Edinburgh & Northern Limited - Accounts to registrar (filleted) - small 18.2

Edinburgh & Northern Limited - Accounts to registrar (filleted) - small 18.2

EDINBURGH & NORTHERN LIMITED - Company Information

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REGISTERED NUMBER: SC074474 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2022

for

Edinburgh & Northern Limited
Edinburgh & Northern Limited (Registered number: SC074474)






Contents of the Financial Statements
for the Year Ended 31 August 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Edinburgh & Northern Limited

Company Information
for the Year Ended 31 August 2022







DIRECTORS: J Loudon
J B A Loudon
F J N Loudon





SECRETARY: J Loudon





REGISTERED OFFICE: 6C Essex Road
Edinburgh
EH4 6LG





REGISTERED NUMBER: SC074474 (Scotland)





Page 1
Edinburgh & Northern Limited (Registered number: SC074474)

Balance Sheet
31 August 2022

31.8.22 31.8.21
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,899 2,374
Investments 5 70,000 70,000
Investment property 6 160,000 90,000
231,899 162,374

CURRENT ASSETS
Debtors 7 4,483 4,393
Investments 8 48,986 60,000
Cash at bank 5,760 3,823
59,229 68,216
CREDITORS
Amounts falling due within one year 9 (3,346 ) (2,935 )
NET CURRENT ASSETS 55,883 65,281
TOTAL ASSETS LESS CURRENT
LIABILITIES
287,782
227,655

PROVISIONS FOR LIABILITIES (13,300 ) -
NET ASSETS 274,482 227,655

CAPITAL AND RESERVES
Called up share capital 22,000 22,000
Revaluation reserve 10 132,151 62,151
Retained earnings 120,331 143,504
SHAREHOLDERS' FUNDS 274,482 227,655

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 notes form part of these financial statements

Page 2 continued...
Edinburgh & Northern Limited (Registered number: SC074474)

Balance Sheet - continued
31 August 2022


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 11 October 2022 and were signed on its behalf by:





J Loudon - Director


The notes form part of these financial statements

Page 3
Edinburgh & Northern Limited (Registered number: SC074474)

Notes to the Financial Statements
for the Year Ended 31 August 2022

1. STATUTORY INFORMATION

Edinburgh & Northern 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
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of rental income due for the accounting period, exclusive of value added tax.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment 33% straight line

Investment property
Investment properties are valued at their fair value at the balance sheet date. Any surplus or deficit on revaluation is charged to the income statement along with the related deferred tax which is provided at the rate expected to apply when the property is sold.

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 (2021 - 1 ) .

Page 4 continued...
Edinburgh & Northern Limited (Registered number: SC074474)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2021
and 31 August 2022 4,320
DEPRECIATION
At 1 September 2021 1,946
Charge for year 475
At 31 August 2022 2,421
NET BOOK VALUE
At 31 August 2022 1,899
At 31 August 2021 2,374

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2021
and 31 August 2022 70,000
NET BOOK VALUE
At 31 August 2022 70,000
At 31 August 2021 70,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2021 90,000
Revaluations 70,000
At 31 August 2022 160,000
NET BOOK VALUE
At 31 August 2022 160,000
At 31 August 2021 90,000

The investment property was valued at open market value on 26 August 2022 by Gunn Property Consultants. The historic cost of the property is £22,925 (2021 - £22,925).

Page 5 continued...
Edinburgh & Northern Limited (Registered number: SC074474)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2022

6. INVESTMENT PROPERTY - continued

Fair value at 31 August 2022 is represented by:
£   
Valuation in 2011 35,445
Valuation in 2015 6,630
Valuation in 2018 25,000
Valuation in 2022 70,000
Cost 22,925
160,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.22 31.8.21
£    £   
Other debtors 4,483 4,393

8. CURRENT ASSET INVESTMENTS
31.8.22 31.8.21
£    £   
Unlisted investments 48,986 60,000

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.22 31.8.21
£    £   
Trade creditors - 1
Taxation and social security 873 873
Other creditors 2,473 2,061
3,346 2,935

10. RESERVES
Revaluation
reserve
£   
At 1 September 2021 62,151
Movement in year 70,000

At 31 August 2022 132,151

Page 6