Company No: SC259147 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	30.09.2025		30.11.2024
		£		£
Fixed assets
Tangible assets	3	0		182
Investment property	4	0		377,084
		0		377,266
Current assets
Cash at bank and in hand		3,175		3,636
		3,175		3,636
Creditors: amounts falling due within one year	5	( 3,075)		( 2,761)
Net current assets		100		875
Total assets less current liabilities		100		378,141
Creditors: amounts falling due after more than one year	6	0		( 365,404)
Net assets		100		12,737
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		0		12,637
Total shareholders' funds		100		12,737

For the financial period ending 30 September 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Scotwood Properties Ltd. (registered number: SC259147) were approved and authorised for issue by the Director on 28 October 2025. They were signed on its behalf by:

K Blackwood Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Scotwood Properties Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 12 Braemore Wood, Troon, KA10 7FN, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

In 2025 the directors made the decision that the Company would cease trading and that the investment properties would be sold. The sale was finalised in June 2025. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Reporting period length

The accounts have been prepared for the period 1 December 2024 to 30 September 2025 to cover the final period of trade.

Turnover

Rental income is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business and represents rental income received for the investment properties.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

20 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible 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). The recoverable amount of an asset is the higher of its fair value less costs to sell and its 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.

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. 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.

Investment property

Investment property comprises 3 residential properties. The director has agreed that there has been no movement in the fair value of the properties since purchase, this has been based on an open market value by reference to market evidence of transaction prices for similar properties.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include 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
Basic financial liabilities, including loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the 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 business 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.

2. Employees

	Period from 01.12.2024 to 30.09.2025		Year ended 30.11.2024
	Number		Number
Monthly average number of persons employed by the Company during the period, including the director	2		2

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 December 2024	299		299
Disposals	( 299)		( 299)
At 30 September 2025	0		0
Accumulated depreciation
At 01 December 2024	117		117
Charge for the financial period	24		24
Disposals	( 141)		( 141)
At 30 September 2025	0		0
Net book value
At 30 September 2025	0		0
At 30 November 2024	182		182

4. Investment property

	Investment property
	£
Valuation
As at 01 December 2024	377,084
Disposals	(377,084)
As at 30 September 2025	0

5. Creditors: amounts falling due within one year

	30.09.2025		30.11.2024
	£		£
Other creditors	3,075		2,761

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

	30.09.2025		30.11.2024
	£		£
Other creditors	0		365,404

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

	30.09.2025		30.11.2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

8. Related party transactions

Transactions with the entity's director

	30.09.2025		30.11.2024
	£		£
Amounts Owed to Directors	191		191

The amounts owed have no fixed repayment terms. No interest has been charged on the amounts owed.

Other related party transactions

	30.09.2025		30.11.2024
	£		£
Amounts owed to other related parties	0		365,404

The amounts owed have no fixed repayment terms. No interest has been charged on the amounts owed.