Softbear Property Ltd Company accounts

COMPANY REGISTRATION NUMBER: SC585406

Softbear Property Ltd

Unaudited Financial Statements

31 January 2025

Softbear Property Ltd

Financial Statements

Year ended 31 January 2025

Contents	Page

Directors' report	1

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of comprehensive income	3

Statement of financial position	4

Statement of changes in equity	6

Notes to the financial statements	7

Softbear Property Ltd

Directors' Report

Year ended 31 January 2025

The directors present their report and the unaudited financial statements of the company for the year ended 31 January 2025 .

Directors

The directors who served the company during the year were as follows:

Mr B Finch
Mrs S Finch

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 6 October 2025 and signed on behalf of the board by:

Mrs S Finch

Director

Registered office:

8A North Kirklands

Holehouse Road

Eaglesham

Glasgow

Scotland

G76 0JF

Softbear Property Ltd

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Softbear Property Ltd

Year ended 31 January 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Softbear Property Ltd for the year ended 31 January 2025, which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Softbear Property Ltd, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Softbear Property Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Softbear Property Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Softbear Property Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Softbear Property Ltd. You consider that Softbear Property Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Softbear Property Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GILLILAND & COMPANY Chartered Accountants

216 West George Street Glasgow G2 2PQ

6 October 2025

Softbear Property Ltd

Statement of Comprehensive Income

Year ended 31 January 2025

	2025	2024
Note	£	£

Administrative expenses	58,783	( 33,203)
Other operating income	35,213	32,668
	--------	--------
Operating (loss)/profit	( 23,570)	65,871

Other interest receivable and similar income		–	2
Interest payable and similar expenses		1,843	–
		--------	--------
(Loss)/profit before taxation	4	( 25,413)	65,873

Tax on (loss)/profit	( 6,353)	15,837
	--------	--------
(Loss)/profit for the financial year and total comprehensive income	( 19,060)	50,036
	--------	--------

All the activities of the company are from continuing operations.

Softbear Property Ltd

Statement of Financial Position

31 January 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		522,000	387,000

Current assets

Debtors	6	4,759	375
Cash at bank and in hand		2,296	5,508
		-------	-------
		7,055	5,883

Creditors: amounts falling due within one year	7	382,048		317,963
		---------		---------
Net current liabilities			374,993	312,080
			---------	---------
Total assets less current liabilities			147,007	74,920

Creditors: amounts falling due after more than one year	8		97,500	–

Provisions	7,486	13,839
	---------	--------
Net assets	42,021	61,081
	---------	--------

Capital and reserves

Called up share capital	2	2
Revaluation reserve	47,110	41,518
Profit and loss account	( 5,091)	19,561
	--------	--------
Shareholders funds	42,021	61,081
	--------	--------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 January 2025 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 year in question in accordance with section 476 ;

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

Softbear Property Ltd

Statement of Financial Position (continued)

31 January 2025

These financial statements were approved by the board of directors and authorised for issue on 6 October 2025 , and are signed on behalf of the board by:

Mrs S Finch

Director

Company registration number: SC585406

Softbear Property Ltd

Statement of Changes in Equity

Year ended 31 January 2025

		Called up share capital	Revaluation reserve	Profit and loss account	Total
		£	£	£	£
At 1 February 2023		2	–	13,042	13,044

Profit for the year				50,036	50,036
Other comprehensive income for the year:
	Reclassification from revaluation reserve to profit and loss account	–	55,357	( 55,357)	–
	Tax relating to components of other comprehensive income	–	( 13,839)	13,839	–
		----	--------	--------	--------
Total comprehensive income for the year		–	41,518	8,518	50,036

Dividends paid and payable		–	–	( 1,999)	( 1,999)
		----	--------	--------	--------
Total investments by and distributions to owners		–	–	( 1,999)	( 1,999)

At 31 January 2024		2	41,518	19,561	61,081

Loss for the year				( 19,060)	( 19,060)
Other comprehensive income for the year:
	Reclassification from revaluation reserve to profit and loss account	–	7,456	( 7,456)	–
	Tax relating to components of other comprehensive income	–	( 1,864)	1,864	–
		----	--------	--------	--------
Total comprehensive income for the year		–	5,592	( 24,652)	( 19,060)

		----	--------	--------	--------
At 31 January 2025		2	47,110	( 5,091)	42,021
		----	--------	--------	--------

Softbear Property Ltd

Notes to the Financial Statements

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 8A North Kirklands, Holehouse Road, Eaglesham, Glasgow, G76 0JF, Scotland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Cash and cash equivalent

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Going concern

The company is reliant on the support of the directors in order to continue in operational existence and meet its liabilities as they fall due. The directors are satisfied that they will continue to support the company and as such the going concern basis is appropriate for the preparation of the accounts.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Profit before taxation

Profit before taxation is stated after crediting:

	2025	2024
	£	£
Fair value adjustments to investment property	( 7,456)	( 55,357)
	-------	--------

5. Tangible assets

	Investment Property
	£
Cost or valuation
At 1 February 2024	387,000
Additions	127,544
Revaluations	7,456
	---------
At 31 January 2025	522,000
	---------
Depreciation
At 1 February 2024 and 31 January 2025	–
	---------
Carrying amount
At 31 January 2025	522,000
	---------
At 31 January 2024	387,000
	---------

The properties have been valued at open market value at the year end by the directors.

6. Debtors

	2025	2024
	£	£
Prepayments and accrued income	4,759	375
	-------	----

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Accruals and deferred income	2,523	1,938
Corporation tax	–	1,998
Director loan accounts	379,525	314,027
	---------	---------
	382,048	317,963
	---------	---------

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

	2025	2024
	£	£
Bank loans and overdrafts	97,500	–
	--------	----

The Mortgage Works (UK) plc have been granted security over one of the properties owned by the company in respect of loan borrowings.

9. Directors' advances, credits and guarantees

At the year end the company owed the directors, Mr & Mrs Finch, £379,525 (2024: £314,027). This loan interest free, unsecured and repayable on demand.

10. Controlling party

The company is under the control of the directors, by virtue of their shareholdings.