ESTATE BOTHWELL LIMITED (REGISTERED NUMBER: SC498671) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 September 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 7 |
STANDARD REAL ESTATE BOTHWELL LIMITED |
COMPANY INFORMATION |
for the Year Ended 30 September 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
16 Royal Terrace |
Glasgow |
G3 7NY |
STANDARD REAL ESTATE BOTHWELL LIMITED (REGISTERED NUMBER: SC498671) |
ABRIDGED BALANCE SHEET |
30 September 2024 |
30.9.24 | 30.9.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
STANDARD REAL ESTATE BOTHWELL LIMITED (REGISTERED NUMBER: SC498671) |
ABRIDGED BALANCE SHEET - continued |
30 September 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
STANDARD REAL ESTATE BOTHWELL LIMITED (REGISTERED NUMBER: SC498671) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 September 2024 |
1. | STATUTORY INFORMATION |
Standard Real Estate Bothwell Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in sterling, which is the functional currency of the company. |
Monetary amounts in these financial statements are rounded to the nearest £. |
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 |
Investment property |
Investment properties are revalued at their open market value in accordance with the FRSSE (effective April 2008). The surplus or deficit on revaluation is transferred to a revaluation reserve except where the deficit reduces the property below its historical cost in which case it is taken to the profit and loss account. |
No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. |
The provisions of the FRSSE (effective April 2008) in respect of investment properties have therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made, the profit/loss for the year would have been decreased/increased by depreciation. |
However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separately identified. |
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. |
STANDARD REAL ESTATE BOTHWELL LIMITED (REGISTERED NUMBER: SC498671) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 October 2023 |
and 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2023 |
Disposals | ( |
) |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
STANDARD REAL ESTATE BOTHWELL LIMITED (REGISTERED NUMBER: SC498671) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2024 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 30 September 2024 is represented by: |
£ |
Valuation in 2018 | 515,000 |
Valuation in 2019 | (105,131 | ) |
Valuation in 2020 | 353,348 |
Cost | 736,783 |
1,500,000 |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
30.9.24 | 30.9.23 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 66,433 | 451,797 |
7. | LOANS |
An analysis of the maturity of loans is given below: |
30.9.24 | 30.9.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 66,433 | 451,797 |
8. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 October 2023 |
and 30 September 2024 |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
STANDARD REAL ESTATE BOTHWELL LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Standard Real Estate Bothwell Limited for the year ended 30 September 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts. |
This report is made solely to the Board of Directors of Standard Real Estate Bothwell Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Standard Real Estate Bothwell Limited and state those matters that we have agreed to state to the Board of Directors of Standard Real Estate Bothwell Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Standard Real Estate Bothwell Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Standard Real Estate Bothwell Limited. You consider that Standard Real Estate Bothwell 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 financial statements of Standard Real Estate Bothwell 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 financial statements. |
16 Royal Terrace |
Glasgow |
G3 7NY |