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Registered Number: SC451051
Scotland

 

 

 

RINNEROON PROPERTIES LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2024

End date: 31 January 2025
Directors P Dolan
G Ward
Registered Number SC451051
Registered Office Unit 26, Dunfermline Business Centre
Izatt Avenue
Dunfermline
Fife
KY11 3BZ
Accountants M & S Accountancy & Taxation Limited
Unit 26, Dunfermline Business Centre
Izatt Avenue
Dunfermline
Fife
KY11 3BZ
Secretary P Dolan
1
 
 
Notes
 
2025
£
  2024
£
Fixed assets      
Tangible fixed assets 3 196,183    208,512 
196,183    208,512 
Current assets      
Debtors 4 2,356    2,419 
Cash at bank and in hand 26,087    111,786 
28,443    114,205 
Creditors: amount falling due within one year 5 (595,527)   (695,524)
Net current assets (567,084)   (581,319)
 
Total assets less current liabilities (370,901)   (372,807)
Provisions for liabilities 6 (985)   (1,314)
Net assets (371,886)   (374,121)
 

Capital and reserves
     
Called up share capital 7 100    100 
Profit and loss account (371,986)   (374,221)
Shareholders' funds (371,886)   (374,121)
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 25 August 2025 and were signed on its behalf by:


-------------------------------
P Dolan
Director
2
General Information
Rinneroon Properties Ltd is a private company, limited by shares, registered in Scotland, registration number SC451051, registration address Unit 26, Dunfermline Business Centre, Izatt Avenue, Dunfermline, Fife, KY11 3BZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
These financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. The directors have agreed to provide financial assistance to the company to ensure that all liabilities are met as they fall due and they will not seek repayment of amounts due to them until there are sufficient cash reserves to do so. The directors have considered a period of twelve months from the date of approval of the financial statements.
Turnover
Turnover is recognised on a straight line basis over the term of the lease.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The companys liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred taxation
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 5% Straight Line
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Straight Line
Investment properties
Investment property, which is property held to earn rentals and/or capital appreciations, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
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 balance sheet 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.
2.

Average number of employees

Average number of employees during the year was 2 (2024 : 2).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 February 2024 212,197    34,800    12,826    259,823 
Additions      
Disposals      
At 31 January 2025 212,197    34,800    12,826    259,823 
Depreciation
At 01 February 2024 10,600    27,885    12,826    51,311 
Charge for year 10,600    1,729      12,329 
On disposals      
At 31 January 2025 21,200    29,614    12,826    63,640 
Net book values
Closing balance as at 31 January 2025 190,997    5,186      196,183 
Opening balance as at 01 February 2024 201,597    6,915      208,512 


4.

Debtors: amounts falling due within one year

2025
£
  2024
£
Trade Debtors 2,326    2,319 
Other Debtors 30    100 
2,356    2,419 

5.

Creditors: amount falling due within one year

2025
£
  2024
£
Trade Creditors 264   
Corporation Tax 3,339    3,830 
Accrued Expenses 2,100    1,500 
Other Creditors 574,127    574,127 
Directors' Current Accounts 15,697    116,067 
595,527    695,524 

6.

Provisions for liabilities

2025
£
  2024
£
Deferred Tax 985    1,314 
985    1,314 

7.

Share Capital

Allotted, called up and partly paid
2025
£
  2024
£
70 Ordinary shares of £1.00 each 70    70 
30 Ordinary B shares of £1.00 each 30    30 
100    100 
70 ordinary shares have been issued and fully paid.
30 B ordinary shares have been issued and not fully paid.


8.

Related Parties

During the year the company entered into the following transactions with related parties:
  2025
£
  2024
£
Key Management Personnel (15,697) (116,067)
Other Related Parties (574,127) (574,127)

Related party transactions are unsecured, interest free and have no fixed terms of repayment. 
3