REGISTERED NUMBER: SC309891 (Scotland)

Financial Statements for the Year Ended 30 November 2024

for

Map Period Properties Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Peteranna

REGISTERED OFFICE:

Waterside

St Andrew's Walk

Fortrose

Highland

IV10 8TP

REGISTERED NUMBER:

SC309891 (Scotland)

ACCOUNTANTS:

Highland Accountancy Practice

Chartered Accountants

Suite 1A, Willow House

Stoneyfield Business Park

Inverness

Highland

IV2 7PA

FIXED ASSETS

Tangible assets

4

298,096

293,349

Investment property

5

150,000

20,000

448,096

313,349

CURRENT ASSETS

Debtors

25

39,253

Cash at bank

2,827

46,047

2,852

85,300

CREDITORS

Amounts falling due within one year

188,833

210,820

NET CURRENT LIABILITIES

(185,981

)

(125,520

)

TOTAL ASSETS LESS CURRENT LIABILITIES

262,115

187,829

PROVISIONS FOR LIABILITIES

62,655

38,963

NET ASSETS

199,460

148,866

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation Reserve

6

101,032

101,032

Fair value reserve

6

71,250

-

Retained earnings

27,176

47,832

SHAREHOLDERS' FUNDS

199,460

148,866

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

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

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2025 and were signed by:

A Peteranna - Director

1.	STATUTORY INFORMATION

Map Period Properties Limited 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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 the cost less estimated residual value of each asset over its estimated useful life.

Plant and Machinery

-

20% on reducing balance

Motor Vehicles

-

25% on reducing balance

Computer Equipment

-

33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation, impairment losses, and reversals of impairment losses (where applicable).

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.

The investment property has been revalued in line with disposal proceeds received shortly after the year end, with this value deemed to be fair market value as at 30 November 2024.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Long term contracts

For work in progress and finished goods under long term contracts, profit is recognised in accordance with the percentage of project completion. Income is therefore accrued annually in line with percentage completion.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 December 2023

304,076

Additions

8,179

At 30 November 2024

312,255

DEPRECIATION

At 1 December 2023

10,727

Charge for year

3,432

At 30 November 2024

14,159

NET BOOK VALUE

At 30 November 2024

298,096

At 30 November 2023

293,349

Cost or valuation at 30 November 2024 is represented by:

Totals

£

Valuation in 2023

137,458

Cost

174,797

312,255

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

30.11.24

30.11.23

£

£

Cost

150,721

142,542

Freehold property was valued on a fair market value basis on 8 February 2024 by Shepherd chartered surveyors .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2023

20,000

Revaluations

130,000

At 30 November 2024

150,000

NET BOOK VALUE

At 30 November 2024

150,000

At 30 November 2023

20,000

Fair value at 30 November 2024 is represented by:

£

Valuation in 2021

(35,000

)

Valuation in 2024

130,000

Cost

55,000

150,000

6.

RESERVES

Fair

Revaluation

value

Reserve

reserve

Totals

£

£

£

At 1 December 2023

101,032

-

101,032

Non Distributable Reserves

-

71,250

71,250

At 30 November 2024

101,032

71,250

172,282

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

30.11.24

30.11.23

£

£

A Peteranna

Balance outstanding at start of year

(194,617

)

(198,247

)

Amounts advanced

40,860

36,553

Amounts repaid

(35,610

)

(32,923

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(189,367

)

(194,617

)

8.	ULTIMATE CONTROLLING PARTY