Company Registration No. SC625304 (Scotland)
Maki Property Ltd
Unaudited accounts
for the year ended 30 June 2025
Maki Property Ltd
Unaudited accounts
Contents
Maki Property Ltd
Company Information
for the year ended 30 June 2025
Company Number
SC625304 (Scotland)
Registered Office
36/8 Grindlay Street
Edinburgh
Scotland
EH3 9AP
Maki Property Ltd
Statement of financial position
as at 30 June 2025
Intangible assets
175,515
119,329
Tangible assets
26,446
35,261
Investment property
290,000
290,678
Cash at bank and in hand
309,771
47,002
Creditors: amounts falling due within one year
(1,169,895)
(216,395)
Net current assets
684,555
368,811
Total assets less current liabilities
1,176,516
814,079
Creditors: amounts falling due after more than one year
(386,624)
(439,791)
Net assets
789,892
374,288
Called up share capital
1
1
Profit and loss account
789,891
374,287
Shareholders' funds
789,892
374,288
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 September 2025 and were signed on its behalf by
Ho Yin Lee
Director
Company Registration No. SC625304
Maki Property Ltd
Notes to the Accounts
for the year ended 30 June 2025
Maki Property Ltd is a private company, limited by shares, registered in Scotland, registration number SC625304. The registered office is 36/8 Grindlay Street, Edinburgh, Scotland, EH3 9AP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Intangible fixed assets (including purchased goodwill and leasehold rights) are included at cost less accumulated amortisation.
Leasehold rights represent lease premiums and directly attributable acquisition costs, including Land and Buildings Transaction Tax and solicitor fees, incurred in securing leasehold property for the company’s business activities.
Where the lease has a fixed term, these amounts are amortised on a straight-line basis over the period of the lease.
Where the lease is of an indefinite/rolling nature, the asset is considered to have an indefinite useful life and is not amortised, but is reviewed annually for impairment.
During the year, certain costs previously included in tangible fixed assets (Land and Buildings) have been reclassified to intangible fixed assets to reflect their nature as leasehold rights. The effect of this reclassification was to decrease tangible fixed assets at 1 July 2024 by £119,836 and to increase intangible assets by the same amount. There was no impact on net assets or profit for the year.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
Reduced Balance 25%
Investment properties are measured at fair value at each reporting date, with changes in fair value recognised in the income statement in accordance with FRS 102 Section 16.
Fair values are determined annually by the directors based on market evidence. The company uses publicly available property market information (including Zoopla estimated market values and other comparable listings) as the primary source of valuation data. Where necessary, these estimates are corroborated with local market knowledge and other third-party information.
No depreciation is charged on investment property.
Maki Property Ltd
Notes to the Accounts
for the year ended 30 June 2025
4
Intangible fixed assets
Goodwill
Other
Total
At 1 July 2024
80,887
119,836
200,723
Additions
100,000
-
100,000
Disposals
-
(14,243)
(14,243)
At 30 June 2025
180,887
105,593
286,480
At 1 July 2024
48,531
32,863
81,394
Charge for the year
20,150
9,421
29,571
At 30 June 2025
68,681
42,284
110,965
At 30 June 2025
112,206
63,309
175,515
At 30 June 2024
32,356
86,973
119,329
The category “Other” within intangible fixed assets represents leasehold rights, being lease premiums and directly attributable acquisition costs (including Land and Buildings Transaction Tax and solicitor fees). These amounts are amortised on a straight-line basis over the lease term, or, where the lease is of an indefinite/rolling nature, are treated as having an indefinite useful life and reviewed annually for impairment.
Maki Property Ltd
Notes to the Accounts
for the year ended 30 June 2025
5
Tangible fixed assets
Motor vehicles
During the year, amounts previously shown under Land & Buildings (£119,836 at 1 July 2024, with accumulated depreciation of £32,863) were reclassified to intangible assets as leasehold rights. The company does not own the freehold property, and therefore presentation as an intangible asset is considered more appropriate. This reclassification had no impact on net assets or profit.
Fair value at 1 July 2024
290,678
Net loss from fair value adjustments
(678)
The directors consider that the use of Zoopla and other publicly available market information provides a reliable measure of fair value without undue cost or effort. The directors are satisfied that this basis is appropriate for the company’s circumstances.
The company has chosen the fair value model for investment property under FRS 102 Section 16.
The fair value loss of £678 has been recognised in the income statement in accordance with FRS 102 Section 16.
This adjustment does not impact the company’s taxable profit, as movements in investment property fair value are not subject to corporation tax until disposal.
Amounts falling due within one year
Amounts falling due after more than one year
Other debtors
1,544,679
185,117
Maki Property Ltd
Notes to the Accounts
for the year ended 30 June 2025
8
Creditors: amounts falling due within one year
2025
2024
Taxes and social security
162,770
80,683
9
Creditors: amounts falling due after more than one year
2025
2024
Other creditors
386,624
439,791
10
Average number of employees
During the year the average number of employees was 0 (2024: 0).
11
Reconciliations on adoption of FRS 102