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REGISTERED NUMBER: SC231996 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Flat Homes Limited

| Flat Homes Limited (Registered number: SC231996) |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Flat Homes Limited |

Company Information

for the Year Ended 31 March 2025

| DIRECTOR: | B R Linton

| REGISTERED OFFICE: | Bannerman House

| 27 South Tay Street

| Dundee

| DD1 1NR

| REGISTERED NUMBER: | SC231996 (Scotland)

| ACCOUNTANTS: | Winton & Co

| 16 Hamilton Street

| Broughty Ferry

| Dundee

| DD5 2NR

| Flat Homes Limited (Registered number: SC231996) |

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 505,000 |  | 505,000 |  |

CURRENT ASSETS

Debtors | 6 | 214,491 |  | 242,977 |  |

Cash at bank | 1,775 |  | 11,118 |  |

216,266 |  | 254,095 |  |

CREDITORS

Amounts falling due within one year | 7 | 218,110 |  | 217,030 |  |

NET CURRENT (LIABILITIES)/ASSETS | (1,844 | ) | 37,065 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 503,156 |  | 542,065 |  |

PROVISIONS FOR LIABILITIES | 43,490 |  | 43,490 |  |

NET ASSETS | 459,666 |  | 498,575 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 459,566 |  | 498,475 |  |

SHAREHOLDERS' FUNDS | 459,666 |  | 498,575 |  |

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 director acknowledges his 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 director and authorised for issue on 4 November 2025 and were signed by:

B R Linton - Director

| Flat Homes Limited (Registered number: SC231996) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Flat Homes 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. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| Turnover

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

| Tangible assets

| Tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reverses in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit and loss.

| Financial instruments

| A financial asset or a financial liability is recognised only when the company 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 financial 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.

| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

| For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

| 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.

| Flat Homes Limited (Registered number: SC231996) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

3. | ACCOUNTING POLICIES - continued

| 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.

| Debtors

| Trade and other debtors are recognised at the settlement amount due after any discount offered.

| Prepayments are valued at the amount prepaid after taking account of any discounts due.

| Creditors

| Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2024 - NIL).

5. | TANGIBLE FIXED ASSETS

| Land and

| buildings

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 505,000 |  |

| NET BOOK VALUE

| At 31 March 2025 | 505,000 |  |

| At 31 March 2024 | 505,000 |  |

| Investment property was valued for bank loan purposes at £505,000 on an open market basis on 22 February 2018 by D M Hall in accordance with the requirements of RICS valuation standards. The director considers this to be equivalent to the valuation at the balance sheet date.

| The historical cost of investment property is £179,512 (2024 - £179,512).

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade debtors | 1,644 |  | - |  |

| Other debtors | 212,847 |  | 242,977 |  |

214,491 |  | 242,977 |  |

| Flat Homes Limited (Registered number: SC231996) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade creditors | 10,100 |  | 216 |  |

| Other creditors | 208,010 |  | 216,814 |  |

218,110 |  | 217,030 |  |

8. | ULTIMATE CONTROLLING PARTY

| The controlling party is SAHL 2005 Discretionary Trust.