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 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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.

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

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

Gendisot Limited is a private company limited by shares incorporated in Scotland. The registered office is Whitehall House, 33 Yeaman Shore, Dundee, DD1 4BJ.

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

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

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

The turnover shown in the profit and loss account represents property rental income received or receivable.

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

In addition to the amount charged to the income statement, the following amounts relating to tax have been recognised directly in other comprehensive income:

All of the properties held at the time were revalued by the director as at March 2019. The valuations were prepared on an open market basis assuming vacant possession, by the director, with assistance from someone with experience of the local residential property and lettings market. The surplus arising on this revaluation was credited to a revaluation reserve.

The bank borrowings are secured by a bond and floating charge covering all the property of the company.

The above bank loan is repayable by equal instalments and interest is charged at bank variable rate. The loan is secured by fixed charges over the properties and a floating charge over all the assets of the company.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

The company was under the control of its director and 50% shareholder, Mr D.W. Anderson, throughout the current and previous year. During the year dividends totalling £4,000 (2024 - £4,000) were declared to the shareholders.

During the year the director advanced loan funds to the company. At the year end, the company was due to pay the director £400,555.01 (2024 - £416,748). The balance due to the director has no set terms of repayment and no interest is being charged, and it is disclosed in Other creditors within Creditors: Amounts falling due within one year.

During the year the company received consultancy income, £24,000 (2024: £59,000) from a company with a common director and shareholder. An amount of £2,000 (2024: £nil) was still due from them at the year end which is included in trade debtors.

In previous years, the company was advanced loan funds by other related parties. At the year end, the company was due to pay a net amount of £10,000 (2024 - £10,000) to other related parties.