Park Gate Property Limited Company accounts

COMPANY REGISTRATION NUMBER: SC258064

Park Gate Property Limited

Unaudited Financial Statements

For the year ended

31 March 2025

Park Gate Property Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Directors' report	1

Statement of income and retained earnings	2

Statement of financial position	3

Notes to the financial statements	4

Park Gate Property Limited

Directors' Report

Year ended 31 March 2025

The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2025 .

Directors

The directors who served the company during the year were as follows:

Mr D Cross
Mrs E Cross

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 17 December 2025 and signed on behalf of the board by:

Mr D Cross

Director

Registered office:

28 Queen Street

Castle Douglas

Kirkcudbrightshire

DG7 1HS

Park Gate Property Limited

Statement of Income and Retained Earnings

Year ended 31 March 2025

	2025	2024
Note	£	£
Turnover	6,013	6,000

Cost of sales	934	1,425
	-------	-------
Gross profit	5,079	4,575

Administrative expenses	5,133	4,575
	-------	-------
Operating loss	( 54)	–

	-------	-------
Loss before taxation	( 54)	–

Tax on loss	–	–
	----	----
Loss for the financial year and total comprehensive income	( 54)	–
	----	----

Retained earnings at the start of the year	5,745	5,745
	-------	-------
Retained earnings at the end of the year	5,691	5,745
	-------	-------

All the activities of the company are from continuing operations.

Park Gate Property Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	50,000	50,000
Investments	6	13,750	13,750
		--------	--------
		63,750	63,750

Current assets

Debtors	7	–	52
Cash at bank and in hand		121	134
		----	----
		121	186

Creditors: amounts falling due within one year	8	44,430	44,441
		--------	--------
Net current liabilities		44,309	44,255
		--------	--------
Total assets less current liabilities		19,441	19,495
		--------	--------
Net assets		19,441	19,495
		--------	--------

Capital and reserves

Called up share capital	13,750	13,750
Profit and loss account	5,691	5,745
	--------	--------
Shareholders funds	19,441	19,495
	--------	--------

These financial statements have been prepared 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'.

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 were approved by the board of directors and authorised for issue on 17 December 2025 , and are signed on behalf of the board by:

Mr D Cross

Director

Company registration number: SC258064

Park Gate Property Limited

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 28 Queen Street, Castle Douglas, Kirkcudbrightshire, DG7 1HS.

2. Statement of compliance

These 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'.

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.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

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.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Land and buildings
	£
Cost
At 1 April 2024 and 31 March 2025	50,000
	--------
Depreciation
At 1 April 2024 and 31 March 2025	–
	--------
Carrying amount
At 31 March 2025	50,000
	--------
At 31 March 2024	50,000
	--------

Tangible assets held at valuation

The Freehold Properties were revalued in the year to 31 March 2017 by Graham & Sibbald, Chartered Surveyors. If the properties were sold at their current valuation tax of £nil would be payable.

6. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	13,750
	--------
Impairment
At 1 April 2024 and 31 March 2025	–
	--------

Carrying amount
At 31 March 2025	13,750
	--------
At 31 March 2024	13,750
	--------

7. Debtors

	2025	2024
	£	£
Other debtors	–	52
	----	----

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	43,258	43,741
Corporation tax	28	28
Other creditors	1,144	672
	--------	--------
	44,430	44,441
	--------	--------

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	Balance outstanding
	£	£	£
Mr D Cross	52	( 546)	( 494)
	----	----	----

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr D Cross	693	( 641)	52
	----	----	----

10. Related party transactions

There were no transactions with related parties in the year that are required to be disclosed under the terms of FRS 102 Section 1A.