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Company No: SC349265 (Scotland)

SCOPE REAL ESTATE LIMITED

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

SCOPE REAL ESTATE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024

Contents

SCOPE REAL ESTATE LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2024
SCOPE REAL ESTATE LIMITED

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2024
Note 2024 2023
£ £
Current assets
Debtors 3 39,527 4,726
Cash at bank and in hand 3,148 477
42,675 5,203
Creditors: amounts falling due within one year 4 ( 747,305) ( 214,846)
Net current liabilities (704,630) (209,643)
Total assets less current liabilities (704,630) (209,643)
Creditors: amounts falling due after more than one year 5 0 ( 397,314)
Net liabilities ( 704,630) ( 606,957)
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account ( 704,631 ) ( 606,958 )
Total shareholder's deficit ( 704,630) ( 606,957)

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.

Director's responsibilities:

The financial statements of Scope Real Estate Limited (registered number: SC349265) were approved and authorised for issue by the Director on 29 August 2025. They were signed on its behalf by:

Mr C Traynor
Director
SCOPE REAL ESTATE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2024
SCOPE REAL ESTATE 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

Scope Real Estate 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 69 St. Vincent Street, Glasgow, G2 5TF, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £737,188. The Company is supported through loans from Related Companies. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Related Companies will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met 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 is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

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.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

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 bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Debtors

2024 2023
£ £
Deferred tax asset 32,558 0
Other debtors 6,969 4,726
39,527 4,726

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,320 0
Amounts owed to Group undertakings 739,914 193,728
Taxation and social security 3,495 18,915
Other creditors 2,576 2,203
747,305 214,846

5. Creditors: amounts falling due after more than one year

2024 2023
£ £
Amounts owed to fellow subsidiaries 0 193,743
Amounts owed to related parties 0 203,571
0 397,314

There are no amounts included above in respect of which any security has been given by the small entity.

6. Deferred tax

2024 2023
£ £
At the beginning of financial year 0 0
Credited to the Profit and Loss Account 32,558 0
At the end of financial year 32,558 0

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

8. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts due to group companies 739,914 591,042

These loans are unsecured, interest has been charged at 2.5% and have no fixed date of repayment.