Silverfin false false 30/11/2024 01/12/2023 30/11/2024 I J Fergusson 03/10/2011 L Weir 01/08/2023 28 August 2025 The principal activity of the Company continued to be that of a residential property letting agency. SC175211 2024-11-30 SC175211 bus:Director1 2024-11-30 SC175211 bus:Director2 2024-11-30 SC175211 2023-11-30 SC175211 core:CurrentFinancialInstruments 2024-11-30 SC175211 core:CurrentFinancialInstruments 2023-11-30 SC175211 core:ShareCapital 2024-11-30 SC175211 core:ShareCapital 2023-11-30 SC175211 core:RetainedEarningsAccumulatedLosses 2024-11-30 SC175211 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC175211 core:OtherResidualIntangibleAssets 2023-11-30 SC175211 core:OtherResidualIntangibleAssets 2024-11-30 SC175211 core:OtherPropertyPlantEquipment 2023-11-30 SC175211 core:OtherPropertyPlantEquipment 2024-11-30 SC175211 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-11-30 SC175211 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-11-30 SC175211 bus:OrdinaryShareClass1 2024-11-30 SC175211 bus:OrdinaryShareClass2 2024-11-30 SC175211 2023-12-01 2024-11-30 SC175211 bus:FilletedAccounts 2023-12-01 2024-11-30 SC175211 bus:SmallEntities 2023-12-01 2024-11-30 SC175211 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 SC175211 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 SC175211 bus:Director1 2023-12-01 2024-11-30 SC175211 bus:Director2 2023-12-01 2024-11-30 SC175211 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-12-01 2024-11-30 SC175211 core:OtherResidualIntangibleAssets 2023-12-01 2024-11-30 SC175211 core:OtherPropertyPlantEquipment 2023-12-01 2024-11-30 SC175211 2022-12-01 2023-11-30 SC175211 core:CurrentFinancialInstruments 2023-12-01 2024-11-30 SC175211 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 SC175211 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 SC175211 bus:OrdinaryShareClass2 2023-12-01 2024-11-30 SC175211 bus:OrdinaryShareClass2 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC175211 (Scotland)

DIRECT LETTINGS (SCOTLAND) LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

DIRECT LETTINGS (SCOTLAND) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024

Contents

DIRECT LETTINGS (SCOTLAND) LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2024
DIRECT LETTINGS (SCOTLAND) LIMITED

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 58,509 94,352
58,509 94,352
Current assets
Debtors 5 68,441 277,565
Cash at bank and in hand 61,598 334,885
130,039 612,450
Creditors: amounts falling due within one year 6 ( 126,044) ( 769,242)
Net current assets/(liabilities) 3,995 (156,792)
Total assets less current liabilities 62,504 (62,440)
Provision for liabilities ( 7,316) ( 15,810)
Net assets/(liabilities) 55,188 ( 78,250)
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 55,186 ( 78,252 )
Total shareholders' funds/(deficit) 55,188 ( 78,250)

For the financial year ending 30 November 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 Direct Lettings (Scotland) Limited (registered number: SC175211) were approved and authorised for issue by the Board of Directors on 28 August 2025. They were signed on its behalf by:

I J Fergusson
Director
DIRECT LETTINGS (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
DIRECT LETTINGS (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 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

Direct Lettings (Scotland) Limited (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 110 Commercial Street, Dundee, DD1 2AJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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 represents property management fees, which are recognised on an accruals basis, net of VAT.

Employee benefits

Short term benefits
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid 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.

Intangible assets

Intangible assets are stated at valuation, net of amortisation. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 3 years straight line
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and includes cash at bank and in hand.

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 measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and loans are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 13

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 December 2023 430,000 430,000
At 30 November 2024 430,000 430,000
Accumulated amortisation
At 01 December 2023 430,000 430,000
At 30 November 2024 430,000 430,000
Net book value
At 30 November 2024 0 0
At 30 November 2023 0 0

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 December 2023 138,607 138,607
Disposals ( 24,898) ( 24,898)
At 30 November 2024 113,709 113,709
Accumulated depreciation
At 01 December 2023 44,255 44,255
Charge for the financial year 20,865 20,865
Disposals ( 9,920) ( 9,920)
At 30 November 2024 55,200 55,200
Net book value
At 30 November 2024 58,509 58,509
At 30 November 2023 94,352 94,352

5. Debtors

2024 2023
£ £
Trade debtors 21,704 164,249
Other debtors 46,737 113,316
68,441 277,565

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to related parties 0 668,712
Taxation and social security 91,080 34,617
Other creditors 34,964 65,913
126,044 769,242

The amount owed to related parties was fully repaid during the year. The balance related to advances from J&E Shepherd, a partnership in which the shareholders G Brewster and I Fergusson are members. The advances were repayable on demand, with no fixed repayment terms and no interest.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
5,000 Ordinary A shares of £ 0.0004 each 2.00 2.00
499 Ordinary B shares of £ 0.0004 each 0.20 0.20
2.20 2.20