REGISTERED NUMBER: SC602048 (Scotland)

Unaudited Financial Statements for the Year Ended 31 July 2025

for

LETTS & CO. PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms S E Richardson

REGISTERED OFFICE:

32 King Street

Aberdeen

AB24 5AX

REGISTERED NUMBER:

SC602048 (Scotland)

ACCOUNTANTS:

Fyfe Moir & Associates

1st Floor, 5 Abercrombie Crt

Prospect Road,

Westhill

Aberdeenshire

Grampian

AB32 6FE

FIXED ASSETS

Intangible assets

4

20,265

27,165

Tangible assets

5

14,431

10,336

34,696

37,501

CURRENT ASSETS

Debtors

6

56,608

53,578

Cash at bank

86,489

89,016

143,097

142,594

CREDITORS

Amounts falling due within one year

7

117,205

124,302

NET CURRENT ASSETS

25,892

18,292

TOTAL ASSETS LESS CURRENT LIABILITIES

60,588

55,793

CREDITORS

Amounts falling due after more than one year

8

(1,303

)

-

PROVISIONS FOR LIABILITIES

9

(2,435

)

(1,336

)

NET ASSETS

56,850

54,457

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

56,849

54,456

SHAREHOLDERS' FUNDS

56,850

54,457

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 10 November 2025 and were signed by:

Ms S E Richardson - Director

1.	STATUTORY INFORMATION

Letts & Co. Properties 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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Improvements to property

-

25% on cost

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2024

and 31 July 2025

69,000

AMORTISATION

At 1 August 2024

41,835

Amortisation for year

6,900

At 31 July 2025

48,735

NET BOOK VALUE

At 31 July 2025

20,265

At 31 July 2024

27,165

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 August 2024

1,761

1,388

7,857

Additions

-

133

6,086

At 31 July 2025

1,761

1,521

13,943

DEPRECIATION

At 1 August 2024

1,664

704

4,067

Charge for year

97

381

1,539

At 31 July 2025

1,761

1,085

5,606

NET BOOK VALUE

At 31 July 2025

-

436

8,337

At 31 July 2024

97

684

3,790

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 August 2024

5,650

7,030

23,686

Additions

-

2,277

8,496

At 31 July 2025

5,650

9,307

32,182

DEPRECIATION

At 1 August 2024

1,225

5,690

13,350

Charge for year

1,130

1,254

4,401

At 31 July 2025

2,355

6,944

17,751

NET BOOK VALUE

At 31 July 2025

3,295

2,363

14,431

At 31 July 2024

4,425

1,340

10,336

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Trade debtors

3,007

-

Other debtors

26,068

28,538

Intercompany Loan Account

24,916

22,380

Prepayments and accrued income

2,617

2,660

56,608

53,578

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

£

Hire purchase contracts

1,304

-

Trade creditors

1

181

Tax

10,133

14,001

Social security and other taxes

749

-

VAT

11,853

10,318

Other creditors

358

253

Intercompany - Asset Transfer

89,000

89,000

Directors' current accounts

2,977

9,755

Accrued expenses

830

794

117,205

124,302

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.25

31.7.24

£

£

Hire purchase contracts

1,303

-

9.	PROVISIONS FOR LIABILITIES

31.7.25

31.7.24

£

£

Deferred tax

2,435

1,336

Deferred

tax

£

Balance at 1 August 2024

1,336

Movement in year

1,099

Balance at 31 July 2025

2,435