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REGISTERED NUMBER: SC215942 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2025

for

Frank Deasy Limited

Frank Deasy Limited (Registered number: SC215942)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Frank Deasy Limited

Company Information
for the Year Ended 31 March 2025







DIRECTOR: Marie Deasy





SECRETARY: Marie Deasy





REGISTERED OFFICE: 18 Carment Drive
Glasgow
G41 3PP





REGISTERED NUMBER: SC215942 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Frank Deasy Limited (Registered number: SC215942)

Balance Sheet
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 355,000 355,000

CURRENT ASSETS
Debtors 5 277 -
Cash at bank 122,286 104,858
122,563 104,858
CREDITORS
Amounts falling due within one year 6 295,635 294,656
NET CURRENT LIABILITIES (173,072 ) (189,798 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

181,928

165,202

PROVISIONS FOR LIABILITIES 7 7,678 7,678
NET ASSETS 174,250 157,524

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 37,100 37,100
Retained earnings 9 137,050 120,324
SHAREHOLDERS' FUNDS 174,250 157,524

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

Frank Deasy Limited (Registered number: SC215942)

Balance Sheet - continued
31 March 2025


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 July 2025 and were signed by:





Marie Deasy - Director


Frank Deasy Limited (Registered number: SC215942)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Frank Deasy 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.

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
The cost of tangible fixed assets is their cost, together with any incidental costs of acquisition.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Heritable property - not provided
Computer equipment - 25% on reducing balance

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Frank Deasy Limited (Registered number: SC215942)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4. TANGIBLE FIXED ASSETS
Heritable Computer
property equipment Totals
£    £    £   
COST OR VALUATION
At 1 April 2024
and 31 March 2025 355,000 2,084 357,084
DEPRECIATION
At 1 April 2024
and 31 March 2025 - 2,084 2,084
NET BOOK VALUE
At 31 March 2025 355,000 - 355,000
At 31 March 2024 355,000 - 355,000

Cost or valuation at 31 March 2025 is represented by:

Heritable Computer
property equipment Totals
£    £    £   
Valuation in 2023 355,000 - 355,000
Cost - 2,084 2,084
355,000 2,084 357,084

Frank Deasy Limited (Registered number: SC215942)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

4. TANGIBLE FIXED ASSETS - continued

If investment properties had not been revalued they would have been included at the following historical cost:

2025 2024
£    £   
Cost 310,222 310,222

The market values of the investment properties have been arrived at on the basis of a valuation carried out on 31 March 2023 by the directors of the company who are not professionally qualified valuers. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in their location and takes into account the state of the rental market in the areas where the properties are situated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 277 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Taxation and social security 4,440 4,394
Other creditors 291,195 290,262
295,635 294,656

7. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 7,678 7,678

Deferred
tax
£   
Balance at 1 April 2024 7,678
Reversed on sale of property
Balance at 31 March 2025 7,678

Frank Deasy Limited (Registered number: SC215942)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2024 120,324 37,100 157,424
Profit for the year 18,726 18,726
Dividends (2,000 ) (2,000 )
At 31 March 2025 137,050 37,100 174,150

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Marie Deasy.