REGISTERED NUMBER: SC492924 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Advance Freehold Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J M Shields

Mrs D T Shields

T B Dignall

REGISTERED OFFICE:

Caldergrove House

4 Linnet Way,

Strathclyde Business Park

Bellshill

ML4 3RA

REGISTERED NUMBER:

SC492924 (Scotland)

ACCOUNTANTS:

Graham & Co. (Accountants) Limited

76 Dumbarton Road

Clydebank

Glasgow

G81 1UG

FIXED ASSETS

Tangible assets

4

218,506

179,046

Investment property

5

6,530,233

6,509,433

6,748,739

6,688,479

CURRENT ASSETS

Debtors

6

296,384

126,334

Cash at bank and in hand

398,548

424,547

694,932

550,881

CREDITORS

Amounts falling due within one year

7

5,943,503

5,910,260

NET CURRENT LIABILITIES

(5,248,571

)

(5,359,379

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,500,168

1,329,100

PROVISIONS FOR LIABILITIES

54,627

44,927

NET ASSETS

1,445,541

1,284,173

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,445,441

1,284,073

SHAREHOLDERS' FUNDS

1,445,541

1,284,173

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 29 September 2025 and were signed on its behalf by:

J M Shields - Director

1.	STATUTORY INFORMATION

Advance Freehold 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 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.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Changes to estimates and underlying assumptions are recognised in the period in which the estimate is revised, where the revision affects only that period, or in the period of the revision and future periods, where the revision affects both current and future periods.

The directors are of the opinion that there are no matters of significant judgements, estimates and assumptions that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Tangible fixed assets

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

Plant and machinery etc

-

20% on cost and 10% on cost

Impairment of tangible fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

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

The company has elected to apply the provisions of Section11 'Basic Financial Instruments' and Section 12 'Other financial Instrument Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the assets and settle the liability simultaneously

Basic financial assets, which include debtors and cash and bank balances, are initially recognised at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the net present value of the future receipts discounted at a market rate. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic 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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

185,533

Additions

79,958

At 31 December 2024

265,491

DEPRECIATION

At 1 January 2024

6,487

Charge for year

40,498

At 31 December 2024

46,985

NET BOOK VALUE

At 31 December 2024

218,506

At 31 December 2023

179,046

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

6,509,433

Additions

20,800

At 31 December 2024

6,530,233

NET BOOK VALUE

At 31 December 2024

6,530,233

At 31 December 2023

6,509,433

The directors are of the opinion that at 31 December 2024 the fair value of the investment properties was unchanged from their cost. In making this assessment they have considered the purchase price, the condition of the premises, the lease, the tenant and the current market conditions and uncertainties.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

261,453

94,767

Other debtors

34,931

31,567

296,384

126,334

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

37,958

33,231

Taxation and social security

50,732

16,631

Other creditors

5,854,813

5,860,398

5,943,503

5,910,260

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

A standard security was granted on 24 July 2023 in favour of John G Russell Transport Ltd. The standard security granted was in relation titles situated at Goil Avenue, Bellshill (The titles being LAN90356 and LAN174582).

All bank borrowings were settled on 26 April 2023.

Bank borrowings were secured by standard securities over the properties owned by the company and by a bond and floating charge in favour of The Royal Bank of Scotland plc.

9.	RELATED PARTY DISCLOSURES

Advance Construction Group Ltd, Advance Construction (Scotland) Ltd and Structureseal Services Ltd are related parties by means of common directors and shareholders. Advance Freehold Ltd provides services in the normal course of business, on normal commercial terms.

During the period the company received income from related parties in the amount of - £307,021 (2023 - £299,321).

Trade Debtors includes a balance of £155,167 (2023 - £22,167) due by a related party.

Other Creditors includes balances of £5,807,466 (2023 - £5,806,966) due to related parties.