Grampian Independent Properties Ltd. - Accounts to registrar (filleted)

REGISTERED NUMBER: SC261040 (Scotland)

Grampian Independent Properties Ltd.

Financial Statements For The Year Ended 31 May 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G Alexander

Mr K Parrott

SECRETARY:

Mr G Alexander

REGISTERED OFFICE:

52 High Street

Elgin

Moray

IV30 1BU

REGISTERED NUMBER:

SC261040 (Scotland)

ACCOUNTANTS:

The Long Partnership

4 North Guildry Street

Elgin

Moray

IV30 1JR

BANKERS:

Royal Bank of Scotland

Elgin Branch

209 High Street

Elgin

Moray

IV30 1DL

FIXED ASSETS

Tangible assets

4

8,029

11,763

CURRENT ASSETS

Debtors

5

88,580

46,335

Cash at bank and in hand

168,343

120,843

256,923

167,178

CREDITORS

Amounts falling due within one year

6

106,884

66,723

NET CURRENT ASSETS

150,039

100,455

TOTAL ASSETS LESS CURRENT
LIABILITIES

158,068

112,218

PROVISIONS FOR LIABILITIES

7

1,960

2,722

NET ASSETS

156,108

109,496

CAPITAL AND RESERVES

Called up share capital

8

1,500

Retained earnings

9

154,608

107,996

SHAREHOLDERS' FUNDS

156,108

109,496

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 13 November 2025 and were signed on its behalf by:

Mr G Alexander - Director

1.	STATUTORY INFORMATION

Grampian Independent Properties Ltd. 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.

Tangible fixed assets

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

Land and buildings

-

in accordance with the property

Equipment

-

33% on cost and 25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Short

Motor

Computer

leasehold

Equipment

vehicles

equipment

Totals

£

COST

At 1 June 2024

11,748

5,901

27,600

29,209

74,458

Additions

-

3,573

-

3,573

At 31 May 2025

11,748

9,474

27,600

29,209

78,031

DEPRECIATION

At 1 June 2024

11,748

5,295

22,065

23,587

62,695

Charge for year

-

301

1,384

5,622

7,307

At 31 May 2025

11,748

5,596

23,449

29,209

70,002

NET BOOK VALUE

At 31 May 2025

-

3,878

4,151

-

8,029

At 31 May 2024

-

606

5,535

5,622

11,763

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

Trade debtors

75,194

42,713

Other debtors

13,386

3,622

88,580

46,335

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

Trade creditors

8,513

30,289

Taxation and social security

78,384

33,445

Other creditors

19,987

2,989

106,884

66,723

7.	PROVISIONS FOR LIABILITIES

31.5.25

31.5.24

£

Deferred tax

1,960

2,722

Deferred

tax

£

Balance at 1 June 2024

2,722

Provided during year

(762

)

Balance at 31 May 2025

1,960

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal Value:

31.5.25

31.5.24

600

Ordinary

1

600

150

Ordinary A

1

150

375

Ordinary B

1

375

Ordinary C

1

375

1,500

9.

RESERVES

Retained

earnings

£

At 1 June 2024

107,996

Profit for the year

141,612

Dividends

(95,000

)

At 31 May 2025

154,608

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £60,000 (2024 - £65,800) were paid to the directors .

At 1 June 2024, the company owed one of the directors £258. During the year the company paid expenses totalling £40 on behalf of the director. At 31 May 2025 the company owed the director £218.

At 1 June 2024, the company owed one of the directors £436. During the year the company paid expenses totalling £240 on behalf of the director. At 31 May 2025 the company owed the director £196.