Company registration number SC449479 (Scotland)
COULTERS PROPERTY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
COULTERS PROPERTY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
COULTERS PROPERTY LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
23,042
26,542
Tangible assets
4
70,899
67,824
Investments
5
314,582
408,523
94,366
Current assets
Debtors
7
1,602,880
1,062,557
Cash at bank and in hand
71,133
47,125
1,674,013
1,109,682
Creditors: amounts falling due within one year
8
(538,851)
(209,712)
Net current assets
1,135,162
899,970
Total assets less current liabilities
1,543,685
994,336
Creditors: amounts falling due after more than one year
9
(1,818)
(21,818)
Provisions for liabilities
(5,808)
(7,469)
Net assets
1,536,059
965,049
Capital and reserves
Called up share capital
5
5
Share premium account
12,000
12,000
Profit and loss reserves
1,524,054
953,044
Total equity
1,536,059
965,049
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
COULTERS PROPERTY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 August 2025 and are signed on its behalf by:
M H MCPHERSON
M H McPherson
Director
Company Registration No. SC449479
COULTERS PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information
Coulters Property Limited is a private company limited by shares incorporated in Scotland. The registered office is 19 Hope Street, Edinburgh, United Kingdom, EH2 4EL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Goodwill
10% straight line
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
10% - 15% straight line
Office equipment
25% straight line
Website
25% straight line
COULTERS PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.7
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
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 that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
COULTERS PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
1.10
Retirement benefits
The company contributes to a defined contribution plan for it's 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 payment obligations. The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.
1.11
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.12
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
1.13
Interest income is recognised in the Statement of comprehensive income using the effective interest method.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 38 (2024 - 31).
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2024 and 30 April 2025
35,000
Amortisation and impairment
At 1 May 2024
8,458
Amortisation charged for the year
3,500
At 30 April 2025
11,958
Carrying amount
At 30 April 2025
23,042
At 30 April 2024
26,542
COULTERS PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
4
Tangible fixed assets
Fixtures and fittings
Office equipment
Website
Total
£
£
£
£
Cost
At 1 May 2024
67,620
77,889
33,978
179,487
Additions
16,002
9,020
25,022
Disposals
(1,685)
(1,685)
At 30 April 2025
81,937
86,909
33,978
202,824
Depreciation and impairment
At 1 May 2024
29,930
64,479
17,254
111,663
Depreciation charged in the year
7,185
6,582
6,495
20,262
At 30 April 2025
37,115
71,061
23,749
131,925
Carrying amount
At 30 April 2025
44,822
15,848
10,229
70,899
At 30 April 2024
37,690
13,410
16,724
67,824
5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
314,582
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 May 2024
-
Additions
314,582
At 30 April 2025
314,582
Carrying amount
At 30 April 2025
314,582
At 30 April 2024
-
COULTERS PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 7 -
6
Subsidiaries
Details of the company's subsidiaries at 30 April 2025 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Stand Property Limited
19 Hope Street, Edinburgh, Scotland, EH2 4EL
Ordinary shares
50.00
-
Splendid Property Management Ltd
19 Hope Street, Edinburgh, Scotland, EH2 4EL
Ordinary shares
-
50.00
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
309
1,680
Other debtors
1,602,571
1,060,877
1,602,880
1,062,557
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
18,182
18,182
Trade creditors
30,290
30,499
Corporation tax
196,918
51,579
Other taxation and social security
118,090
96,933
Other creditors
175,371
12,519
538,851
209,712
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
1,818
21,818
COULTERS PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 8 -
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
Within one year
54,000
24,000
Between two and five years
158,153
32,153
In over five years
101,836
-
313,989
56,153
11
Related party transactions
During the year, the company made advances of £3,512,644 to an entity with common control. Repayments were also received of £3,071,186 which resulted in amounts due to the company at the year end of £1,205,791 (2024 - £764,661).
In April 2025, the Company acquired a 50% shareholding in Stand Property Limited, company incorporated in Scotland. The investment amounted to £314,582 and £262,795 was settled in cash on the acquisition date with £51,787 being deferred until 12 months after the completion date. £30,664 was also repaid to the director in Stand Property and this loan is now due from Stand Property, Stand Property Limited also hold a 100% interest in Splendid Property Management Limited
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