Company registration number SC407322 (Scotland)
STUCKGOWAN ESTATE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
STUCKGOWAN ESTATE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
STUCKGOWAN ESTATE LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
31 December 2024
30 September 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
7,256,622
3,304,741
Investments
5
1
1
7,256,623
3,304,742
Current assets
Debtors
6
399
-
0
Cash at bank and in hand
141,176
150,842
141,575
150,842
Creditors: amounts falling due within one year
7
(152,705)
(148,488)
Net current (liabilities)/assets
(11,130)
2,354
Total assets less current liabilities
7,245,493
3,307,096
Creditors: amounts falling due after more than one year
8
(4,108,267)
(3,481,472)
Provisions for liabilities
(787,486)
31,634
Net assets/(liabilities)
2,349,740
(142,742)
Capital and reserves
Called up share capital
9
1
1
Revaluation reserve
3,445,359
-
0
Profit and loss reserves
(1,095,620)
(142,743)
Total equity
2,349,740
(142,742)
STUCKGOWAN ESTATE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -

For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 14 September 2025 and are signed on its behalf by:
Mr Brian Mitchell Aitken
Director
Company registration number SC407322 (Scotland)
STUCKGOWAN ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Stuckgowan Estate Limited is a private company limited by shares incorporated in Scotland. The registered office is 58 Morrison Street, Edinburgh, Scotland, EH3 8BP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The group qualif ies as small as set out in section 383 of the Act, and the group is not ineligible as set out in section 384 of the Act, and is therefore exempted from preparing group accounts by Section 399.

1.2
Going concern

The directors are confident that the business will continue to operate as a going concern. In reaching this decision, they have considered the support of the shareholder, the valuation of the underlying properties, which are recorded at cost, and demand for future lettings.

1.3
Reporting period

The company's year end has been adjusted to 31 December to encompass a calendar year. As such, these accounts are for a 15 month period and the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rental services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation as the residual value is estimated as being in excess of cost
Leasehold improvements
Plant and machinery
15% straight line
Fixtures, fittings & equipment
15% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

STUCKGOWAN ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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.

1.8
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

STUCKGOWAN ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.9
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.

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.

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

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 paymen ts 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. A m ounts 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.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

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 company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

STUCKGOWAN ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax

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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. 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.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

STUCKGOWAN ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 7 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2023
Number
Number
Total
5
4
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 October 2023
3,265,451
513,432
3,778,883
Additions
511,850
24,371
536,221
Revaluation
3,445,359
-
0
3,445,359
At 31 December 2024
7,222,660
537,803
7,760,463
Depreciation and impairment
At 1 October 2023
6
474,136
474,142
Depreciation charged in the period
3,970
25,729
29,699
At 31 December 2024
3,976
499,865
503,841
Carrying amount
At 31 December 2024
7,218,684
37,938
7,256,622
At 30 September 2023
3,265,445
39,296
3,304,741

Land and buildings with a carrying amount of £3,729,641 were revalued at 31 December 2024 by the directors based on informal advice based on recent market transactions on arm's length terms for similar properties.

Land and buildings are carried at valuation. If l and and buildings were measured using the cost model, the carrying amounts would have been approximately £3,773,325 (2023 - £3,265,445), being cost £3,777,301 (2023 - £3,265,451) and depreciation £3,976 (2023 - £6).

5
Fixed asset investments
2024
2023
£
£
Investments
1
1
STUCKGOWAN ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
5
Fixed asset investments
(Continued)
- 8 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 October 2023 & 31 December 2024
1
Carrying amount
At 31 December 2024
1
At 30 September 2023
1
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
399
-
0
7
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
4,900
18,667
Other creditors
147,805
129,821
152,705
148,488
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
4,108,267
3,481,472
9
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
2024-12-31 2023-10-01 false false false CCH Software CCH Accounts Production 2025.100 No description of principal activity Mr Brian Mitchell Aitken Mrs Elloise Felton Mrs Jean Aitken AS Company Services Limited SC407322 2023-10-01 2024-12-31 SC407322 2024-12-31 SC407322 2023-09-30 SC407322 core:LandBuildings 2024-12-31 SC407322 core:OtherPropertyPlantEquipment 2024-12-31 SC407322 core:LandBuildings 2023-09-30 SC407322 core:OtherPropertyPlantEquipment 2023-09-30 SC407322 core:ShareCapital 2024-12-31 SC407322 core:ShareCapital 2023-09-30 SC407322 core:RevaluationReserve 2024-12-31 SC407322 core:RevaluationReserve 2023-09-30 SC407322 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC407322 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC407322 core:ShareCapitalOrdinaryShareClass1 2024-12-31 SC407322 core:ShareCapitalOrdinaryShareClass1 2023-09-30 SC407322 bus:Director1 2023-10-01 2024-12-31 SC407322 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-01 2024-12-31 SC407322 core:PlantMachinery 2023-10-01 2024-12-31 SC407322 core:FurnitureFittings 2023-10-01 2024-12-31 SC407322 core:MotorVehicles 2023-10-01 2024-12-31 SC407322 2022-10-01 2023-09-30 SC407322 core:LandBuildings 2023-09-30 SC407322 core:OtherPropertyPlantEquipment 2023-09-30 SC407322 2023-09-30 SC407322 core:LandBuildings 2023-10-01 2024-12-31 SC407322 core:OtherPropertyPlantEquipment 2023-10-01 2024-12-31 SC407322 core:WithinOneYear 2024-12-31 SC407322 core:WithinOneYear 2023-09-30 SC407322 core:CurrentFinancialInstruments 2024-12-31 SC407322 core:CurrentFinancialInstruments 2023-09-30 SC407322 core:Non-currentFinancialInstruments 2024-12-31 SC407322 core:Non-currentFinancialInstruments 2023-09-30 SC407322 bus:OrdinaryShareClass1 2023-10-01 2024-12-31 SC407322 bus:OrdinaryShareClass1 2024-12-31 SC407322 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-12-31 SC407322 bus:FRS102 2023-10-01 2024-12-31 SC407322 bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-12-31 SC407322 bus:Director2 2023-10-01 2024-12-31 SC407322 bus:Director3 2023-10-01 2024-12-31 SC407322 bus:CompanySecretary1 2023-10-01 2024-12-31 SC407322 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-12-31 SC407322 bus:FullAccounts 2023-10-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP