REGISTERED NUMBER: SC379473 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 June 2025

for

Option Properties (Scotland) Ltd.

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

K F Saunders

G Saunders

REGISTERED OFFICE:

14 Rutland Square

Edinburgh

Midlothian

EH1 2BD

REGISTERED NUMBER:

SC379473 (Scotland)

ACCOUNTANTS:

Gibson McKerrell Burrows Limited

28 Rutland Square

Edinburgh

EH1 2BW

BANKERS:

The Royal Bank of Scotland plc

36 St Andrew Square

Edinburgh

EH2 2AD

FIXED ASSETS

Tangible assets

4

-

219

Investment property

5

1,548,273

1,548,273

1,548,273

1,548,492

CURRENT ASSETS

Debtors

6

32,855

37,734

Cash at bank

69,509

105,167

102,364

142,901

CREDITORS

Amounts falling due within one year

7

149,294

158,345

NET CURRENT LIABILITIES

(46,930

)

(15,444

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,501,343

1,533,048

PROVISIONS FOR LIABILITIES

8

190,218

190,272

NET ASSETS

1,311,125

1,342,776

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

1,311,025

1,342,676

SHAREHOLDERS' FUNDS

1,311,125

1,342,776

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

K F Saunders - Director

1.	STATUTORY INFORMATION

Option Properties (Scotland) 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.

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 attributable to the company's principal activity of property management and rental..

Tangible fixed assets

Tangible fixed assets are initially measured at cost. Cost includes the original purchase price and costs directly attributable to bringing the asset to its present location and into its present condition. After initial recognition, the assets are measured at cost less any accumulated depreciation and any accumulated impairment losses. Freehold properties are subsequently measured at their revalued amount, being the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is provided by equal instalments at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. Land is not depreciated.

Computer equipment - over 4 years

Depreciation and impairment losses are charged to the Statement of Comprehensive Income within administrative expenses.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties are initially measured at cost, including transaction costs. Subsequently, investment properties whose fair value can be measured reliably without undue cost or effort, on an on-going basis, are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Investment properties whose fair value cannot be measured reliably without undue cost or effort, on an on-going basis, are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses.

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 payables, loans from banks and other third parties.

At the end of each reporting period, financial assets that are measured at cost are assessed for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows arising from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party.

Financial liabilities are measured at amortised cost less any accumulated impairment losses. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2024

and 30 June 2025

1,505

DEPRECIATION

At 1 July 2024

1,286

Charge for year

219

At 30 June 2025

1,505

NET BOOK VALUE

At 30 June 2025

-

At 30 June 2024

219

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2024

and 30 June 2025

1,548,273

NET BOOK VALUE

At 30 June 2025

1,548,273

At 30 June 2024

1,548,273

Fair value at 30 June 2025 is represented by:

£

Valuation in 2021

602,454

Valuation in 2023

250,000

Cost

695,819

1,548,273

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

2025

2024

£

£

Cost

695,819

695,819

Investment property was valued on an open market basis on 8 September 2023 by D M Hall, Chartered Surveyors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

32,855

37,734

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

16,317

37,762

Other creditors

132,977

120,583

149,294

158,345

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

190,218

190,272

Deferred

tax

£

Balance at 1 July 2024

190,272

Utilised during year

(54

)

Deferred tax on revaluation

Balance at 30 June 2025

190,218

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

A Ordinary

£1

1

1

1

B Ordinary

£1

1

1

1

C Ordinary

£1

1

1

1

D Ordinary

£1

1

1

1

E Ordinary

£1

1

1

1

F Ordinary

£1

1

1

6

6

Allotted and issued:

Number:

Class:

Nominal

2025

2024

value:

£

£

94

Share capital 1

£1

94

94

10.

RESERVES

Retained earnings are analysed as follows:

30 06 25

30. 06 24

£

£

Distributable

719,889

680,440

Non-distributable

662,236

662,236

Total

1,382,125

1,342,676

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £37,300 (2024 - £48,600) were paid to the directors .

The director is due £111,938 from the company and this loan is interest free, unsecured and is repayable on demand.