Company registration number SC130464 (Scotland)
LONGMORN PROPERTY DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
LONGMORN PROPERTY DEVELOPMENTS LIMITED
Contents
Page
Accountants' report
1
Statement of financial position
2
Notes to the financial statements
3 - 6
LONGMORN PROPERTY DEVELOPMENTS LIMITED
Report To The Directors On The Preparation Of The Unaudited Statutory Accounts Of Longmorn Property Developments Limited
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Longmorn Property Developments Limited for the year ended 31 March 2025 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the b oard of d irectors of Longmorn Property Developments Limited, as a body, in accordance with the terms of our engagement letter dated 28 May 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Longmorn Property Developments Limited and state those matters that we have agreed to state to the b oard of d irectors of Longmorn Property Developments Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Longmorn Property Developments Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Longmorn Property Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Longmorn Property Developments Limited. You consider that Longmorn Property Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Longmorn Property Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

Condie & Co Limited trading as Dains
Chartered Accountants
10 Abbey Park Place
Dunfermline
Fife
KY12 7NZ
20 October 2025
LONGMORN PROPERTY DEVELOPMENTS LIMITED
Statement Of Financial Position
As At 31 March 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment properties
4
469,872
564,872
Current assets
Debtors
5
2,577
1,631
Cash at bank and in hand
476,375
437,885
478,952
439,516
Creditors: amounts falling due within one year
6
(8,234)
(40,708)
Net current assets
470,718
398,808
Total assets less current liabilities
940,590
963,680
Provisions for liabilities
7
-
0
(6,105)
Net assets
940,590
957,575
Capital and reserves
Called up share capital
8
1,000
1,000
Profit and loss reserves
939,590
956,575
Total equity
940,590
957,575

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 20 October 2025 and are signed on its behalf by:
Mrs M MacKay
Director
Company Registration No. SC130464
LONGMORN PROPERTY DEVELOPMENTS LIMITED
Notes To The Financial Statements
For The Year Ended 31 March 2025
- 3 -
1
Accounting policies
Company information

Longmorn Property Developments Limited is a private company limited by shares incorporated in Scotland. The registered office is 3 Lithe Lochan, Longmorn, Elgin, Morayshire, IV30 8SA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
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 a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and 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.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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.

LONGMORN PROPERTY DEVELOPMENTS LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 March 2025
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts 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. A m ounts 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.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

LONGMORN PROPERTY DEVELOPMENTS LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 March 2025
1
Accounting policies
(Continued)
- 5 -
1.8
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
4
Investment property
2025
£
Fair value
At 1 April 2024
564,872
Disposals
(95,000)
At 31 March 2025
469,872

The fair value of the investment propert ies has been arrived at on the basis of a valuation carried out by the directors. The valuation s were made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
851
1,325
Other debtors
306
306
Prepayments and accrued income
1,420
-
0
2,577
1,631
LONGMORN PROPERTY DEVELOPMENTS LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 March 2025
- 6 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
41
1,028
Corporation tax
6,449
38,697
Accruals and deferred income
1,744
983
8,234
40,708
7
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
-
0
6,105
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1,000
1,000
1,000
1,000
9
Profit and loss reserve

This reserve records retained earnings and accumulated losses including surplus/deficit on market value changes of investment properties. At the year end £11,884 (202 4 - £70,828) is non distributable.

10
Operating lease commitments
Lessor

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2025
2024
£
£
2,925
3,285
11
Related party transactions

The company has taken advantage of Section 1AC35 of FRS 102 whereby only material transactions which are not under the normal market conditions need to be disclosed.

12
Controlling party

The company is controlled by Caledonia Property Newco Limited who own 100% of the ordinary share capital of the company. The company is incorporated in Scotland. The company is ultimately controlled by the directors, who hold a majority shareholding in the parent company.

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