March Street Properties (1994) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC154908 (Scotland)

MARCH STREET PROPERTIES (1994) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

DIRECTORS:

N A Pollock

G S Anderson

A C Williams

SECRETARY:

G S Anderson

REGISTERED OFFICE:

c/o Hardie Caldwell LLP

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

REGISTERED NUMBER:

SC154908 (Scotland)

ACCOUNTANTS:

Hardie Caldwell LLP

Chartered Accountants

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

SOLICITORS:

Peterkins Robertson Paul

Kensington House

227 Sauchiehall Street

Glasgow

G2 3EX

FIXED ASSETS

Investment property

4

155,000

105,863

CURRENT ASSETS

Cash at bank

5,637

15,105

CREDITORS

Amounts falling due within one year

5

(52,811

)

(62,506

)

NET CURRENT LIABILITIES

(47,174

)

(47,401

)

TOTAL ASSETS LESS CURRENT LIABILITIES

107,826

58,462

PROVISIONS FOR LIABILITIES

(10,950

)

(5,011

)

NET ASSETS

96,876

53,451

CAPITAL AND RESERVES

Called up share capital

6

3

3

Investment property reserve

88,905

39,768

Capital redemption reserve

1

1

Retained earnings

7,967

13,679

SHAREHOLDERS' FUNDS

96,876

53,451

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 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 27 May 2022 and were signed on its behalf by:

N A Pollock - Director

1.	STATUTORY INFORMATION

March Street Properties (1994) Limited is a private company, limited by shares, registered in Scotland. The company's registered number is SC154908 and it's registered office is Citypoint 2, 25 Tyndrum Street, Glasgow, G4 0JY.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the valuation of certain assets.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Revenue recognition

Property Revenue Surplus represents gross income received through the rental of the company's investment properties less any property expenses.

Investment property

Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at bank with a short term of maturity, being 12 months or less, from the opening of the deposit or similar account.

Creditors

Other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - NIL ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2021

105,863

Revaluations

49,137

At 31 December 2021

155,000

NET BOOK VALUE

At 31 December 2021

155,000

At 31 December 2020

105,863

The investment properties were valued on an open market value for existing use basis by Allied Surveyors Scotland PLC as at 28 June 2021.

Fair value at 31 December 2021 is represented by:

£

Valuation in 2005

39,769

Valuation in 2021

49,137

Cost

66,094

155,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

111

1,498

Other creditors

52,700

61,008

52,811

62,506

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

3

Ordinary

£1

3

3

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of March Street Properties (1994) Limited for the year ended 31 December 2021 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of March Street Properties (1994) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of March Street Properties (1994) Limited and state those matters that we have agreed to state to the Board of Directors of March Street Properties (1994) Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that March Street Properties (1994) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of March Street Properties (1994) Limited. You consider that March Street Properties (1994) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of March Street Properties (1994) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hardie Caldwell LLP

Chartered Accountants

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

27 May 2022