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REGISTERED NUMBER: SC471073 (Scotland)















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: P M Cannell
Mrs S E Cannell





REGISTERED OFFICE: Cowan & Partners Ltd
60 Constitution Street
Leith
Edinburgh
MIDLOTHIAN
EH6 6RR





REGISTERED NUMBER: SC471073 (Scotland)





ACCOUNTANTS: Cowan & Partners Limited
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 2,315,604 1,421,192
2,315,604 1,421,192

CURRENT ASSETS
Debtors 6 4,024 -
Cash at bank 10,604 106,812
14,628 106,812
CREDITORS
Amounts falling due within one year 7 119,026 182,512
NET CURRENT LIABILITIES (104,398 ) (75,700 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,211,206

1,345,492

CREDITORS
Amounts falling due after more than one
year

8

(831,656

)

(1,043,656

)

PROVISIONS FOR LIABILITIES (169,108 ) -
NET ASSETS 1,210,442 301,836

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 10 676,432 -
Retained earnings 533,010 300,836
SHAREHOLDERS' FUNDS 1,210,442 301,836

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 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 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 Board of Directors and authorised for issue on 24 July 2025 and were signed on its behalf by:





P M Cannell - Director


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 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.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 2% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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 160,000
AMORTISATION
At 1 April 2024
and 31 March 2025 160,000
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 1,623,568 53,145 151,090 1,454 1,829,257
Additions - 2,940 1,469 - 4,409
Revaluations 676,432 - - - 676,432
At 31 March 2025 2,300,000 56,085 152,559 1,454 2,510,098
DEPRECIATION
At 1 April 2024 227,300 36,800 142,511 1,454 408,065
Charge for year - 11,217 2,512 - 13,729
Revaluation adjustments (227,300 ) - - - (227,300 )
At 31 March 2025 - 48,017 145,023 1,454 194,494
NET BOOK VALUE
At 31 March 2025 2,300,000 8,068 7,536 - 2,315,604
At 31 March 2024 1,396,268 16,345 8,579 - 1,421,192

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 4,024 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade creditors 56,312 116,848
Tax 61,314 63,791
VAT - 535
Accruals and deferred income 1,400 1,338
119,026 182,512

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 -
831,656 1,043,656

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 676,432