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REGISTERED NUMBER: SC183183 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 September 2024

for

FRED BERMAN PROPERTIES LIMITED

FRED BERMAN PROPERTIES LIMITED (REGISTERED NUMBER: SC183183)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FRED BERMAN PROPERTIES LIMITED

Company Information
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: B C Meldrum
G M Berman



REGISTERED OFFICE: 23 Sundale Avenue
Clarkston
Glasgow
G76 7SX



REGISTERED NUMBER: SC183183 (Scotland)



ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ



BANKERS: The Royal Bank of Scotland plc
10 Gordon Street
Glasgow
G1 3PL

FRED BERMAN PROPERTIES LIMITED (REGISTERED NUMBER: SC183183)

Statement of Financial Position
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 487 592
Investment property 5 16,575,349 15,894,000
16,575,836 15,894,592

CURRENT ASSETS
Debtors 6 6,014,786 5,807,373
Cash at bank 311,710 282,113
6,326,496 6,089,486
CREDITORS
Amounts falling due within one year 7 7,294,731 2,487,170
NET CURRENT (LIABILITIES)/ASSETS (968,235 ) 3,602,316
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,607,601

19,496,908

CREDITORS
Amounts falling due after more than one
year

8

-

4,173,094
NET ASSETS 15,607,601 15,323,814

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 5 5
Retained earnings 15,607,496 15,323,709
SHAREHOLDERS' FUNDS 15,607,601 15,323,814

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

FRED BERMAN PROPERTIES LIMITED (REGISTERED NUMBER: SC183183)

Statement of Financial Position - continued
30 SEPTEMBER 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by:





G M Berman - Director


FRED BERMAN PROPERTIES LIMITED (REGISTERED NUMBER: SC183183)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Fred Berman 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover represents the amounts derived from rent receivable excluding value added tax. Turnover is recognised on the accruals basis.

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 - 20% on a reducing balance basis
Fixtures and fittings - 15% on a reducing balance basis
Computer equipment - 33% on a straight line basis

Investment properties
Investment property,which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

FRED BERMAN PROPERTIES LIMITED (REGISTERED NUMBER: SC183183)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 October 2023
and 30 September 2024 21,623 1,342 441 23,406
DEPRECIATION
At 1 October 2023 21,294 1,079 441 22,814
Charge for year 66 39 - 105
At 30 September 2024 21,360 1,118 441 22,919
NET BOOK VALUE
At 30 September 2024 263 224 - 487
At 30 September 2023 329 263 - 592

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 15,894,000
Additions 681,349
At 30 September 2024 16,575,349
NET BOOK VALUE
At 30 September 2024 16,575,349
At 30 September 2023 15,894,000

Investment property comprises of commercial properties let to 3rd parties. The fair value of the commercial properties has been arrived at by the Director on an open market value basis by reference to market evidence of transaction prices for similar properties.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 83,558 34,539
Other debtors 5,931,228 5,772,834
6,014,786 5,807,373

FRED BERMAN PROPERTIES LIMITED (REGISTERED NUMBER: SC183183)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,718,321 165,143
Trade creditors 57,303 278
Taxation and social security 131,887 168,021
Other creditors 3,387,220 2,153,728
7,294,731 2,487,170

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 4,173,094

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 3,718,321 4,338,237

The bank loans and overdraft facilities are secured by standard securities over the company's freehold investment properties and by a bond and floating charge over the assets of the company.

10. RELATED PARTY DISCLOSURES

At 30 September 2024, the company was owed £5,882,481 (2023: £5,733,481) by a company under common directorship.

11. POST BALANCE SHEET EVENTS

After the year-end, the company refinanced its existing loans, extending the repayment terms. As this occurred after the reporting date and does not relate to conditions at that time, no adjustment has been made to the financial statements.