REGISTERED NUMBER: SC406707 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Melville Estates Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C R Campbell

H R Campbell

REGISTERED OFFICE:

Quartermile Two

2 Lister Square

Edinburgh

EH3 9GL

REGISTERED NUMBER:

SC406707 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

488,992

203,000

488,992

203,000

CURRENT ASSETS

Debtors

6

9,511

13,913

Cash at bank

124,973

59,199

134,484

73,112

CREDITORS

Amounts falling due within one year

7

437,468

120,974

NET CURRENT LIABILITIES

(302,984

)

(47,862

)

TOTAL ASSETS LESS CURRENT LIABILITIES

186,008

155,138

PROVISIONS FOR LIABILITIES

1,600

1,600

NET ASSETS

184,408

153,538

CAPITAL AND RESERVES

Called up share capital

8

100

100

Fair value reserve

9

10,480

10,480

Retained earnings

9

173,828

142,958

SHAREHOLDERS' FUNDS

184,408

153,538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 16 August 2025 and were signed on its behalf by:

C R Campbell - Director

H R Campbell - Director

1.	STATUTORY INFORMATION

Melville Estates Ltd. 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis, the acceptability of which is dependent on the continued support of the directors.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are stated at cost [or valuation], net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cos, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings - 10% per annum

Computer equipment - 10% per annum

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Investment property

Investment properties, for which fair value can be measured reliably without undue cost or effort on an ongoing basis, are measured at fair value annually with any change recognised in the profit and loss account.

In accordance with Financial Reporting Standard 102 no depreciation is provided in respect of freehold properties held as investment properties where fair value can be measured reliably without undue cost or effort. This is a departure from the requirements of the Companies Act 2006, which requires all properties to be depreciated. Such properties are held for investment and not for consumption, and the directors consider that to depreciate them would not give a true and fair view.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

8,000

493

8,493

DEPRECIATION

At 1 January 2024

and 31 December 2024

8,000

493

8,493

NET BOOK VALUE

At 31 December 2024

-

-

-

At 31 December 2023

-

-

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

203,000

Additions

285,992

At 31 December 2024

488,992

NET BOOK VALUE

At 31 December 2024

488,992

At 31 December 2023

203,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2017

31,010

Valuation in 2022

(19,500

)

Cost

477,482

488,992

If investment property had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

477,482

191,490

Investment property was valued on an open market basis on 9 September 2022 by Colliers International .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

-

2,700

Other debtors

9,511

11,213

9,511

13,913

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

172

-

Taxation and social security

7,241

2,237

Other creditors

430,055

118,737

437,468

120,974

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

98

Ordinary

£1

98

98

1

Ordinary A

£1

1

1

1

Ordinary B

£1

1

1

100

100

9.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2024

142,958

10,480

153,438

Profit for the year

30,870

30,870

At 31 December 2024

173,828

10,480

184,308

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 December 2024 the company owed the directors £428,164 (2023: £114,537).

11.	RELATED PARTY DISCLOSURES

During the year no management fees were paid to a director (2023 - £3,300).

12.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.