IRIS Accounts Production v25.2.0.378 SC683218 Board of Directors 1.4.24 31.3.25 31.3.25 0 0 false true false false true false Fair value model iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC683218 2024-03-31 SC683218 2025-03-31 SC683218 2024-04-01 2025-03-31 SC683218 2023-03-31 SC683218 2023-04-01 2024-03-31 SC683218 2024-03-31 SC683218 ns15:Scotland 2024-04-01 2025-03-31 SC683218 ns14:PoundSterling 2024-04-01 2025-03-31 SC683218 ns10:Director1 2024-04-01 2025-03-31 SC683218 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC683218 ns10:SmallEntities 2024-04-01 2025-03-31 SC683218 ns10:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 SC683218 ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 SC683218 ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 SC683218 ns10:FullAccounts 2024-04-01 2025-03-31 SC683218 ns10:Director2 2024-04-01 2025-03-31 SC683218 ns10:Director3 2024-04-01 2025-03-31 SC683218 ns10:Director4 2024-04-01 2025-03-31 SC683218 ns10:CompanySecretary1 2024-04-01 2025-03-31 SC683218 ns10:RegisteredOffice 2024-04-01 2025-03-31 SC683218 ns5:CurrentFinancialInstruments 2025-03-31 SC683218 ns5:CurrentFinancialInstruments 2024-03-31 SC683218 ns5:ShareCapital 2025-03-31 SC683218 ns5:ShareCapital 2024-03-31 SC683218 ns5:FurtherSpecificReserve3ComponentTotalEquity 2025-03-31 SC683218 ns5:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 SC683218 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 SC683218 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 SC683218 ns5:PlantMachinery 2024-04-01 2025-03-31 SC683218 ns5:PlantMachinery 2024-03-31 SC683218 ns5:PlantMachinery 2025-03-31 SC683218 ns5:PlantMachinery 2024-03-31 SC683218 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 SC683218 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 SC683218 ns5:AcceleratedTaxDepreciationDeferredTax 2025-03-31 SC683218 ns5:AcceleratedTaxDepreciationDeferredTax 2024-03-31 SC683218 ns5:DeferredTaxation 2024-03-31 SC683218 ns5:DeferredTaxation 2024-04-01 2025-03-31 SC683218 ns5:DeferredTaxation 2025-03-31

REGISTERED NUMBER: SC683218 (Scotland)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 MARCH 2025 |

| FOR |

| MYLES BETTER PROPERTY LTD |

MYLES BETTER PROPERTY LTD (REGISTERED NUMBER: SC683218)

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 March 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

MYLES BETTER PROPERTY LTD

COMPANY INFORMATION

for the year ended 31 March 2025

| DIRECTORS: | J A Myles

| S Myles

| G Myles

| A T Myles

| SECRETARY: | G Myles

| REGISTERED OFFICE: | 10 Margaret Rose Walk

| Edinburgh

| EH10 7EY

| REGISTERED NUMBER: | SC683218 (Scotland)

| ACCOUNTANTS: | Haines Watts

| Business Advisors and Accountants

| Q Court

| 3 Quality Street

| Edinburgh

| EH4 5BP

MYLES BETTER PROPERTY LTD (REGISTERED NUMBER: SC683218)

BALANCE SHEET

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 365 |  | 501 |  |

Investment property | 5 | 434,133 |  | 421,234 |  |

434,498 |  | 421,735 |  |

CURRENT ASSETS

Debtors | 6 | 8,263 |  | 11,656 |  |

Cash at bank and in hand | 8,590 |  | 5,060 |  |

16,853 |  | 16,716 |  |

CREDITORS

Amounts falling due within one year | 7 | 395,643 |  | 405,248 |  |

NET CURRENT LIABILITIES | (378,790 | ) | (388,532 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 55,708 |  | 33,203 |  |

PROVISIONS FOR LIABILITIES | 8 | 2,421 |  | 2,447 |  |

NET ASSETS | 53,287 |  | 30,756 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Non-distributable reserve | 10,028 |  | 10,028 |  |

Retained earnings | 43,159 |  | 20,628 |  |

SHAREHOLDERS' FUNDS | 53,287 |  | 30,756 |  |

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 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.

MYLES BETTER PROPERTY LTD (REGISTERED NUMBER: SC683218)

BALANCE SHEET - continued

31 March 2025

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

J A Myles - Director

MYLES BETTER PROPERTY LTD (REGISTERED NUMBER: SC683218)

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 March 2025

1. | STATUTORY INFORMATION

| Myles Better Property 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| At the period end, the company had net current liabilities of £378,790 (2024 - £388,532). The company continues to be supported by the directors who provide funding for operations. The operational funding support is expected to continue for a period of at least one year after the date of signing the financial statements.

| TURNOVER

| Turnover represents rental income receivable in the year, net of Value Added Tax.

| TANGIBLE FIXED ASSETS

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Plant and machinery | - | 20% per annum on cost

| IMPAIRMENT OF ASSETS

| At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

| If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

| 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.

MYLES BETTER PROPERTY LTD (REGISTERED NUMBER: SC683218)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| FINANCIAL INSTRUMENTS

| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

| Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

| TAXATION

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. | EMPLOYEES AND DIRECTORS

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

MYLES BETTER PROPERTY LTD (REGISTERED NUMBER: SC683218)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 683 |  |

| DEPRECIATION

| At 1 April 2024 | 182 |  |

| Charge for year | 136 |  |

| At 31 March 2025 | 318 |  |

| NET BOOK VALUE

| At 31 March 2025 | 365 |  |

| At 31 March 2024 | 501 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2024 | 421,234 |  |

| Additions | 12,899 |  |

| At 31 March 2025 | 434,133 |  |

| NET BOOK VALUE

| At 31 March 2025 | 434,133 |  |

| At 31 March 2024 | 421,234 |  |

| Fair value at 31 March 2025 is represented by:

£ |

| Valuation in 2024 | 12,380 |  |

| Cost | 421,753 |  |

434,133 |  |

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

2025 | 2024 |

£ | £ |

| Cost | 421,753 |  | 408,854 |  |

| Investment property was valued on an open market basis on 31 March 2025 by the directors .

MYLES BETTER PROPERTY LTD (REGISTERED NUMBER: SC683218)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 8,263 |  | 6,000 |  |

| Other debtors | - |  | 5,656 |  |

8,263 |  | 11,656 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 138 |  | 492 |  |

| Taxation and social security | 9,287 |  | 2,636 |  |

| Other creditors | 386,218 |  | 402,120 |  |

395,643 |  | 405,248 |  |

8. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 69 |  | 95 |  |

| Revalued assets | 2,352 |  | 2,352 |  |

2,421 |  | 2,447 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 2,447 |  |

| Provided during year | (26 | ) |

| Balance at 31 March 2025 | 2,421 |  |

9. | RELATED PARTY DISCLOSURES

| Included in "Other creditors" are amounts totalling £365,024 (2024 - £365,732) due to directors from the company. The loan is interest free and repayable on demand.