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Registered number: SC047356






East Port Garage (Properties) Limited


FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025
























Prepared By:
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ


ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025





DIRECTORS
Stanley Smart
Jane Smart



SECRETARY
Jane Smart


REGISTERED OFFICE
Woodside
St Ronan's Drive
Kinross
KY13 8AF


COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC047356



ACCOUNTANTS
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ


ACCOUNTS
FOR THEYEARENDED31 MARCH 2025



CONTENTS



		Page

Directors' Report		-

Accountants' Report		-

Statement Of Comprehensive Income		-

Balance Sheet		3

Notes To The Accounts		4


The following do not form part of the statutory financial statements:

Trading And Profit And Loss Account		-

Profit And Loss Account Summaries		-


BALANCE SHEET AT 31 March 2025

			2025		2024
	Notes		£		£

FIXED ASSETS
Tangible assets	3		1,000,481		1,000,600

CURRENT ASSETS
Debtors	5	17,620		-
Cash at bank and in hand		73,454		59,712
		91,074		59,712
CREDITORS: Amounts falling due within one year	6	38,715		40,932
NET CURRENT ASSETS			52,359		18,780
TOTAL ASSETS LESS CURRENT LIABILITIES			1,052,840		1,019,380


PROVISIONS FOR LIABILITIES AND CHARGES			125		140

NET ASSETS			1,052,715		1,019,240

CAPITAL AND RESERVES

Called up share capital	7		100		100
Profit and loss account			1,052,615		1,019,140
SHAREHOLDERS' FUNDS			1,052,715		1,019,240

For the year ending 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.

Approved by the board on 29 October 2025 and signed on their behalf by



.............................
Stanley Smart
Director




1a. General Information & Basis of Accounting
The company is limited by shares and incorporated in Scotland. The address of the registered office is given in the company information on page 1 of these financial statements.
The financial statements have been prepared in accordance with Financial Reporting Standard FRS 102 including Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard.
The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise shown.




1b. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rent received. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.




1c. Tangible Fixed Assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation has been provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant And Machinery		reducing balance20%
Equipment		reducing balance15%




1d. Investment Properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.




1e. Impairment Of 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.




1f. Cash And Cash Equivalents
Cash and cash equivalents are basic financial instruments which include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.




1g. Financial Instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured 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 present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.




1h. Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.




1i. Critical Accounting Estimates And Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.
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.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates 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.




3. TANGIBLE FIXED ASSETS

	Land And	Plant and
	Buildings	Machinery Etc.	Total
	£	£	£
Cost
At 1 April 2024	999,980	5,150	1,005,130
Additions	-	499	499
Disposals	-	(4,160)	(4,160)
At 31 March 2025	999,980	1,489	1,001,469
Depreciation
At 1 April 2024	-	4,530	4,530
Disposals	-	(3,637)	(3,637)
For the year	-	95	95
At 31 March 2025	-	988	988
Net Book Amounts
At 31 March 2025	999,980	501	1,000,481
At 31 March 2024	999,980	620	1,000,600




4. INVESTMENT PROPERTIES

	Investment
	Properties	Total
	£	£
Fair value
At 1 April 2024	999,980	999,980
At 31 March 2025	999,980	999,980
The fair value of the investment properties has been arrived at on the basis of valuations carried out by Chartered Surveyors, who are not connected with the company. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties. On the 27th March 2018, one of the investment properties was revalued to £400,000 by Andrew Reilly Associates Limited, 31 Rutland Square, Edinburgh. On the 14th March 2018, one of the investment properties was revalued to £500,000 by Shepherd Chartered Surveyors, The Signature Building, 8 Pitreavie Court, Dunfermline. The directors are of the opinion that the carrying amount at 31 March 2025 is a fair reflection of the market value. The historical cost of the investment properties is £697,838.




2. EMPLOYEES

	2025	2024
	No.	No.
Average number of employees	-	-




6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2025	2024
	£	£
Taxation and social security	21,030	21,557
Other creditors	17,685	19,375
	38,715	40,932




7. SHARE CAPITAL	2025	2024
	£	£
Allotted, issued and fully paid:
51 Ordinary Class A shares of £1 each	51	51
49 Ordinary Class B shares of £1 each	49	49
	100	100


The issued Ordinary A shares and issued Ordinary B shares rank pari passu with each other except that the director of the company may resolve to declare a dividend on one or more classes of share.




5. DEBTORS	2025	2024
	£	£

Amounts falling due within one year:
Other debtors	17,620	-
	17,620	-




8. PROFIT AND LOSS RESERVES
Profit and loss account - This reserve records retained earnings and accumulated losses including surplus/ deficit on market value changes of investment properties. At the year end £527,649 (2024 - £527,649) is non distributable.