1 March 2024 false Taxfiler 2024.6 SC622845 business:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 SC622845 2024-02-29 SC622845 2024-03-01 2025-02-28 SC622845 business:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 SC622845 business:FilletedAccounts 2024-03-01 2025-02-28 SC622845 2025-02-28 SC622845 business:Director1 2024-03-01 2025-02-28 SC622845 business:Director2 2024-03-01 2025-02-28 SC622845 business:RegisteredOffice 2024-03-01 2025-02-28 SC622845 2024-02-29 SC622845 core:WithinOneYear 2025-02-28 SC622845 core:WithinOneYear 2024-02-29 SC622845 core:AfterOneYear 2025-02-28 SC622845 core:AfterOneYear 2024-02-29 SC622845 core:ShareCapital core:PreviouslyStatedAmount 2025-02-28 SC622845 core:ShareCapital core:PreviouslyStatedAmount 2024-02-29 SC622845 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2025-02-28 SC622845 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2024-02-29 SC622845 core:PreviouslyStatedAmount 2025-02-28 SC622845 core:PreviouslyStatedAmount 2024-02-29 SC622845 business:SmallEntities 2024-03-01 2025-02-28 SC622845 countries:Scotland 2024-03-01 2025-02-28 SC622845 core:MotorVehicles 2024-03-01 2025-02-28 SC622845 core:MotorVehicles 2024-02-29 SC622845 core:MotorVehicles 2025-02-28 SC622845 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
Company Registration No. SC622845 (Scotland)
PROPERTY ASSET DEVELOPMENTS LTD Unaudited accounts for the year ended 28 February 2025
PROPERTY ASSET DEVELOPMENTS LTD Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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PROPERTY ASSET DEVELOPMENTS LTD Company Information for the year ended 28 February 2025
Directors
PAUL LOGAN BRIAN MCCAFFREY
Company Number
SC622845 (Scotland)
Registered Office
2 VICTORIA PLACE RUTHERGLEN GLASGOW G73 2JP UNITED KINGDOM
Accountants
brand jamieson co 2 Victoria Place Rutherglen Glasgow G73 2JP
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PROPERTY ASSET DEVELOPMENTS LTD Statement of financial position as at 28 February 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
4,565
6,087
Current assets
Cash at bank and in hand
13,491
37,224
Creditors: amounts falling due within one year
5
(30,519)
(43,347)
Net current liabilities
(17,028)
(6,123)
Total assets less current liabilities
(12,463)
(36)
Creditors: amounts falling due after more than one year
6
(5,834)
(15,000)
Net liabilities
(18,297)
(15,036)
Capital and reserves
Called up share capital
100
100
Profit and loss account
(18,397)
(15,136)
Shareholders' funds
(18,297)
(15,036)
For the year ending 28 February 2025 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 31 October 2025 and were signed on its behalf by
PAUL LOGAN Director Company Registration No. SC622845
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PROPERTY ASSET DEVELOPMENTS LTD Notes to the Accounts for the year ended 28 February 2025
1
Statutory information
PROPERTY ASSET DEVELOPMENTS LTD is a private company, limited by shares, registered in Scotland, registration number SC622845. The registered office is 2 VICTORIA PLACE, RUTHERGLEN, GLASGOW, G73 2JP, UNITED KINGDOM.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
4
Tangible fixed assets
Motor vehicles
£
Cost or valuation
At cost
At 1 March 2024
19,238
At 28 February 2025
19,238
Depreciation
At 1 March 2024
13,151
Charge for the year
1,522
At 28 February 2025
14,673
Net book value
At 28 February 2025
4,565
At 29 February 2024
6,087
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
10,000
10,000
Loans from directors
19,671
32,800
Accruals
848
547
30,519
43,347
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PROPERTY ASSET DEVELOPMENTS LTD Notes to the Accounts for the year ended 28 February 2025
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
5,834
15,000
7
Controlling party
Control is shared equally by the directors.
8
Average number of employees
During the year the average number of employees was 2 (2024: 2).
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