Company registration number SC348330 (Scotland)
PREMIER DEVELOPMENTS (SCOTLAND) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
PREMIER DEVELOPMENTS (SCOTLAND) LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
PREMIER DEVELOPMENTS (SCOTLAND) LTD
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
11,750
-
0
Investment property
4
1,174,619
834,225
1,186,369
834,225
Current assets
Debtors
5
12,782
9,193
Cash at bank and in hand
3,486
7,109
16,268
16,302
Creditors: amounts falling due within one year
7
(565,095)
(322,736)
Net current liabilities
(548,827)
(306,434)
Total assets less current liabilities
637,542
527,791
Creditors: amounts falling due after more than one year
6
(82,530)
-
Provisions for liabilities
(19,403)
(424)
Net assets
535,609
527,367
Capital and reserves
Called up share capital
8
4
4
Other reserves
140,275
156,740
Profit and loss reserves
395,330
370,623
Total equity
535,609
527,367
PREMIER DEVELOPMENTS (SCOTLAND) LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 August 2025 and are signed on its behalf by:
M DUNCAN
K DUNCAN
M Duncan
K Duncan
Director
Director
Company registration number SC348330 (Scotland)
PREMIER DEVELOPMENTS (SCOTLAND) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Premier Developments (Scotland) Ltd is a private company limited by shares incorporated in Scotland. The registered office is West Pitmillan, Ellon, United Kingdom, AB41 6AL.

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 a mounts in these financial statements are rounded to the nearest £.

1.2
Going concern

At true 31 March 2025 the company has net current liabilities of £548,827 (2024: £306,434). Included within these liabilities are amounts due to related parties of £516,200 (2024: £250,000). The financial statements are prepared on a going concern basis, which assumes that the company will continue to meet its liabilities as they fall due. The related parties have confirmed they shall not seek repayment of amounts due to the detriment of other creditors. Furthermore the directors have confirmed they shall continue to support the company to facilitate its ability to continue trading as a going concern for the foreseeable future. As a result, the directors have continued to adopt a going concern basis of accounting in preparing the annual financial statements.

1.3
Turnover

Rental income is recognised for the period to which it relates to. Any rentals invoiced in advance are deferred accordingly over the year end.

1.4
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:

Motor vehicles
25% reducing balance

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.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, 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 Statement of comprehensive income.

1.6
Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

PREMIER DEVELOPMENTS (SCOTLAND) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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 and other 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.

PREMIER DEVELOPMENTS (SCOTLAND) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
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.

1.10
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
3
Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2024
-
0
Additions
12,000
At 31 March 2025
12,000
Depreciation and impairment
At 1 April 2024
-
0
Depreciation charged in the year
250
At 31 March 2025
250
Carrying amount
At 31 March 2025
11,750
At 31 March 2024
-
0
PREMIER DEVELOPMENTS (SCOTLAND) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
4
Investment property
2025
£
Fair value
At 1 April 2024
834,225
Additions
340,394
At 31 March 2025
1,174,619

The 2025 valuations were made by the directors, on an open market value for a fair value basis.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
7,580
7,340
Other debtors
5,202
1,853
12,782
9,193
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
82,530
-
0
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
6,667
-
0
Corporation tax
6,645
9,983
Other taxation and social security
-
0
2,369
Other creditors
551,783
310,384
565,095
322,736
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
0
4
-
0
4
Ordinary A shares of 20p each
18
0
4
-
0
Ordinary B shares of 20p each
1
0
-
0
-
0
Ordinary C shares of 20p each
1
0
-
0
-
0
20
4
4
4
PREMIER DEVELOPMENTS (SCOTLAND) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
8
Called up share capital
(Continued)
- 7 -

On the 24 October 2024 the company re-designated their shares into 18 20p A Ordinary shares, 1 20p B Ordinary share and 1 20p C Ordinary share.

9
Security

The Royal Bank of Scotland holds a standard security over the Company's investment property and a floating charge over all the assets.

10
Related party transactions

During the current year, the company received credits of £45,000 from the directors and made no advances resulting in amounts due by the company at the year end of £45,000 (2024: nil). The loan is unsecured and interest free with no fixed repayment terms in place.

During the year, the company received credits from a company with common directors of £171,200 and made no advances which resulted in a loan balance due by the company at the year end of £341,200 (2024: £170,000). T he loan is unsecured and interest free with no fixed repayment terms in place.

During the year, the company received credits from another company with common directors of £50,000 and made no advances which resulted in a loan balance due by the company at the year end of £130,000 (2024: £80,000). T he loan is unsecured and interest free with no fixed repayment terms in place.

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