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REGISTERED NUMBER: SC710146 (Scotland)





















Unaudited Financial Statements

For The Year Ended 30 September 2024

for

Express Homebuyers Ltd

Express Homebuyers Ltd (Registered number: SC710146)






Contents of the Financial Statements
For The Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Express Homebuyers Ltd

Company Information
For The Year Ended 30 September 2024







DIRECTOR: Mrs G M Clayton





REGISTERED OFFICE: 1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH





REGISTERED NUMBER: SC710146 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

Express Homebuyers Ltd (Registered number: SC710146)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 106,317 95,003
Investment property 5 105,000 94,634
211,317 189,637

CURRENT ASSETS
Debtors 6 776 -
Cash at bank 12,345 20,529
13,121 20,529
CREDITORS
Amounts falling due within one year 7 189,661 255,192
NET CURRENT LIABILITIES (176,540 ) (234,663 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,777

(45,026

)

CREDITORS
Amounts falling due after more than one
year

8

76,500

-
NET LIABILITIES (41,723 ) (45,026 )

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 10 3,117 -
Fair value reserve 10 10,366 -
Retained earnings (55,208 ) (45,028 )
SHAREHOLDERS' FUNDS (41,723 ) (45,026 )

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 director acknowledges her 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.

Express Homebuyers Ltd (Registered number: SC710146)

Balance Sheet - 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 June 2025 and were signed by:





Mrs G M Clayton - Director


Express Homebuyers Ltd (Registered number: SC710146)

Notes to the Financial Statements
For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

Express Homebuyers Ltd 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.

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.


Express Homebuyers Ltd (Registered number: SC710146)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
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.

Going concern
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 October 2023 96,645 - 454 97,099
Additions 6,535 4,453 - 10,988
Revaluations 3,180 - - 3,180
At 30 September 2024 106,360 4,453 454 111,267
DEPRECIATION
At 1 October 2023 1,933 - 163 2,096
Charge for year 2,127 668 59 2,854
At 30 September 2024 4,060 668 222 4,950
NET BOOK VALUE
At 30 September 2024 102,300 3,785 232 106,317
At 30 September 2023 94,712 - 291 95,003

Cost or valuation at 30 September 2024 is represented by:

Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
Valuation in 2024 3,180 4,453 454 8,087
Cost 103,180 - - 103,180
106,360 4,453 454 111,267

Express Homebuyers Ltd (Registered number: SC710146)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS - continued

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

30.9.24 30.9.23
£    £   
Cost 103,180 -

Freehold property was valued on an open market basis on 30 September 2024 by the director of the business .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 94,634
Revaluations 10,366
At 30 September 2024 105,000
NET BOOK VALUE
At 30 September 2024 105,000
At 30 September 2023 94,634

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2024 10,366
Cost 94,634
105,000

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

30.9.24 30.9.23
£    £   
Cost 94,634 -

Investment property was valued on an open market basis on 30 September 2024 by The director of the business .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 776 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other creditors 189,661 255,192

Express Homebuyers Ltd (Registered number: SC710146)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 76,500 -

9. SECURED DEBTS

Ascot Bridging Finance 2 Ltd hold the following securities:
1.All and whole the property known as and forming 154 Renfrew Road.
2.All and whole the subjects known as and forming the southmost dwellinghouse situated on the second floor above the ground floor of the tenement 7 caddlehill street, greenock, PA16 8TU (otherwise 7H Caddlehill Street, Greenock, PA16 8TU.

10. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
Transfer to fair value reserve 3,181 10,366 13,547
Depreciation on revaluation (64 ) - (64 )

At 30 September 2024 3,117 10,366 13,483

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Express Homebuyers Ltd

The following reproduces the text of the report prepared for the director 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 Director 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 Express Homebuyers Ltd for the year ended 30 September 2024 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 https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the director of Express Homebuyers Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Express Homebuyers Ltd and state those matters that we have agreed to state to the director of Express Homebuyers Ltd in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Express Homebuyers Ltd 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 profit of Express Homebuyers Ltd. You consider that Express Homebuyers Ltd 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 Express Homebuyers Ltd. 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.






Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH


27 June 2025