REGISTERED NUMBER: SC040121 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Balmadies Estate Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J C Osborne

J R Osborne

N G Osborne

C G Osborne

SECRETARY:

MBM Secretarial Services Ltd

REGISTERED OFFICE:

c/o J C Osborne Esq

Bell Ingram

Manor Street

Forfar

Angus

DD8 1EX

REGISTERED NUMBER:

SC040121 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

BANKERS:

Bank of Scotland

72 West High Street

Forfar

DD8 2TD

SOLICITORS:

Murray Beith Murray WS

3 Glenfinlas Street

Edinburgh

EH3 6AQ

FIXED ASSETS

Tangible assets

4

22,681

10,984

Investment property

5

5,600,000

4,848,746

5,622,681

4,859,730

CURRENT ASSETS

Debtors

6

7,086

303,199

Cash at bank

17,403

25,380

24,489

328,579

CREDITORS

Amounts falling due within one year

7

21,501

4,678

NET CURRENT ASSETS

2,988

323,901

TOTAL ASSETS LESS CURRENT LIABILITIES

5,625,669

5,183,631

PROVISIONS FOR LIABILITIES

8

1,322,726

1,134,912

NET ASSETS

4,302,943

4,048,719

CAPITAL AND RESERVES

Called up share capital

62,000

70,000

Capital redemption reserve

8,000

-

Fair value reserve

9

4,164,713

3,601,873

Retained earnings

68,230

376,846

SHAREHOLDERS' FUNDS

4,302,943

4,048,719

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.

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2025 and were signed on its behalf by:

J C Osborne - Director

1.	STATUTORY INFORMATION

Balmadies Estate Limited 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax, and other sales taxes.

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represent the value of services provided under contracts to the extent that there is a right to consideration and is recorded at fair value of the consideration received or receivable.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is

provided on all tangible fixed assets, other than investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Freehold property - 2% per annum

Improvements to property - 5% per annum

Plant and machinery - 20% per annum

Fixture and fittings - 20% per annum

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.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Investment property

Investment properties are measured at fair value annually with any change recognised in the profit and loss account.

In accordance with Financial Reporting Standard 102 no depreciation is provided in respect of freehold properties held as investment properties.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently

measured at their settlement value.

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.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2024

17,779

4,448

22,227

Additions

11,947

-

11,947

At 31 March 2025

29,726

4,448

34,174

DEPRECIATION

At 1 April 2024

7,045

4,198

11,243

Charge for year

-

250

250

At 31 March 2025

7,045

4,448

11,493

NET BOOK VALUE

At 31 March 2025

22,681

-

22,681

At 31 March 2024

10,734

250

10,984

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

4,848,746

Additions

1,200

Revaluations

750,054

At 31 March 2025

5,600,000

NET BOOK VALUE

At 31 March 2025

5,600,000

At 31 March 2024

4,848,746

Fair value at 31 March 2025 is represented by:

£

Valuation in 2024

5,600,000

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

31.3.25

31.3.24

£

£

Cost

166,016

166,016

Aggregate depreciation

(47,127

)

(47,127

)

Investment property was valued on an open market basis on 4 December 2024 by Bell Ingram .

6.

DEBTORS

31.3.25

31.3.24

£

£

Amounts falling due within one year:

Trade debtors

-

600

Other debtors

7,086

7,495

7,086

8,095

Amounts falling due after more than one year:

Other debtors

-

295,104

Aggregate amounts

7,086

303,199

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Taxation and social security

-

2,035

Other creditors

21,501

2,643

21,501

4,678

8.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax provision

1,322,726

1,134,912

Deferred

tax

£

Balance at 1 April 2024

1,134,912

Provided during year

187,814

Balance at 31 March 2025

1,322,726

9.

RESERVES

Fair

value

reserve

£

At 1 April 2024

3,601,873

Transfer

562,840

At 31 March 2025

4,164,713

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

J C Osborne

Balance outstanding at start of year

733

4,655

Amounts repaid

(937

)

(3,922

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(204

)

733

11.	RELATED PARTY DISCLOSURES

Related Party

Type of Transaction

Transactions in year

Transactions in year

Receivable from/ (Payable to) related party as at

Receivable from/ (Payable to) related party as at

31.3.25

31.3.24

31.3.25

31.3.24

£

£

£

£

(1) Partnership under common control

Loan

313,406

(11,325)

(18,302)

295,104

Management

1,500

1,500

-

-

charge

Rent

(60,000)

(60,000)

-

-

(1) Two directors and shareholders of Balmadies Estate Limited are also partners in the above partnership. There are no fixed terms for repayment of the above loan. Interest is charged at the Bank of England base rate.

12.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.