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PPML ASSETS LIMITED

Registered Number
SC452384
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2024

PPML ASSETS LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

BELL, Gary Johnstone
BELL, Melanie Louise

Company Secretary

BELL, Melanie

Registered Address

Haas Side Farm
Haas Loaning
Lockerbie
DG11 2RQ

Registered Number

SC452384 (Scotland)
PPML ASSETS LIMITED
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3123,194238,488
Investment property42,450,0632,450,063
2,573,2572,688,551
Current assets
Stocks52,954,7081,108,775
Debtors62,277,3221,564,029
Cash at bank and on hand1,736,2262,993,508
6,968,2565,666,312
Creditors amounts falling due within one year7(1,384,331)(834,995)
Net current assets (liabilities)5,583,9254,831,317
Total assets less current liabilities8,157,1827,519,868
Creditors amounts falling due after one year8(709,637)(798,456)
Provisions for liabilities9(23,500)(59,200)
Net assets7,424,0456,662,212
Capital and reserves
Called up share capital100100
Profit and loss account7,423,9456,662,112
Shareholders' funds7,424,0456,662,212
The financial statements were approved and authorised for issue by the Board of Directors on 7 July 2025, and are signed on its behalf by:
BELL, Gary Johnstone
Director
Registered Company No. SC452384
PPML ASSETS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 January 24221,800263,617860486,277
Additions99538,5006,36445,859
Disposals-(165,617)-(165,617)
At 31 December 24222,795136,5007,224366,519
Depreciation and impairment
At 01 January 24177,38370,030376247,789
Charge for year11,35328,0001,71141,064
On disposals-(45,528)-(45,528)
At 31 December 24188,73652,5022,087243,325
Net book value
At 31 December 2434,05983,9985,137123,194
At 31 December 2344,417193,587484238,488
4.Investment property
Investment property additions in the year are stated at cost.

£
Fair value at 01 January 242,450,063
At 31 December 242,450,063
5.Stocks

2024

2023

££
Finished goods2,954,7081,108,775
Total2,954,7081,108,775
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables7,772142,440
Amounts owed by group undertakings1,211,9671,211,967
Other debtors1,055,380207,046
Prepayments and accrued income2,2032,576
Total2,277,3221,564,029
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables475,590298,267
Bank borrowings and overdrafts88,69983,656
Taxation and social security84,976233,814
Other creditors360,77555,335
Accrued liabilities and deferred income374,291163,923
Total1,384,331834,995
The bank loan is secured against the assets of the company and the assets of the parent company.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts709,637798,456
Total709,637798,456
The bank loan is secured against the assets of the company and the assets of the parent company.
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)23,50059,200
Total23,50059,200
10.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
BELL, Gary Johnstone201,351537,429204,125534,655
201,351537,429204,125534,655
During the period the company made advances to the above. The balance is included in other debtors. The loan is unsecured and repayable on demand. Interest has been charged on the loan at the HMRC official rate where applicable.