In November 2024, subsequent to the balance sheet date, the company completed the disposal of its freehold property located at Carronhall Drive, Lesmahagow, for a total consideration of £364,000. The net proceeds from the disposal were used to fully redeem the outstanding mortgages associated with this property.
The disposal is considered a non-adjusting post-balance sheet event under FRS 102, as the transaction occurred after the reporting date and does not provide evidence of conditions that existed at that date. The financial statements have therefore not been adjusted for this event.
The disposal is expected to result in a gain of £84,000 before costs, which will be recognised in the subsequent financial period.