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REGISTERED NUMBER: SC161580 (Scotland)




















Ebel (Edinburgh) Properties Limited

Unaudited Financial Statements

for the Year Ended 30 November 2024






Ebel (Edinburgh) Properties Limited (Registered number: SC161580)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ebel (Edinburgh) Properties Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: Mr Y W Tsang
Mrs F K Tsang



SECRETARY: Mr Y W Tsang



REGISTERED OFFICE: 8 Foulis Crescent
Juniper Green
Edinburgh
EH14 5BN



REGISTERED NUMBER: SC161580 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: The Royal Bank of Scotland
Edinburgh West End Office
142 - 144 Princes Street
Edinburgh
EH2 4EQ

Ebel (Edinburgh) Properties Limited (Registered number: SC161580)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 186
Investment property 5 2,170,000 2,078,000
2,170,000 2,078,186

CURRENT ASSETS
Debtors 6 2,271 2,621
Cash at bank 102,123 73,406
104,394 76,027
CREDITORS
Amounts falling due within one year 7 174,364 148,506
NET CURRENT LIABILITIES (69,970 ) (72,479 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,100,030 2,005,707

PROVISIONS FOR LIABILITIES 311,531 290,078
NET ASSETS 1,788,499 1,715,629

Ebel (Edinburgh) Properties Limited (Registered number: SC161580)

Balance Sheet - continued
30 November 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 4 4
Fair value reserve 8 1,321,712 1,251,212
Retained earnings 466,783 464,413
SHAREHOLDERS' FUNDS 1,788,499 1,715,629

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 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 2025 and were signed on its behalf by:





Mr Y W Tsang - Director


Ebel (Edinburgh) Properties Limited (Registered number: SC161580)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Ebel (Edinburgh) Properties 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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover and revenue recognition
Turnover shown in the profit and loss account represents rent receivable during the period, recognised based on rent due in accordance with rent agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 10% on cost

Ebel (Edinburgh) Properties Limited (Registered number: SC161580)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment properties are shown at their fair value. Any surplus or deficit arising from changes in fair value is recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent.

This is in accordance with FRS 102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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.

Ebel (Edinburgh) Properties Limited (Registered number: SC161580)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Provision for liabilities
Provisions are recognised where the company has a present obligation as a result of a past event, it is probably the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2023 43,501
Disposals (2,919 )
At 30 November 2024 40,582
DEPRECIATION
At 1 December 2023 43,315
Charge for year 186
Eliminated on disposal (2,919 )
At 30 November 2024 40,582
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 186

Ebel (Edinburgh) Properties Limited (Registered number: SC161580)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 2,078,000
Revaluations 92,000
At 30 November 2024 2,170,000
NET BOOK VALUE
At 30 November 2024 2,170,000
At 30 November 2023 2,078,000

Fair value at 30 November 2024 is represented by:
£   
Valuation in 2003 672,131
Valuation in 2007 580,000
Valuation in 2009 (140,000 )
Valuation in 2017 318,112
Valuation in 2018 29,000
Valuation in 2019 (116,000 )
Valuation in 2020 160,000
Valuation in 2021 46,000
Valuation in 2023 (8,000 )
Valuation in 2024 92,000
Cost 536,757
2,170,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 536,757 536,757

The investment property was valued on an open market basis on 30 November 2024 by the director .

Ebel (Edinburgh) Properties Limited (Registered number: SC161580)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,271 2,621

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 13,830 14,101
Other creditors 160,534 134,405
174,364 148,506

The directors' current accounts are unsecured, interest free and have no fixed terms of repayment.

8. RESERVES
Fair
value
reserve
£   
At 1 December 2023 1,251,212
Transfer in year 70,500

At 30 November 2024 1,321,712

The fair value reserve represents the net revaluation surplus on investment properties that is not readily distributable as realised earnings.