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REGISTERED NUMBER: SC498389 (Scotland)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

STRATHAIRD PROPERTY LIMITED

STRATHAIRD PROPERTY LIMITED (REGISTERED NUMBER: SC498389)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


STRATHAIRD PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Mrs J Gray
Mrs S H Sharp



REGISTERED OFFICE: 6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ



REGISTERED NUMBER: SC498389 (Scotland)



ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ



BANKERS: Barclays Bank PLC
Aurora Building
120 Bothwell Street
Glasgow
G2 7JT

STRATHAIRD PROPERTY LIMITED (REGISTERED NUMBER: SC498389)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,643,557 2,718,602
Investments 5 50,000 50,000
2,693,557 2,768,602

CURRENT ASSETS
Debtors 6 60,000 4,979
Cash at bank 98,745 15
158,745 4,994
CREDITORS
Amounts falling due within one year 7 3,773,380 3,713,209
NET CURRENT LIABILITIES (3,614,635 ) (3,708,215 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(921,078

)

(939,613

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (921,079 ) (939,614 )
SHAREHOLDERS' FUNDS (921,078 ) (939,613 )

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.

STRATHAIRD PROPERTY LIMITED (REGISTERED NUMBER: SC498389)

STATEMENT OF FINANCIAL POSITION - 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 23 June 2025 and were signed on its behalf by:





Mrs S H Sharp - Director


STRATHAIRD PROPERTY LIMITED (REGISTERED NUMBER: SC498389)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Strathaird Property 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
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The company's liabilities exceeded its assets by £921,078 at 31 October 2024 (2023: £939,613). The company is thus dependent on the continued financial support of its creditors. The directors are confident of this continuing support and of the company's long term trading prospects and on this basis considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of financial support.

Turnover
Turnover comprises of rental income for the year and is recognised as it is earned.

STRATHAIRD PROPERTY LIMITED (REGISTERED NUMBER: SC498389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are recorded at cost, net of depreciation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property- 2% on a straight line basis

Impairment of fixed assets
At each reporting end date, the company reviews the carrying amounts of its tangible and intangible 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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

STRATHAIRD PROPERTY LIMITED (REGISTERED NUMBER: SC498389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Taxation
The tax expense represents the sum of the corporation tax and deferred tax charge for the year.

Current tax
The tax currently payable is based on taxable profits for the year. The company's liability for current tax is calculated using the tax rates that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is measured on differences between the carrying amounts of assets and liabilities in the accounts and the corresponding tax bases, as used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all temporary timing differences that have originated but not reversed by the balance sheet date and are not recognised as permanent differences. Deferred tax assets are recognised to the extent that it is probable that taxable profits will be available in the future. Deferred tax is calculated at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is charged or credited in the profit and loss account where applicable.

STRATHAIRD PROPERTY LIMITED (REGISTERED NUMBER: SC498389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

STRATHAIRD PROPERTY LIMITED (REGISTERED NUMBER: SC498389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2023 3,752,272 112,474 3,864,746
Disposals - (112,474 ) (112,474 )
At 31 October 2024 3,752,272 - 3,752,272
DEPRECIATION
At 1 November 2023 1,033,670 112,474 1,146,144
Charge for year 75,045 - 75,045
Eliminated on disposal - (112,474 ) (112,474 )
At 31 October 2024 1,108,715 - 1,108,715
NET BOOK VALUE
At 31 October 2024 2,643,557 - 2,643,557
At 31 October 2023 2,718,602 - 2,718,602

STRATHAIRD PROPERTY LIMITED (REGISTERED NUMBER: SC498389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2023
and 31 October 2024 50,000
NET BOOK VALUE
At 31 October 2024 50,000
At 31 October 2023 50,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 60,000 -
Other debtors - 4,979
60,000 4,979

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 3,726,047 3,666,877
Taxation and social security 10,000 -
Other creditors 37,333 46,332
3,773,380 3,713,209

8. RELATED PARTY DISCLOSURES

Throughout the year and the previous year the company was under the immediate control of Strathaird Holdings Limited which holds 100% of the company's issued share capital. The company has taken advantage of exemption, under the terms of FRS 102, not to disclose related party transactions with wholly owned subsidiaries within the group.

9. ULTIMATE PARENT COMPANY

Strathaird Holdings Limited is regarded by the directors as being the company's ultimate parent company.

The ultimate parent company of Strathaird Property Limited is Strathaird Holdings Limited, a company incorporated in Great Britain and registered in Scotland. Copies of the financial statements of Strathaird Holdings Limited can be obtained from 6th Floor Gordon Chambers, 90 Mitchell Street, Glasgow, G1 3NQ . The ultimate controlling party is deemed to be the executors of the late director M A M Sharp by virtue of his controlling interest in Strathaird Holdings Limited.