Company Registration No. SC753801 (Scotland)
Property Solutions 1953 Ltd
Unaudited accounts
for the year ended 31 December 2024
Property Solutions 1953 Ltd
Unaudited accounts
Contents
Property Solutions 1953 Ltd
Company Information
for the year ended 31 December 2024
Directors
Carol Anne MacLeod
John Norman MacLeod
Company Number
SC753801 (Scotland)
Registered Office
International House
38 Thistle Street
Edinburgh
EH2 1EN
Scotland
Property Solutions 1953 Ltd
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
31,713
2,690
Creditors: amounts falling due within one year
(330,890)
(409,879)
Net current (liabilities)/assets
(2,972)
5,005
Net (liabilities)/assets
(2,972)
5,005
Called up share capital
2
2
Profit and loss account
(2,974)
5,003
Shareholders' funds
(2,972)
5,005
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by
John Norman MacLeod
Director
Company Registration No. SC753801
Property Solutions 1953 Ltd
Notes to the Accounts
for the year ended 31 December 2024
Property Solutions 1953 Ltd is a private company, limited by shares, registered in Scotland, registration number SC753801. The registered office is International House, 38 Thistle Street, Edinburgh, EH2 1EN, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Property Solutions 1953 Ltd
Notes to the Accounts
for the year ended 31 December 2024
The directors continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future.
The directors fully understand and acknowledge the financial position of the business and believe that no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements.
Work in progress
-
248,844
Amounts falling due within one year
Accrued income and prepayments
4,918
13,118
Other debtors
290,500
150,232
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
-
1,174
Loans from directors
330,890
408,705
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
8
Transactions with related parties
At the balance sheet date, £330,890 is owed to the directors. The loan is unsecured, interest free with no fixed term for payment.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).