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Company No: SC269751 (Scotland)

# G & SR PROPERTIES LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH THE REGISTRAR

G & SR PROPERTIES LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2025

Contents

G & SR PROPERTIES LIMITED

## BALANCE SHEET

AS AT 30 JUNE 2025
G & SR PROPERTIES LIMITED

## BALANCE SHEET (continued)

AS AT 30 JUNE 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investment property | 3 | 359,760 |  | 359,760
|  | 359,760 |  | 359,760
Current assets |  |  |  |
Debtors | 4 | 1,086 |  | 0
Cash at bank and in hand |  | 12,048 |  | 13,669
|  | 13,134 |  | 13,669
Creditors: amounts falling due within one year | 5 | ( 136,291) |  | ( 129,196)
Net current liabilities |  | (123,157) |  | (115,527)
Total assets less current liabilities |  | 236,603 |  | 244,233
Creditors: amounts falling due after more than one year | 6 | ( 8,334) |  | ( 18,333)
Net assets |  | 228,269 |  | 225,900
Capital and reserves |  |  |  |
Called-up share capital | 7 | 100 |  | 100
Profit and loss account |  | 228,169 |  | 225,800
Total shareholders' funds |  | 228,269 |  | 225,900

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

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; 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 G & SR Properties Limited (registered number: SC269751) were approved and authorised for issue by the Board of Directors on 23 October 2025. They were signed on its behalf by:

Ghulam Rasul Director |  | Sharifan Rasul Director

G & SR PROPERTIES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2025
G & SR PROPERTIES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2025

##### 1. Accounting policies

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

##### General information and basis of accounting

G & SR Properties Limited (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 C/O Johnston Carmichael Bishop's Court, 29 Albyn Place, Aberdeen, AB10 1YL, 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

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received for property rental provided in the normal course of business, and is shown net of VAT.

##### Taxation

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

##### 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.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the directors, on an open market value for existing use basis.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

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

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Investment property

| Investment property
| £
Valuation |
As at 01 July 2024 | 359,760
As at 30 June 2025 | 359,760

Valuation

The directors consider the current carrying value of the property to accurately reflect the open market value as at 30 June 2025.

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Other debtors | 1,086 |  | 0

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 10,000 |  | 10,000
Amounts owed to related parties | 117,058 |  | 110,034
Other taxation and social security | 508 |  | 600
Other creditors | 8,725 |  | 8,562
| 136,291 |  | 129,196

The above bank loan is a Bounce Back Loan and is 100% guaranteed by the UK Government. It remains unsecured over the assets of the company.

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

| 2025 |  | 2024
| £ |  | £
Bank loans | 8,334 |  | 18,333

The above bank loan is a Bounce Back Loan and is 100% guaranteed by the UK Government. It remains unsecured over the assets of the company.

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
26 Ordinary shares of £ 1.00 each | 26 |  | 26
25 A Ordinary shares of £ 1.00 each | 25 |  | 25
10 B Ordinary shares of £ 1.00 each | 10 |  | 10
10 C Ordinary shares of £ 1.00 each | 10 |  | 10
10 D Ordinary shares of £ 1.00 each | 10 |  | 10
19 E Ordinary shares of £ 1.00 each | 19 |  | 19
| 100 |  | 100

#### 8. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Key management personnel | 6,077 |  | 6,077

This balance is interest free and has no fixed terms of repayment.

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Other related party | 117,058 |  | 110,034

This balance is interest free and has no fixed terms of repayment.