REGISTERED NUMBER: SC063957 (Scotland)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 January 2025

for

Angusfield Property Company Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

Mrs V Harper

P Harper

REGISTERED OFFICE:

17 North Anderson Drive

Aberdeen

Aberdeenshire

AB15 6DZ

REGISTERED NUMBER:

SC063957 (Scotland)

ACCOUNTANTS:

MacDonald Accountancy Services

11 Margaret Street

Stonehaven

Aberdeenshire

AB39 2AY

The directors present their report with the financial statements of the company for the year ended 31 January 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 February 2024 to the date of this report.

Mrs V Harper

P Harper

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

P Harper - Director

6 March 2025

TURNOVER

186,343

193,394

Administrative expenses

110,867

(152,711

)

OPERATING PROFIT

4

75,476

346,105

Interest payable and similar expenses

190,993

196,579

(LOSS)/PROFIT BEFORE TAXATION

(115,517

)

149,526

Tax on (loss)/profit

-

5,187

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(115,517

)

144,339

FIXED ASSETS

Tangible assets

5

15,492

20,656

Investment property

6

4,451,000

4,451,000

4,466,492

4,471,656

CURRENT ASSETS

Debtors

7

239,768

295,875

Cash at bank

2,258

16,119

242,026

311,994

CREDITORS

Amounts falling due within one year

8

475,525

359,858

NET CURRENT LIABILITIES

(233,499

)

(47,864

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,232,993

4,423,792

CREDITORS

Amounts falling due after more than one year

9

2,099,522

2,099,628

NET ASSETS

2,133,471

2,324,164

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

11

1,101,777

1,176,953

Retained earnings

1,031,594

1,147,111

SHAREHOLDERS' FUNDS

2,133,471

2,324,164

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by:

P Harper - Director

1.	STATUTORY INFORMATION

Angusfield Property Company 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 each asset over its estimated useful life.

Fixtures and fittings

-

25% 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.1.25

31.1.24

£

£

Depreciation - owned assets

5,164

7,016

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 February 2024

and 31 January 2025

275,634

1,897

277,531

DEPRECIATION

At 1 February 2024

256,194

681

256,875

Charge for year

4,860

304

5,164

At 31 January 2025

261,054

985

262,039

NET BOOK VALUE

At 31 January 2025

14,580

912

15,492

At 31 January 2024

19,440

1,216

20,656

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2024

and 31 January 2025

4,451,000

NET BOOK VALUE

At 31 January 2025

4,451,000

At 31 January 2024

4,451,000

Fair value at 31 January 2025 is represented by:

£

Valuation in 2023

4,935,000

Valuation in 2024

(484,000

)

4,451,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

1,704

2,670

Other debtors

238,064

293,205

239,768

295,875

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade creditors

7,341

2,479

Taxation and social security

6,520

7,422

Other creditors

461,664

349,957

475,525

359,858

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans

2,099,522

2,099,628

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

31.1.24

£

£

Bank loans

2,099,522

2,099,628

11.

RESERVES

Revaluation

reserve

£

At 1 February 2024

1,176,953

Revaluation in year

(75,176

)

At 31 January 2025

1,101,777