ACCOUNTS - Final Accounts preparation

Registered number: SC278953

SPLENDID PROPERTY MANAGEMENT LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

SPLENDID PROPERTY MANAGEMENT LTD

COMPANY INFORMATION

Directors	Mr M P Fitzgerald
	Mr C O Nicol (resigned 4 April 2025)


Registered number	SC278953


Registered office	19 Hope Street
	Edinburgh
	EH2 4EL


Accountants	EQ Accountants Limited
	Chartered Accountants
	14 City Quay
	Dundee
	DD1 3JA

SPLENDID PROPERTY MANAGEMENT LTD

REGISTERED NUMBER: SC278953

STATEMENT OF FINANCIAL POSITION

AS AT 5 APRIL 2025

		2025		2024
		£		£

Fixed assets
Tangible assets	4		1,772		2,226
			1,772		2,226
Current assets
Debtors: amounts falling due within one year	5	326,072		312,653
Cash at bank and in hand		165,982		168,308
		492,054		480,961
Creditors: amounts falling due within one year	6	(45,080)		(118,664)
Net current assets			446,974		362,297
Total assets less current liabilities			448,746		364,523
Provisions for liabilities
Deferred tax		(443)		(557)
			(443)		(557)
Net assets			448,303		363,966

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		448,203	363,866
		448,303	363,966

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SPLENDID PROPERTY MANAGEMENT LTD

REGISTERED NUMBER: SC278953

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 5 APRIL 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 December 2025.

Mr M P Fitzgerald

Director

The notes on pages 3 to 7 form part of these financial statements.

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SPLENDID PROPERTY MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

1.	GENERAL INFORMATION

Splendid Property Management Ltd, is a private company, limited by shares domiciled in Scotland with registration number SC278953. the registered office is 19 Hope Street, Edinburgh, Scotland, DD1 3JA.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

TURNOVER

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.4

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

2.5

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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SPLENDID PROPERTY MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.6

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.7

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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SPLENDID PROPERTY MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.8

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Motor vehicles	-	12.5% reducing balance
Office equipment	-	20% reducing balance
Computer equipment	-	33.33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 4 (2023 - 4)

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SPLENDID PROPERTY MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

4.	TANGIBLE FIXED ASSETS

	Motor vehicles	Office equipment	Total
	£	£	£
Cost or valuation
At 6 April 2024	8,455	7,550	16,005
Additions	-	152	152
At 5 April 2025	8,455	7,702	16,157
Depreciation
At 6 April 2024	8,455	5,324	13,779
Charge for the year on owned assets	-	606	606
At 5 April 2025	8,455	5,930	14,385
Net book value
At 5 April 2025	-	1,772	1,772
At 5 April 2024	-	2,226	2,226

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SPLENDID PROPERTY MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

DEBTORS

					2025	2024
					£	£


Trade debtors	12,854	1,995
Amounts owed by group undertakings	308,381	308,380
Other debtors	3,306	318
Prepayments and accrued income	1,531	1,960
	326,072	312,653

6.	CREDITORS: Amounts falling due within one year
		2025	2024
		£	£

Other taxation and social security	8,097	10,374
Other creditors	33,798	105,135
Accruals and deferred income	3,185	3,155
	45,080	118,664

7.	SHARE CAPITAL
		2025	2024
		£	£

Allotted, called up and fully paid

100 (2024 - 100) Ordinary shares of £1.00 each	100	100

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