Tweedale Property Company Limited SC491905 false 2023-12-01 2025-03-31 2025-03-31 The principal activity of the company is provision of furnished holiday accommodation Digita Accounts Production Advanced 6.30.9574.0 true SC491905 2023-12-01 2025-03-31 SC491905 2025-03-31 SC491905 bus:Director3 2025-03-31 SC491905 bus:OrdinaryShareClass1 2025-03-31 SC491905 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC491905 core:ShareCapital 2025-03-31 SC491905 core:CurrentFinancialInstruments 2025-03-31 SC491905 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 SC491905 core:Non-currentFinancialInstruments 2025-03-31 SC491905 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 SC491905 core:CostValuation 2025-03-31 SC491905 core:DisposalsRepaymentsInvestments 2025-03-31 SC491905 core:LandBuildings 2025-03-31 SC491905 core:OtherPropertyPlantEquipment 2025-03-31 SC491905 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2025-03-31 SC491905 bus:SmallEntities 2023-12-01 2025-03-31 SC491905 bus:AuditExemptWithAccountantsReport 2023-12-01 2025-03-31 SC491905 bus:FullAccounts 2023-12-01 2025-03-31 SC491905 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2025-03-31 SC491905 bus:RegisteredOffice 2023-12-01 2025-03-31 SC491905 bus:Director1 2023-12-01 2025-03-31 SC491905 bus:Director3 2023-12-01 2025-03-31 SC491905 bus:OrdinaryShareClass1 2023-12-01 2025-03-31 SC491905 bus:PrivateLimitedCompanyLtd 2023-12-01 2025-03-31 SC491905 bus:Agent1 2023-12-01 2025-03-31 SC491905 core:Associate1 2023-12-01 2025-03-31 SC491905 core:Associate1 countries:AllCountries 2023-12-01 2025-03-31 SC491905 core:RetainedEarningsAccumulatedLosses 2023-12-01 2025-03-31 SC491905 core:ShareCapital 2023-12-01 2025-03-31 SC491905 core:LandBuildings 2023-12-01 2025-03-31 SC491905 core:OtherPropertyPlantEquipment 2023-12-01 2025-03-31 SC491905 core:PlantMachinery 2023-12-01 2025-03-31 SC491905 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-12-01 2025-03-31 SC491905 countries:AllCountries 2023-12-01 2025-03-31 SC491905 2023-11-30 SC491905 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC491905 core:ShareCapital 2023-11-30 SC491905 core:CostValuation 2023-11-30 SC491905 core:LandBuildings 2023-11-30 SC491905 core:OtherPropertyPlantEquipment 2023-11-30 SC491905 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-11-30 SC491905 2022-12-01 2023-11-30 SC491905 2023-11-30 SC491905 bus:OrdinaryShareClass1 2023-11-30 SC491905 core:CurrentFinancialInstruments 2023-11-30 SC491905 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 SC491905 core:Non-currentFinancialInstruments 2023-11-30 SC491905 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 SC491905 core:LandBuildings 2023-11-30 SC491905 core:OtherPropertyPlantEquipment 2023-11-30 SC491905 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-11-30 SC491905 core:Associate1 2022-12-01 2023-11-30 SC491905 core:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 SC491905 core:ShareCapital 2022-12-01 2023-11-30 SC491905 2022-11-30 SC491905 core:RetainedEarningsAccumulatedLosses 2022-11-30 SC491905 core:ShareCapital 2022-11-30 SC491905 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC491905

Tweedale Property Company Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 December 2023 to 31 March 2025

 

Tweedale Property Company 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 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Financial Statements

9 to 15

 

Tweedale Property Company Limited

Company Information

Director

Mr Paul Gerrard Sloan

Registered office

60 George Street
Oban
Argyll
PA34 5SD

Accountants

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

 

Tweedale Property Company Limited

Director's Report for the Period from 1 December 2023 to 31 March 2025

The director presents his report and the financial statements for the period from 1 December 2023 to 31 March 2025.

Directors of the company

The directors who held office during the period were as follows:

Mr Paul Gerrard Sloan

Mr Calum Eoghann Maclachlainn (Resigned 28 October 2024)

Principal activity

The principal activity of the company is provision of furnished holiday accommodation

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 16 August 2025
 

.........................................
Mr Paul Gerrard Sloan
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Tweedale Property Company Limited
for the Period 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 Tweedale Property Company Limited for the period ended 31 March 2025 as set out on pages 4 to 15 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 Tweedale Property Company 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 Tweedale Property Company Limited and state those matters that we have agreed to state to the Board of Directors of Tweedale Property Company 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 Tweedale Property Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Tweedale Property Company 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 Tweedale Property Company Limited. You consider that Tweedale Property Company Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Tweedale Property Company 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

16 August 2025

 

Tweedale Property Company Limited

Profit and Loss Account for the Period from 1 December 2023 to 31 March 2025

Note

2025
£

2023
£

Turnover

 

277,586

207,620

Cost of sales

 

(38,873)

-

Gross profit

 

238,713

207,620

Administrative expenses

 

(98,118)

(169,694)

Other operating income

 

500,910

-

Operating profit

 

641,505

37,926

Interest payable and similar expenses

 

(49,567)

(43,956)

Profit/(loss) before tax

3

591,938

(6,030)

Profit/(loss) for the financial period

 

591,938

(6,030)

The above results were derived from continuing operations.

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

 

Tweedale Property Company Limited

Statement of Comprehensive Income for the Period from 1 December 2023 to 31 March 2025

2025
£

2023
£

Profit/(loss) for the period

591,938

(6,030)

Total comprehensive income for the period

591,938

(6,030)

 

Tweedale Property Company Limited

(Registration number: SC491905)
Balance Sheet as at 31 March 2025

Note

2025
£

2023
£

Fixed assets

 

Tangible assets

4

1,345,119

1,908,573

Investments

5

25

50

 

1,345,144

1,908,623

Current assets

 

Debtors

6

430,415

66,343

Cash at bank and in hand

 

54,470

51,831

 

484,885

118,174

Creditors: Amounts falling due within one year

7

(310,000)

(1,186,525)

Net current assets/(liabilities)

 

174,885

(1,068,351)

Total assets less current liabilities

 

1,520,029

840,272

Creditors: Amounts falling due after more than one year

7

(710,000)

(622,181)

Net assets

 

810,029

218,091

Capital and reserves

 

Called up share capital

8

4

4

Retained earnings

810,025

218,087

Shareholders' funds

 

810,029

218,091

For the financial period 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 period 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 16 August 2025
 

 

Tweedale Property Company Limited

(Registration number: SC491905)
Balance Sheet as at 31 March 2025

.........................................
Mr Paul Gerrard Sloan
Director

 

Tweedale Property Company Limited

Statement of Changes in Equity for the Period from 1 December 2023 to 31 March 2025

Share capital
£

Retained earnings
£

Total
£

At 1 December 2023

4

218,087

218,091

Profit for the period

-

591,938

591,938

At 31 March 2025

4

810,025

810,029

Share capital
£

Retained earnings
£

Total
£

At 1 December 2022

4

224,117

224,121

Loss for the period

-

(6,030)

(6,030)

At 30 November 2023

4

218,087

218,091

 

Tweedale Property Company Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 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.

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

Land & buildings

In accordance with the property

Plant & machinery

20% reducing balance

Investment property

Investment property is accounted for in accordance with the cost model (cost less accumulated depreciation)

 

Tweedale Property Company Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 March 2025

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Borrowings

 

Tweedale Property Company Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 March 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

2

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2023 - 2).

3

Profit/loss before tax

Arrived at after charging/(crediting)

2025
£

2023
£

Depreciation expense

-

8,408

 

Tweedale Property Company Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 March 2025

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

1,874,939

66,332

1,941,271

Additions

331,180

-

331,180

Disposals

(861,000)

(66,332)

(927,332)

At 31 March 2025

1,345,119

-

1,345,119

Depreciation

At 1 December 2023

-

32,698

32,698

Eliminated on disposal

-

(32,698)

(32,698)

At 31 March 2025

-

-

-

Carrying amount

At 31 March 2025

1,345,119

-

1,345,119

At 30 November 2023

1,874,939

33,634

1,908,573

Included within the net book value of land and buildings above is £1,345,119 (2023 - £1,874,939) in respect of freehold land and buildings.
 

5

Investments

2025
£

2023
£

Investments in associates

25

50

Associates

£

Cost

At 1 December 2023

50

Disposals

(25)

At 31 March 2025

25

Provision

Carrying amount

At 31 March 2025

25

At 30 November 2023

50

 

Tweedale Property Company Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 March 2025

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2025

2023

Associates

Garrison Apartments Ltd

c/o Consilium Chartered Accountants, 169 West George Street, Glasgow G2 2LB

Ordinary shares

25%

50%

Scotland

Associates

Garrison Apartments Ltd

The principal activity of Garrison Apartments Ltd is Property.

6

Debtors

Current

Note

2025
£

2023
£

Trade debtors

 

2,167

727

Amounts owed by related parties

10

360,000

-

Other debtors

 

68,248

65,616

   

430,415

66,343

 

Tweedale Property Company Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

2025
£

2023
£

Due within one year

Trade creditors

-

5,615

Other creditors

310,000

1,180,910

310,000

1,186,525

Creditors: amounts falling due after more than one year

Note

2025
£

2023
£

Due after one year

 

Loans and borrowings

9

710,000

622,181

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £710,000 (2023 - £622,181).

8

Share capital

Allotted, called up and fully paid shares

2025

2023

No.

£

No.

£

Ordinary of £1 each

4

4

4

4

       

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2023
£

Bank borrowings

710,000

622,181

10

Related party transactions

Summary of transactions with all entities with joint control or significant interest

Sloan Wells Holdings Ltd Long term loan to Sloan Wells Holdings Ltd to enable it to buyout a shareholder in this company

 

Tweedale Property Company Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2023 to 31 March 2025

Loans to related parties

2025

Entities with joint control or significant influence
£

Total
£

At start of period

(290,000)

(290,000)

Advanced

650,000

650,000

At end of period

360,000

360,000

2023

Entities with joint control or significant influence
£

Total
£

At start of period

(290,000)

(290,000)

At end of period

(290,000)

(290,000)