Company No: SC126359 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	60,406		75,508
Investment property	4	1,437,426		1,439,427
		1,497,832		1,514,935
Current assets
Debtors	5	12,403		14,070
Cash at bank and in hand		41,978		6,319
		54,381		20,389
Creditors: amounts falling due within one year	6	( 608,677)		( 579,763)
Net current liabilities		(554,296)		(559,374)
Total assets less current liabilities		943,536		955,561
Creditors: amounts falling due after more than one year	7	( 922,810)		( 967,029)
Provision for liabilities	8	( 35,734)		( 27,785)
Net liabilities		( 15,008)		( 39,253)
Capital and reserves
Called-up share capital	9	3		3
Fair value reserve		166,018		165,162
Profit and loss account		( 181,029 )		( 204,418 )
Total shareholders' deficit		( 15,008)		( 39,253)

For the financial 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.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of S. & D. Properties (Investments) Limited (registered number: SC126359) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

Ms C M Swan Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

S. & D. Properties (Investments) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 79 West Regent Street, Suite 1/1, Glasgow, G2 2AW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £15,008. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents net invoiced value of rents, excluding value added tax.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

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 property, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles	20 % reducing balance
Computer equipment	2 years straight line

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.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are recognised at transaction price .

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

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. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Tangible assets

	Vehicles		Computer equipment		Total
	£		£		£
Cost
At 01 January 2024	105,289		1,717		107,006
At 31 December 2024	105,289		1,717		107,006
Accumulated depreciation
At 01 January 2024	29,781		1,717		31,498
Charge for the financial year	15,102		0		15,102
At 31 December 2024	44,883		1,717		46,600
Net book value
At 31 December 2024	60,406		0		60,406
At 31 December 2023	75,508		0		75,508

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	1,439,427
Fair value movement	(2,001)
As at 31 December 2024	1,437,426

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.

5. Debtors

	2024		2023
	£		£
Trade debtors	6,318		6,887
Amounts owed by related parties	0		1,456
Other debtors	6,085		5,727
	12,403		14,070

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	44,771		42,908
Trade creditors	1,111		1
Amounts owed to related parties	542,254		517,504
Other creditors	20,541		19,350
	608,677		579,763

The Bank of Scotland plc loan holds a first ranking standard security and bond and floating charge over the assets of the company.

The Bank of Scotland plc loan also holds a bond and floating charge over 7 Rodney Street, Edinburgh and 404 Dumbarton Road, Glasgow owned by S & D Properties (Edinburgh) Ltd.

A guarantee and indemnity for £600,000 and interest has been provided by S & D Properties (Edinburgh) Ltd.

The Bank of Scotland plc loan included within S & D Properties (Edinburgh) Ltd holds a bond and floating charge over 79 West Regent Street, Glasgow.

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	341,846		386,065
Other creditors	580,964		580,964
	922,810		967,029

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2024		2023
	£		£
Bank loans (repayable by instalments)	156,777		205,028

The Bank of Scotland plc loan holds a first ranking standard security and bond and floating charge over the assets of the company.

The Bank of Scotland plc loan also holds a bond and floating charge over 7 Rodney Street, Edinburgh and 404 Dumbarton Road, Glasgow owned by S & D Properties (Edinburgh) Ltd.

A guarantee and indemnity for £600,000 and interest has been provided by S & D Properties (Edinburgh) Ltd.

The Bank of Scotland plc loan included within S & D Properties (Edinburgh) Ltd holds a bond and floating charge over 79 West Regent Street, Glasgow.

8. Provision for liabilities

	2024		2023
	£		£
Deferred tax	35,734		27,785

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
3 Ordinary shares of £ 1.00 each	3		3

10. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Amounts owed to key management personnel	580,964		580,964

Amounts due to key management personnel are unsecured, interest free and have no fixed terms of repayment.

Other related party transactions

	2024		2023
	£		£
Amounts owed by other relates parties	0		1,456
Amounts owed to other related parties	542,254		458,582

Amounts due to S & D Properties (Edinburgh) Ltd are unsecured, are charged interest at market rate and have no fixed repayment terms.