| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| My Edinburgh Life Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| My Edinburgh Life Limited |
| My Edinburgh Life Limited (Registered number: SC471073) |
| 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 |
| My Edinburgh Life Limited |
| Company Information |
| for the Year Ended 31 March 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 60 Constitution Street |
| Edinburgh |
| EH6 6RR |
| My Edinburgh Life Limited (Registered number: SC471073) |
| Balance Sheet |
| 31 March 2025 |
| 31.3.25 | 31.3.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| My Edinburgh Life Limited (Registered number: SC471073) |
| Balance Sheet - continued |
| 31 March 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| My Edinburgh Life Limited (Registered number: SC471073) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| My Edinburgh Life Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts have been prepared on a going concern basis. However, the company cannot continue to trade without the ongoing support of the directors. This has been assured through the provision of a loan from the directors. |
| Turnover |
| Turnover represents net invoiced sales of services, excluding value added tax. The company's policy is to recognise a sale when the company obtains the right to consideration. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Freehold property | - |
| Improvements to property | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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. |
| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| My Edinburgh Life Limited (Registered number: SC471073) |
| 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 NIL (2024 - NIL). |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 April 2024 |
| and 31 March 2025 |
| AMORTISATION |
| At 1 April 2024 |
| and 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| Freehold | to | and | Computer |
| property | property | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2024 |
| Additions |
| Revaluations |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Revaluation adjustments | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| My Edinburgh Life Limited (Registered number: SC471073) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| The property was subject to an independent, professional valuation at 4 February 2025. The valuation was undertaken by DM Hall Chartered Surveyors that have recent experience in the location and class of property being revalued. |
| At the balance sheet date, the directors feel this valuation remains appropriate with no material changes in the market value which require to be disclosed in the accounts. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.25 | 31.3.24 |
| £ | £ |
| VAT |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Trade creditors |
| Tax |
| VAT | - | 535 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Middlerig Properties loan | - | 1,043,656 |
| Directors' loan accounts | 831,656 | - |
| The directors have confirmed that the loan is not payable on demand or within the next 13 months and that no interest is currently being charged on the loan. |
| 9. | SECURED DEBTS |
| The Royal Bank of Scotland PLC holds fixed charges over the properties at 13 and 14 Rosebery Crescent. In addition it holds a floating charge over the assets of the company. However, these have been satisfied and therefore the directors have asked the bank to notify Companies House of this. |
| The directors, Peter and Sheila Cannell, hold fixed charges over the properties at 13 and 14 Rosebery Crescent. |
| 10. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| Transfer between reserves | 676,432 |
| At 31 March 2025 |