REGISTERED NUMBER: SC533246 (Scotland)

Unaudited Financial Statements for the Year Ended 30 April 2025

for

KARE PROPERTIES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

A Simpson

C Simpson

REGISTERED OFFICE:

29 Brandon Street

Hamilton

ML3 6DA

REGISTERED NUMBER:

SC533246 (Scotland)

ACCOUNTANTS:

Sharles Ltd

Chartered Accountants

29 Brandon Street

Hamilton

ML3 6DA

BANKERS:

Bank of Scotland

PO Box 17235

Edinburgh

EH11 1YH

FIXED ASSETS

Tangible assets

5

4,019

12,005

Investment property

6

550,000

509,000

554,019

521,005

CURRENT ASSETS

Cash at bank

134,738

128,050

CREDITORS

Amounts falling due within one year

7

662,341

662,209

NET CURRENT LIABILITIES

(527,603

)

(534,159

)

TOTAL ASSETS LESS CURRENT LIABILITIES

26,416

(13,154

)

PROVISIONS FOR LIABILITIES

10,789

1,939

NET ASSETS/(LIABILITIES)

15,627

(15,093

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

15,527

(15,193

)

SHAREHOLDERS' FUNDS

15,627

(15,093

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 29 December 2025 and were signed on its behalf by:

A Simpson - Director

1.	STATUTORY INFORMATION

Kare Properties Ltd 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.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis.

Turnover and revenue recognition

Turnover is derived from the rental income on properties owned by the company.

Turnover therefore represents rental income receivable and is recognised at the point that the company obtains the right to consideration.

Tangible fixed assets

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

Plant and machinery etc

-

Straight line over 4 years

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Investment property

Investment property is stated at its most recent valuation. Any surplus or deficit arising from changes in the fair value is recognised in the income statement.

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.

4.	EMPLOYEES AND DIRECTORS

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

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2024

and 30 April 2025

39,285

DEPRECIATION

At 1 May 2024

27,280

Charge for year

7,986

At 30 April 2025

35,266

NET BOOK VALUE

At 30 April 2025

4,019

At 30 April 2024

12,005

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2024

509,000

Revaluations

41,000

At 30 April 2025

550,000

NET BOOK VALUE

At 30 April 2025

550,000

At 30 April 2024

509,000

Fair value at 30 April 2025 is represented by:

£

Valuation in 2023

26,509

Valuation in 2025

41,000

Cost

482,491

550,000

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

482,491

482,491

Investment property was valued on a fair value basis on 30 April 2025 by the directors .

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

662,341

662,209

8.	RELATED PARTY DISCLOSURES

A director has provided the company with an unsecured, interest free loan with no fixed repayment terms. At the year end the director was owed £661,249 (2024 - £661,249) by the company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kare Properties Ltd for the year ended 30 April 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Kare Properties Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kare Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Kare Properties Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kare Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kare Properties Ltd. You consider that Kare Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kare Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sharles Ltd

Chartered Accountants

29 Brandon Street

Hamilton

ML3 6DA

29 December 2025