REGISTERED NUMBER: SC053796 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Neil B. Hepburn Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Jill Mary Hepburn

REGISTERED OFFICE:

19 Deaconsbank Avenue

Thornliebank

Glasgow

G46 7UN

REGISTERED NUMBER:

SC053796 (Scotland)

ACCOUNTANTS:

Accountants Plus

Chartered Certified Accountants

Second Floor

Airbles House

270 Airbles Road

Motherwell

ML1 3AT

FIXED ASSETS

Investment property

4

310,000

310,000

CURRENT ASSETS

Debtors

5

4,286

5,171

Cash at bank

26,043

21,263

30,329

26,434

CREDITORS

Amounts falling due within one year

6

16,092

11,598

NET CURRENT ASSETS

14,237

14,836

TOTAL ASSETS LESS CURRENT LIABILITIES

324,237

324,836

PROVISIONS FOR LIABILITIES

7

47,683

47,683

NET ASSETS

276,554

277,153

CAPITAL AND RESERVES

Called up share capital

26

26

Fair value reserve

8

250,965

250,965

Retained earnings

8

25,563

26,162

SHAREHOLDERS' FUNDS

276,554

277,153

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 August 2025 and were signed by:

Jill Mary Hepburn - Director

1.	STATUTORY INFORMATION

Neil B. Hepburn Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rent receivable in the year, together with recharged services, net of vat.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and bank balances

Cash and bank balances are measured at the transaction price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

310,000

NET BOOK VALUE

At 31 March 2025

310,000

At 31 March 2024

310,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2012

236,206

Valuation in 2022

62,000

Cost

11,794

310,000

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

31.3.25

31.3.24

£

£

Cost

11,794

11,794

Investment property was valued on an open market basis on 17 May 2022 by Whyte & Barrie Chartered Surveyors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

3,514

3,514

VAT

-

1,069

Prepayments

772

588

4,286

5,171

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

4,200

600

Tax

3,378

3,527

VAT

1,093

-

Other creditors

150

150

Deferred income

2,700

2,700

Accrued expenses

4,571

4,621

16,092

11,598

7.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

47,683

47,683

Deferred

tax

£

Balance at 1 April 2024

47,683

Balance at 31 March 2025

47,683

8.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2024

26,162

250,965

277,127

Profit for the year

14,401

14,401

Dividends

(15,000

)

(15,000

)

At 31 March 2025

25,563

250,965

276,528

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

Jill Mary Hepburn

Balance outstanding at start of year

-

5,000

Amounts repaid

-

(5,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-