REGISTERED NUMBER: SC432472 (Scotland)

Financial Statements

for the Year Ended 31 March 2025

for

The Rasul Property Co. Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M H Rasul

A Rasul

Mrs S B Rasul

REGISTERED OFFICE:

19 Roddinghead Road

Giffnock

Glasgow

G46 6TR

REGISTERED NUMBER:

SC432472 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Property, plant and equipment

3

1,176,588

1,278,299

Investment property

4

3,795,738

3,795,738

4,972,326

5,074,037

CURRENT ASSETS

Debtors

5

588,588

524,171

Cash at bank and in hand

93,015

85,980

681,603

610,151

CREDITORS

Amounts falling due within one year

6

939,243

587,453

NET CURRENT (LIABILITIES)/ASSETS

(257,640

)

22,698

TOTAL ASSETS LESS CURRENT LIABILITIES

4,714,686

5,096,735

CREDITORS

Amounts falling due after more than one year

7

(3,981,129

)

(4,350,166

)

PROVISIONS FOR LIABILITIES

(138,501

)

(141,863

)

NET ASSETS

595,056

604,706

CAPITAL AND RESERVES

Called up share capital

151

151

Investment property reserve

345,285

345,285

Retained earnings

249,620

259,270

SHAREHOLDERS' FUNDS

595,056

604,706

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 directors acknowledge their 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 Board of Directors and authorised for issue on 11 November 2025 and were signed on its behalf by:

A Rasul - Director

1.	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 as modified by the revaluation of certain assets.

Going concern

The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue

Revenue is recognised in the period in which the rental invoice relates to and is shown after the deduction of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property

-

not provided

Plant and machinery

-

5% on cost

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

3.	PROPERTY, PLANT AND EQUIPMENT

Improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 April 2024

56,164

2,004,808

10,241

2,071,213

Additions

-

-

235

235

Disposals

-

-

(638

)

(638

)

At 31 March 2025

56,164

2,004,808

9,838

2,070,810

DEPRECIATION

At 1 April 2024

-

784,817

8,097

792,914

Charge for year

-

100,241

1,705

101,946

Eliminated on disposal

-

-

(638

)

(638

)

At 31 March 2025

-

885,058

9,164

894,222

NET BOOK VALUE

At 31 March 2025

56,164

1,119,750

674

1,176,588

At 31 March 2024

56,164

1,219,991

2,144

1,278,299

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

3,795,738

NET BOOK VALUE

At 31 March 2025

3,795,738

At 31 March 2024

3,795,738

Fair value at 31 March 2025 is represented by:

£

Valuation in 2019

(676,486

)

Valuation in 2020

(704,322

)

Valuation in 2021

357,738

Cost

4,818,808

3,795,738

Investment property was valued on an open market basis on 31 March 2025 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

570,433

488,362

Other debtors

18,155

35,809

588,588

524,171

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

335,480

124,569

Trade creditors

50,390

69,840

Taxation and social security

16,092

38,368

Other creditors

537,281

354,676

939,243

587,453

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

304,338

Other creditors

3,981,129

4,045,828

3,981,129

4,350,166

8.	SECURED DEBTS

The company has bank loans secured on various investment properties, which currently have a fair value of £3,795,738 (2024: £3,795,738). The loans are instantly repayable in the event of default on any payment of interest or principal, and in that case the lender has a claim over the assets specified, to the extent necessary to settle the outstanding value of the debt.