REGISTERED NUMBER: SC582935 (Scotland)

Financial Statements for the Year Ended 31 December 2024

for

Dunndee Property Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A S Dunn

REGISTERED OFFICE:

277 Perth Road

Dundee

DD2 1JS

REGISTERED NUMBER:

SC582935 (Scotland)

ACCOUNTANTS:

David Nicholls FCCA

Brett Nicholls Associates

Herbert House

24 Herbert Street

Glasgow

G20 6NB

FIXED ASSETS

Investment property

4

137,767

137,767

CURRENT ASSETS

Debtors

5

671

-

Cash at bank

1,113

869

1,784

869

CREDITORS

Amounts falling due within one year

6

65,696

62,550

NET CURRENT LIABILITIES

(63,912

)

(61,681

)

TOTAL ASSETS LESS CURRENT LIABILITIES

73,855

76,086

CREDITORS

Amounts falling due after more than one year

7

69,178

73,368

NET ASSETS

4,677

2,718

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

4,675

2,716

4,677

2,718

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 director acknowledges his 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 director and authorised for issue on 23 September 2025 and were signed by:

A S Dunn - Director

1.	STATUTORY INFORMATION

Dunndee Property 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.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:

The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the Company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

137,767

NET BOOK VALUE

At 31 December 2024

137,767

At 31 December 2023

137,767

The last valuation of the property was at 31 December 2024 by the directors and they are of the opinion that it is stated at fair value in these accounts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

463

-

Other debtors

208

-

671

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

4,190

4,190

Other loans

50,000

50,000

Director's loan account

9,079

6,435

Tax

459

527

Accrued expenses

1,968

1,398

65,696

62,550

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 2-5 years

16,762

16,762

Bank loans due over 5 years

52,416

56,606

69,178

73,368

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due over 5 years

52,416

56,606

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

51,050

51,050

Other loans

50,000

50,000

101,050

101,050

The company has two loans totalling £101,050, which are secured on two properties owned by the company.