REGISTERED NUMBER: SC708923 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

SORCHA DEVELOPMENTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C L Ross

Miss K Tough

REGISTERED OFFICE:

The Haughs

Rothienorman

Inverurie

Aberdeenshire

AB51 8YB

REGISTERED NUMBER:

SC708923 (Scotland)

FIXED ASSETS

Tangible assets

5

11,455

15,367

Investment property

6

515,000

135,000

526,455

150,367

CURRENT ASSETS

Stocks

243,960

168,198

Debtors

7

-

725

Cash at bank

22,367

28,351

266,327

197,274

CREDITORS

Amounts falling due within one year

8

5,608

4,621

NET CURRENT ASSETS

260,719

192,653

TOTAL ASSETS LESS CURRENT LIABILITIES

787,174

343,020

CREDITORS

Amounts falling due after more than one year

9

735,677

328,819

NET ASSETS

51,497

14,201

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

51,397

14,101

SHAREHOLDERS' FUNDS

51,497

14,201

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2025 and were signed on its behalf by:

Miss K Tough - Director

C L Ross - Director

1.	STATUTORY INFORMATION

SORCHA Developments Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates

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.

The directors consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 20% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held in 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2023

and 30 September 2024

20,424

DEPRECIATION

At 1 October 2023

5,057

Charge for year

3,912

At 30 September 2024

8,969

NET BOOK VALUE

At 30 September 2024

11,455

At 30 September 2023

15,367

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 October 2023

and 30 September 2024

16,799

DEPRECIATION

At 1 October 2023

4,462

Charge for year

3,084

At 30 September 2024

7,546

NET BOOK VALUE

At 30 September 2024

9,253

At 30 September 2023

12,337

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

135,000

Additions

269,914

Revaluations

110,086

At 30 September 2024

515,000

NET BOOK VALUE

At 30 September 2024

515,000

At 30 September 2023

135,000

Fair value at 30 September 2024 is represented by:

£

Valuation in 2023

40,673

Valuation in 2024

110,086

Cost

364,241

515,000

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

364,241

94,327

Investment property was valued on an open market basis on 30 September 2024 by Shepherds Chartered Surveyors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

-

725

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

2,800

2,800

Taxation and social security

123

121

Other creditors

2,685

1,700

5,608

4,621

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

393,052

181,500

Hire purchase contracts

5,600

8,399

Other creditors

337,025

138,920

735,677

328,819

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

393,052

181,500

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of the fact that they own the majority of the issued share capital of the company.