Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Mr S Geddes-Moody 17/12/2019 Mr J J O'Hara 17/12/2019 11 July 2025 The principal activity of the Company during the financial year continued to be that of rental of investment properties. SC649786 2024-12-31 SC649786 bus:Director1 2024-12-31 SC649786 bus:Director2 2024-12-31 SC649786 2023-12-31 SC649786 core:CurrentFinancialInstruments 2024-12-31 SC649786 core:CurrentFinancialInstruments 2023-12-31 SC649786 core:Non-currentFinancialInstruments 2024-12-31 SC649786 core:Non-currentFinancialInstruments 2023-12-31 SC649786 core:ShareCapital 2024-12-31 SC649786 core:ShareCapital 2023-12-31 SC649786 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC649786 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC649786 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-12-31 SC649786 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-12-31 SC649786 core:MoreThanFiveYears 2024-12-31 SC649786 core:MoreThanFiveYears 2023-12-31 SC649786 bus:OrdinaryShareClass1 2024-12-31 SC649786 2024-01-01 2024-12-31 SC649786 bus:FilletedAccounts 2024-01-01 2024-12-31 SC649786 bus:SmallEntities 2024-01-01 2024-12-31 SC649786 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 SC649786 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC649786 bus:Director1 2024-01-01 2024-12-31 SC649786 bus:Director2 2024-01-01 2024-12-31 SC649786 2023-01-01 2023-12-31 SC649786 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 SC649786 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 SC649786 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 SC649786 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC649786 (Scotland)

GOAM PROPERTY LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

GOAM PROPERTY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

GOAM PROPERTY LTD

BALANCE SHEET

AS AT 31 DECEMBER 2024
GOAM PROPERTY LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 1,834,133 1,834,133
1,834,133 1,834,133
Current assets
Debtors 4 9,838 7,252
Cash at bank and in hand 19,239 17,087
29,077 24,339
Creditors: amounts falling due within one year 5 ( 201,630) ( 200,380)
Net current liabilities (172,553) (176,041)
Total assets less current liabilities 1,661,580 1,658,092
Creditors: amounts falling due after more than one year 6 ( 841,320) ( 914,106)
Provision for liabilities 7 ( 32,114) ( 22,528)
Net assets 788,146 721,458
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 788,046 721,358
Total shareholder's funds 788,146 721,458

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of GOAM Property Ltd (registered number: SC649786) were approved and authorised for issue by the Board of Directors on 11 July 2025. They were signed on its behalf by:

Mr S Geddes-Moody
Director
GOAM PROPERTY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
GOAM PROPERTY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

GOAM Property Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Pavilion 3 12 Marchburn Drive, Paisley, PA3 2SJ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable in relation to rental income in the normal course of business, and is shown net of VAT and other sales related taxes.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 January 2024 1,834,133
As at 31 December 2024 1,834,133

Investment property comprises two commercial properties. The fair value of the investment property has been arrived at on the basis of valuation carried out by the directors.

4. Debtors

2024 2023
£ £
Trade debtors 3,556 0
Other debtors 6,282 7,252
9,838 7,252

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 119,257 119,753
Trade creditors 17 0
Amounts owed to related parties 40,000 40,000
Corporation tax 11,077 8,741
Other taxation and social security 8,354 8,555
Other creditors 22,925 23,331
201,630 200,380

The bank loans are secured by a fixed and floating charge over all of the properties and undertakings held in the company.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 841,320 914,106

The bank loans are secured by a fixed and floating charge over all of the properties and undertakings held in the company.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (repayable by instalments) 364,290 435,094

7. Provision for liabilities

2024 2023
£ £
Deferred tax 32,114 22,528

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts owed to related parties 40,000 40,000

10. Ultimate controlling party

Parent Company:

GOAM Holdings Ltd
Pavilion 3, 12 Marchburn Drive, Paisley, United Kingdom