IRIS Accounts Production v25.2.0.378 SC554812 Board of Directors 1.6.24 31.5.25 31.5.25 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5548122024-05-31SC5548122025-05-31SC5548122024-06-012025-05-31SC5548122023-05-31SC5548122023-06-012024-05-31SC5548122024-05-31SC554812ns15:Scotland2024-06-012025-05-31SC554812ns14:PoundSterling2024-06-012025-05-31SC554812ns10:Director12024-06-012025-05-31SC554812ns10:PrivateLimitedCompanyLtd2024-06-012025-05-31SC554812ns10:SmallEntities2024-06-012025-05-31SC554812ns10:AuditExempt-NoAccountantsReport2024-06-012025-05-31SC554812ns10:SmallCompaniesRegimeForDirectorsReport2024-06-012025-05-31SC554812ns10:SmallCompaniesRegimeForAccounts2024-06-012025-05-31SC554812ns10:AbridgedAccounts2024-06-012025-05-31SC554812ns10:Director22024-06-012025-05-31SC554812ns10:Director32024-06-012025-05-31SC554812ns10:RegisteredOffice2024-06-012025-05-31SC554812ns5:CurrentFinancialInstruments2025-05-31SC554812ns5:CurrentFinancialInstruments2024-05-31SC554812ns5:Non-currentFinancialInstruments2025-05-31SC554812ns5:Non-currentFinancialInstruments2024-05-31SC554812ns5:ShareCapital2025-05-31SC554812ns5:ShareCapital2024-05-31SC554812ns5:RetainedEarningsAccumulatedLosses2025-05-31SC554812ns5:RetainedEarningsAccumulatedLosses2024-05-31SC554812ns5:Secured2025-05-31SC554812ns5:Secured2024-05-31SC554812ns5:DeferredTaxation2024-05-31SC554812ns5:DeferredTaxation2025-05-31
REGISTERED NUMBER: SC554812 (Scotland)















Abridged Unaudited Financial Statements for the Year Ended 31 May 2025

for

The Three Wise Monkeys Property
Investment Company Limited

The Three Wise Monkeys Property
Investment Company Limited (Registered number: SC554812)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


The Three Wise Monkeys Property
Investment Company Limited

Company Information
for the Year Ended 31 May 2025







DIRECTORS: S Barlas
M Dickson
R Mckay





REGISTERED OFFICE: 14 Rutland Square
Edinburgh
Midlothian
EH1 2BD





REGISTERED NUMBER: SC554812 (Scotland)





ACCOUNTANTS: Gibson McKerrell Burrows Limited
28 Rutland Square
Edinburgh
EH1 2BW

The Three Wise Monkeys Property
Investment Company Limited (Registered number: SC554812)

Abridged Statement of Financial Position
31 May 2025

31.5.25 31.5.24
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 257,915 257,915

CURRENT ASSETS
Debtors 550 550
Cash at bank 14,919 11,299
15,469 11,849
CREDITORS
Amounts falling due within one year 49,246 35,217
NET CURRENT LIABILITIES (33,777 ) (23,368 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

224,138

234,547

CREDITORS
Amounts falling due after more than one
year

5

(140,549

)

(157,019

)

PROVISIONS FOR LIABILITIES 7 (7,259 ) (7,259 )
NET ASSETS 76,330 70,269

CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings 76,300 70,239
76,330 70,269

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

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

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 31 July 2025 and were signed on its behalf by:



S Barlas - Director


The Three Wise Monkeys Property
Investment Company Limited (Registered number: SC554812)

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

1. STATUTORY INFORMATION

The Three Wise Monkeys Property Investment Company 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is attributable to the company's principal activity of
property rental.

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties are initially measured at cost, including transaction costs. Subsequently, investment properties whose fair value can be measured reliably without undue cost or effort, on an on-going basis, are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the Income Statement in the period in which they arise.

Investment properties whose fair value cannot be measured reliably without undue cost or effort, on an on-going basis, are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses

Investment property is being carried at fair value and the directors are of the opinion that cost repesents a fair value of the property.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and payables, loans from banks and other third parties.

At the end of each reporting period, financial assets that are measured at cost are assessed for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows arising from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party.

Financial liabilities are measured at amortised cost less any accumulated impairment losses. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

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 Statement of Financial Position date.


The Three Wise Monkeys Property
Investment Company Limited (Registered number: SC554812)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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 Statement of Financial Position 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. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2024
and 31 May 2025 257,915
NET BOOK VALUE
At 31 May 2025 257,915
At 31 May 2024 257,915

Fair value at 31 May 2025 is represented by:
£   
Valuation in 2019 38,205
Cost 219,710
257,915

If land and buildings had not been revalued they would have been included at the following historical cost:

31.5.25 31.5.24
£    £   
Cost 219,710 219,710

Land and buildings were valued on an open market basis on 16 October 2019 by J & E Shepherd .

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
31.5.25 31.5.24
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 129,446 145,916

6. SECURED DEBTS

The following secured debts are included within creditors:

31.5.25 31.5.24
£    £   
Bank loans 143,325 159,795

The bank holds a floating charge over all the property and undertakings of the company.

The Three Wise Monkeys Property
Investment Company Limited (Registered number: SC554812)

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

7. PROVISIONS FOR LIABILITIES
31.5.25 31.5.24
£    £   
Deferred tax 7,259 7,259

Deferred
tax
£   
Balance at 1 June 2024 7,259
Balance at 31 May 2025 7,259

8. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £40,923 to Caleylock Edinburgh Limited. The company received rent of £18,000 from Caleylock Edinburgh Limited.The directors of the company are also directors of Caleylock Edinburgh Limited.