REGISTERED NUMBER: SC751388 (Scotland)

Unaudited Financial Statements

For The Period 1 December 2023 to 28 February 2025

for

Kelly Bros Property Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Kelly

B A Kelly

REGISTERED OFFICE:

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

REGISTERED NUMBER:

SC751388 (Scotland)

ACCOUNTANTS:

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

FIXED ASSETS

Tangible assets

4

-

91,801

CURRENT ASSETS

Cash at bank

65,805

28,797

CREDITORS

Amounts falling due within one year

5

85,388

1,500

NET CURRENT (LIABILITIES)/ASSETS

(19,583

)

27,297

TOTAL ASSETS LESS CURRENT LIABILITIES

(19,583

)

119,098

CREDITORS

Amounts falling due after more than one year

6

-

131,444

NET LIABILITIES

(19,583

)

(12,346

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(19,585

)

(12,348

)

SHAREHOLDERS' FUNDS

(19,583

)

(12,346

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 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 5 November 2025 and were signed on its behalf by:

D Kelly - Director

1.	STATUTORY INFORMATION

Kelly Bros Property 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.

The company is dependant on continuing support from its Director's David Kelly and Bryan Kelly and other lenders. The director is committed to continue to provide financial support for the foreseeable future. Accordingly the financial statements has been prepared on a going concern basis.

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 fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

2% on cost

Improvements to property

-

2% on cost

Fixtures and fittings

-

15% on reducing balance

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances

Cash and bank balances are measured at the transaction price.

Taxation

Taxation for the period 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 period 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 period was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

property

fittings

Totals

£

£

£

£

COST

At 1 December 2023

73,054

16,160

4,952

94,166

Disposals

(73,054

)

(16,160

)

(4,952

)

(94,166

)

At 28 February 2025

-

-

-

-

DEPRECIATION

At 1 December 2023

1,299

323

743

2,365

Eliminated on disposal

(1,299

)

(323

)

(743

)

(2,365

)

At 28 February 2025

-

-

-

-

NET BOOK VALUE

At 28 February 2025

-

-

-

-

At 30 November 2023

71,755

15,837

4,209

91,801

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

30.11.23

£

£

Other creditors

85,388

1,500

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

30.11.23

£

£

Bank loans

-

49,180

Other creditors

-

82,264

-

131,444

7.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

30.11.23

£

£

Bank loans

-

49,180

Together Commercial Finance Limited holds a standard security over the company's freehold property (forming the southmost house on the first floor above the ground floor of tenement 333 main street, alexandria, G83 0BP) and a floating charge over the whole assets of the company.