P & S Property Developments Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC261613 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

P & S Property Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L Di Resta

SECRETARY:

S S Di Resta

REGISTERED OFFICE:

c/o Cowan & Partners

60 Constitution Street

Edinburgh

MIDLOTHIAN

EH6 6RR

REGISTERED NUMBER:

SC261613 (Scotland)

ACCOUNTANTS:

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

FIXED ASSETS

Tangible assets

4

816,845

817,964

CURRENT ASSETS

Stocks

647,544

Debtors

5

118,877

122,013

Cash at bank

2,530

13,807

768,951

783,364

CREDITORS

Amounts falling due within one year

6

98,680

79,767

NET CURRENT ASSETS

670,271

703,597

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,487,116

1,521,561

CREDITORS

Amounts falling due after more than one year

7

(788,750

)

(827,572

)

PROVISIONS FOR LIABILITIES

(1,743

)

(2,080

)

NET ASSETS

696,623

691,909

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

695,623

690,909

SHAREHOLDERS' FUNDS

696,623

691,909

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 16 December 2025 and were signed by:

L Di Resta - Director

1.	STATUTORY INFORMATION

P & S Property Developments Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures and fittings - 25% RB

Plant and machinery - 25% RB

Computers - 33.3% SL

No depreciation has been provided on the property as it has been deemed to have retained its current value.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

machinery

£

COST

At 1 April 2024

724,150

85,493

10,573

Additions

-

230

-

At 31 March 2025

724,150

85,723

10,573

DEPRECIATION

At 1 April 2024

-

2,922

Charge for year

-

1,913

At 31 March 2025

-

4,835

NET BOOK VALUE

At 31 March 2025

724,150

85,723

5,738

At 31 March 2024

724,150

85,493

7,651

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 April 2024

15,662

4,809

840,687

Additions

975

-

1,205

At 31 March 2025

16,637

4,809

841,892

DEPRECIATION

At 1 April 2024

14,992

4,809

22,723

Charge for year

411

-

2,324

At 31 March 2025

15,403

4,809

25,047

NET BOOK VALUE

At 31 March 2025

1,234

-

816,845

At 31 March 2024

670

-

817,964

No indicators of impairment were noted during the year.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

-

1,156

Other debtors

118,877

120,857

118,877

122,013

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade creditors

39,837

40,969

Taxation and social security

15,091

32,920

Other creditors

43,752

5,878

98,680

79,767

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

Other creditors

788,750

827,572

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

Bank loan

6,369

17,993

A floating charge over all the properties of the company was taken out in favour of the Royal Bank of Scotland.on 4th December, 2018.

A floating charge over all the properties and assets of the company was taken out in favour of the AIB Group (UK) PLC on 16th April, 2007.

A Standard Security over the properties of the company was taken out in favour of the Clydesdale Bank Public Limited Company on 25th March, 2004.

A floating charge over all the properties and assets of the company was taken out in favour of the Clydesdale Bank Limited Company on 29th January, 2004.