Petrie Brothers Of Dundee. Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: SC030699

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		-		7,421
Investment Properties	5		797,184		797,184
Investments	6		51,799		51,799

			848,983		856,404
CURRENT ASSETS
Debtors	7	74,586		58,666
Cash at bank and in hand		243,060		245,747

		317,646		304,413
Creditors: Amounts Falling Due Within One Year	8	(6,101 )		(10,668 )

NET CURRENT ASSETS (LIABILITIES)			311,545		293,745

TOTAL ASSETS LESS CURRENT LIABILITIES			1,160,528		1,150,149

PROVISIONS FOR LIABILITIES
Deferred Taxation			(18,950 )		(18,950 )

NET ASSETS			1,141,578		1,131,199

CAPITAL AND RESERVES
Called up share capital	9		24,239		24,239
Profit and Loss Account			1,117,339		1,106,960

SHAREHOLDERS' FUNDS			1,141,578		1,131,199

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Petrie Brothers Of Dundee. Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mrs Linda White

Director

29/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Petrie Brothers Of Dundee. Limited is a private company, limited by shares, incorporated in Scotland, registered number SC030699 . The registered office is 16 Hamilton Street, Broughty Ferry, Dundee, Angus, DD5 2NR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover comprises rental income exclusive of value added tax.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25%
Fixtures & Fittings	25%

2.4. Investment Properties

All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.6. Investments

Listed invesments are included in the accounts at cost.

2.7. Investment income

Investment income and interest receivable on or before the year end are treated as revenue for the year.

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Petrie Brothers Of Dundee. Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. Debtors

Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors

Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purpose of impairment testing, when it is not possible to estimate the amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2023: 2)

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost or Valuation
As at 1 January 2024	29,684	11,267	40,951
Disposals	(29,684 )	-	(29,684 )

As at 31 December 2024	-	11,267	11,267

Depreciation
As at 1 January 2024	22,263	11,267	33,530
Disposals	(22,263 )	-	(22,263 )

As at 31 December 2024	-	11,267	11,267

Net Book Value
As at 31 December 2024	-	-	-

As at 1 January 2024	7,421	-	7,421

5. Investment Property

	2024
	£
Fair Value
As at 1 January 2024 and 31 December 2024	797,184

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Petrie Brothers Of Dundee. Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Investments

	Listed
	£
Cost or Valuation
As at 1 January 2024	51,799

As at 31 December 2024	51,799

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	51,799

As at 1 January 2024	51,799

7. Debtors

	2024	2023
	£	£
Due within one year
Amounts owed by group undertakings	58,666	58,666
Other debtors	15,920	-

	74,586	58,666

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	-	1
Other creditors	2,070	2,562
Taxation and social security	4,031	8,105

	6,101	10,668

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	24,239	24,239

10. Reserves

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