Fife Properties Ltd 31/03/2025 iXBRL

Company registration number: SC301960

Fife Properties Ltd

Unaudited filleted abridged financial statements

31 March 2025

Fife Properties Ltd

Contents

Directors and other information

Accountants report

Abridged statement of financial position

Notes to the financial statements

Fife Properties Ltd

Directors and other information


	Directors	James Parker
		Richard Cook


	Secretary	James Parker


	Company number	SC301960


	Registered office	Caledonian House
		Links Road
		Leven
		Fife
		KY8 4HS


	Accountants	Paterson Boyd & Co
		Chartered Certified Accountants
		8 Mitchell Street
		Leven
		Fife
		KY8 4HJ




	Bankers	Bank of Scotland
		60 High Street
		Leven
		Fife
		KY8 4NA

Fife Properties Ltd

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Fife Properties Ltd

Year ended 31 March 2025

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

As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the board of directors of Fife Properties Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Fife Properties Ltd and state those matters that we have agreed to state to the board of directors of Fife Properties Ltd as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fife Properties Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Fife Properties Ltd 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 profit of Fife Properties Ltd. You consider that Fife Properties Ltd 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 Fife Properties Ltd. 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 financial statements.

Paterson Boyd & Co

Chartered Certified Accountants

8 Mitchell Street

Leven

Fife

KY8 4HJ

10 December 2025

Fife Properties Ltd

Abridged statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	6	21,900		24,933
		_______		_______
			21,900		24,933

Current assets
Debtors		320,999		335,646
Cash at bank and in hand		78,054		90,982
		_______		_______
		399,053		426,628
Creditors: amounts falling due
within one year		( 291,793)		( 288,110)
		_______		_______
Net current assets			107,260		138,518
			_______		_______
Total assets less current liabilities			129,160		163,451

Creditors: amounts falling due
after more than one year			( 22,974)		( 29,322)
			_______		_______
Net assets			106,186		134,129
			_______		_______

Capital and reserves
Called up share capital	8		1,000		1,000
Share premium account			98,250		98,250
Profit and loss account			6,936		34,879
			_______		_______
Shareholders funds			106,186		134,129
			_______		_______

For the year ending 31 March 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 year in question in accordance with section 476;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 10 December 2025 , and are signed on behalf of the board by:

James Parker

Director

Company registration number: SC301960

Fife Properties Ltd

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Caledonian House, Links Road, Leven, Fife, KY8 4HS.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2024: 9 ).

5. Directors remuneration

The directors aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	12,570	12,570
	_______	_______

6. Tangible assets


		£
	Cost
	At 1 April 2024	113,678
	Additions	6,977
	Disposals	( 51,177)
		_______
	At 31 March 2025	69,478
		_______
	Depreciation
	At 1 April 2024	88,745
	Charge for the year	9,323
	Disposals	( 50,490)
		_______
	At 31 March 2025	47,578
		_______
	Carrying amount
	At 31 March 2025	21,900
		_______
	At 31 March 2024	24,933
		_______

7. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2025	2024
	£	£
Financial assets that are debt instruments measured at amortised cost
Trade debtors	600	1,143
Prepayments	9,764	9,115
Cash at bank and in hand	78,053	90,981
Amounts due from connected companies	310,635	325,388
	_______	_______
	399,052	426,627
	_______	_______

Financial liabilities measured at amortised cost
Bank and other loans	5,674	5,000
Trade creditors	17,441	36,065
Other creditors	128,677	161,752
Taxes and social security	34,758	54,862
Accruals	5,243	30,431
	_______	_______
	191,793	288,110
	_______	_______

8. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares shares of £ 1.00 each	1,000	1,000	1,000	1,000
	_______	_______	_______	_______

9. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	James Parker	( 299)	733	( 448)	( 14)
	Richard Cook	( 8,000)	( 5,000)	8,000	( 5,000)
		_______	_______	_______	_______
		( 8,299)	( 4,267)	7,552	( 5,014)
		_______	_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	James Parker	( 554)	255	-	( 299)
	Richard Cook	( 10,000)	( 8,000)	10,000	( 8,000)
		_______	_______	_______	_______
		( 10,554)	( 7,745)	10,000	( 8,299)
		_______	_______	_______	_______

10. Related party transactions

For the whole of the financial year the company was under the control of its director James Parker .The sole shareholder of the company is Parker Housing Ltd. At the balance sheet date, the company was due £221,987 (2024: £151,987) to Parker Housing Ltd. During the year the company declared a dividend of £95,000 (2024: £152,000) to Parker Housing Ltd.Elaine Parker, wife of James Parker , is the sole proprietor of Elaine Parker t/a Parker Housing. During the year the company was due to repay £1,038 (2024: £1,038) in repaid expenditure on the companies' behalf to Parker Housing. James Parker and Richard Cook are the sole directors of Tigger & Timmy Ltd. During the year the company charged Tigger & Timmy Limited management charges of £278,201 (2024: £325.037). Fife Properties also paid £434 (2024: £338) in expenses on behalf of Tigger & Timmy Ltd in the year. At the balance sheet date the company was due the sum of £278,635 (2024: £325,375) from Tigger & Timmy Ltd. James Parker is also the sole shareholder and director of Jess and Jinx Ltd. During the year £50,000 (2024: nil) was loaned to Jess and Jinx Ltd, and £18,000 (2024: nil) was also repaid to Fife Properties Ltd . At the balance sheet date Fife Properties was owed £32,000 (2024: nil) from Jess and Jinx Ltd.