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Registered number: SC516853
Gilcomstoun Properties Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 September 2024
Airton Broomhill Consulting
ACCA
88 Pittodrie Place
Aberdeen
AB24 5QT
Contents
Page
Company Information 1
Accountant's Report 2
Abridged Statement of Financial Position 3—4
Notes to the Abridged Financial Statements 5—6
Page 1
Company Information
Director Mr Ka Wai Cheng
Company Number SC516853
Registered Office 67 Gilcomstoun Land
Aberdeen
Aberdeens City
AB10 1TB
Accountants Airton Broomhill Consulting
ACCA
88 Pittodrie Place
Aberdeen
AB24 5QT
Page 1
Page 2
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Gilcomstoun Properties Ltd for the year ended 30 September 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Gilcomstoun Properties Ltd which comprise the Income Statement, the Statement of Financial Position and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Gilcomstoun Properties Ltd , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Gilcomstoun Properties Ltd and state those matters that we have agreed to state to the director of Gilcomstoun Properties Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gilcomstoun Properties Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Gilcomstoun Properties Ltd 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 or loss of Gilcomstoun Properties Ltd . You consider that Gilcomstoun Properties Ltd 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 Gilcomstoun Properties Ltd . 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 financial statements.
Airton Broomhill Consulting
23/07/2025
Airton Broomhill Consulting
ACCA
88 Pittodrie Place
Aberdeen
AB24 5QT
Page 2
Page 3
Abridged Statement of Financial Position
Registered number: SC516853
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 178,774 183,189
Investments 5 297,150 304,030
475,924 487,219
CURRENT ASSETS
Debtors - 12,000
Cash at bank and in hand 23,580 20,752
23,580 32,752
Creditors: Amounts Falling Due Within One Year (147,214 ) (152,784 )
NET CURRENT ASSETS (LIABILITIES) (123,634 ) (120,032 )
TOTAL ASSETS LESS CURRENT LIABILITIES 352,290 367,187
Creditors: Amounts Falling Due After More Than One Year 6 (42,293 ) (68,701 )
NET ASSETS 309,997 298,486
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 309,897 298,386
SHAREHOLDERS' FUNDS 309,997 298,486
Page 3
Page 4
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
All of the company's members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position for the year end 30 September 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Ka Wai Cheng
Director
23/07/2025
The notes on pages 5 to 6 form part of these financial statements.
Page 4
Page 5
Notes to the Abridged Financial Statements
1. General Information
Gilcomstoun Properties Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC516853 . The registered office is 67 Gilcomstoun Land, Aberdeen, Aberdeens City, AB10 1TB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Computer Equipment 25% reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Total
£
Cost or Valuation
As at 1 October 2023 206,041
As at 30 September 2024 206,041
Depreciation
As at 1 October 2023 22,852
Provided during the period 4,415
As at 30 September 2024 27,267
Net Book Value
As at 30 September 2024 178,774
As at 1 October 2023 183,189
Page 5
Page 6
5. Investments
Total
£
Cost
As at 1 October 2023 304,030
As at 30 September 2024 304,030
Provision
As at 1 October 2023 -
Impairment losses 6,880
As at 30 September 2024 6,880
Net Book Value
As at 30 September 2024 297,150
As at 1 October 2023 304,030
7. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 52,700 68,701
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6