FIFE HOUSING GROUP YOURPLACE LIMITED

FIFE HOUSING GROUP YOURPLACE LIMITED

FIFE HOUSING GROUP YOURPLACE LIMITED - Company Information

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FIFE HOUSING GROUP YOURPLACE LIMITED

Company Registration Number:
SC375254 (Scotland)

Unaudited statutory accounts for the year ended 31 March 2022

Period of accounts

Start date: 1 April 2021

End date: 31 March 2022

FIFE HOUSING GROUP YOURPLACE LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2022

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

FIFE HOUSING GROUP YOURPLACE LIMITED

Directors' report period ended 31 March 2022

The directors present their report with the financial statements of the company for the period ended 31 March 2022

Principal activities of the company

To enable income generation: diversification, property investment and development; andTo identify business opportunities that will add value to the organisation and its stakeholders.The principal activities during the year were:1. PACT Enterprises Limited purchased one additional property during the year, and no properties were sold. The total number of properties let for market rent was 53 at the year end.



Directors

The directors shown below have held office during the whole of the period from
1 April 2021 to 31 March 2022

Katherine Dewar
 Nicola Jane Donaldson
 Kenneth Young

The director shown below has held office during the period of
1 April 2021 to 29 November 2021

Catherine Sandra Ann Stock

The director shown below has held office during the period of
1 April 2021 to 3 September 2021

Susan Bramley

The director shown below has held office during the period of
24 May 2021 to 31 March 2022

Ricky McAulay

Secretary Derek Banks

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
1 August 2022

And signed on behalf of the board by:
Name: Katherine Dewar
Status: Director

FIFE HOUSING GROUP YOURPLACE LIMITED

Profit And Loss Account

for the Period Ended 31 March 2022

2022 2021


£
£
Turnover: 329,051 308,743
Cost of sales: ( 62,254 ) ( 99,328 )
Gross profit(or loss): 266,797 209,415
Distribution costs: 0 0
Administrative expenses: ( 87,596 ) ( 90,917 )
Other operating income: 0 0
Operating profit(or loss): 179,201 118,498
Interest receivable and similar income: 194,000 89,000
Interest payable and similar charges: ( 87,621 ) ( 80,496 )
Profit(or loss) before tax: 285,580 127,002
Tax: ( 65,628 ) ( 70,901 )
Profit(or loss) for the financial year: 219,952 56,101

FIFE HOUSING GROUP YOURPLACE LIMITED

Balance sheet

As at 31 March 2022

Notes 2022 2021


£
£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments: 3 5,565,000 5,255,000
Total fixed assets: 5,565,000 5,255,000
Current assets
Stocks:   0 0
Debtors: 4 5,530 8,890
Cash at bank and in hand: 297,023 214,310
Investments:   0 0
Total current assets: 302,553 223,200
Creditors: amounts falling due within one year: 5 ( 60,570 ) ( 60,018 )
Net current assets (liabilities): 241,983 163,182
Total assets less current liabilities: 5,806,983 5,418,182
Creditors: amounts falling due after more than one year: 6 ( 4,278,640 ) ( 4,156,935 )
Provision for liabilities: ( 193,846 ) ( 146,702 )
Accruals and deferred income: 0 0
Total net assets (liabilities): 1,334,497 1,114,545
Capital and reserves
Called up share capital: 1 1
Share premium account: 0 0
Other reserves: 0 0
Profit and loss account: 1,334,496 1,114,544
Total Shareholders' funds: 1,334,497 1,114,545

The notes form part of these financial statements

FIFE HOUSING GROUP YOURPLACE LIMITED

Balance sheet statements

For the year ending 31 March 2022 the company was entitled to exemption 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.

This report was approved by the board of directors on 1 August 2022
and signed on behalf of the board by:

Name: Katherine Dewar
Status: Director

The notes form part of these financial statements

FIFE HOUSING GROUP YOURPLACE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents rental income from leasing residential property at market and mid-market rent.

    Tangible fixed assets depreciation policy

    The tangible fixed assets are measured at cost less impairment and are depreciated on a straight line basis at 20% per annum.

    Valuation information and policy

    This relates to the valuation of properties held for investment.

    Other accounting policies

    LEGAL STATUS, BASIS OF ACCOUNTING, GOING CONCERN, TURNOVER AND REVENUE RECOGNITION, INVESTMENT PROPERTIES, NEW SUPPLY SHARED EQUITY (NSSE) WITH DEVELOPERS SCHEME, DEFERRED TAX, FINANCIAL INSTRUMENTS

FIFE HOUSING GROUP YOURPLACE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2022

  • 2. Employees

    2022 2021
    Average number of employees during the period 0 0

FIFE HOUSING GROUP YOURPLACE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2022

3. Fixed assets investments note

Investment properties, including properties held under an operating lease, consist of commercial properties and properties not held for social benefit. These properties are initially measured at cost and subsequently measured at fair value whilst a reliable measure of fair value is available without undue cost or effort. Changes in fair value are recognised in the Statement of Income and Retained Earnings.The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The Directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view.If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the surplus for the financial year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified.

FIFE HOUSING GROUP YOURPLACE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2022

4. Debtors

2022 2021
£ £
Trade debtors 0 0
Prepayments and accrued income 0 0
Other debtors 5,530 8,890
Total 5,530 8,890
Debtors due after more than one year: 0 0

FIFE HOUSING GROUP YOURPLACE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2022

5. Creditors: amounts falling due within one year note

2022 2021
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 5,209 15,609
Taxation and social security 18,484 10,442
Accruals and deferred income 17,051 10,287
Other creditors 19,826 23,680
Total 60,570 60,018

FIFE HOUSING GROUP YOURPLACE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2022

6. Creditors: amounts falling due after more than one year note

2022 2021
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Other creditors 4,278,640 4,156,935
Total 4,278,640 4,156,935

FIFE HOUSING GROUP YOURPLACE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2022

7. Financial Commitments

At 31 March 2022 there were no Capital Commitments (2021: £Nil).