REGISTERED NUMBER: SC147124

FREEHOLD PROPERTIES AND INVESTMENTS

LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

345

460

Investments

5

206,220

195,634

Investment property

6

1,725,000

2,220,000

1,931,565

2,416,094

CURRENT ASSETS

Debtors

7

11,214

11,214

Cash at bank

908,860

91,179

920,074

102,393

CREDITORS

Amounts falling due within one year

8

117,430

122,592

NET CURRENT ASSETS/(LIABILITIES)

802,644

(20,199

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,734,209

2,395,895

CREDITORS

Amounts falling due after more than one year

9

724

11,505

NET ASSETS

2,733,485

2,384,390

CAPITAL AND RESERVES

Called up share capital

48,928

48,928

Fair value reserve

1,194,858

1,289,858

Capital redemption reserve

51,070

51,070

Retained earnings

1,438,629

994,534

SHAREHOLDERS' FUNDS

2,733,485

2,384,390

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

A S Peters - Director

M L Peters - Director

1.	STATUTORY INFORMATION

Freehold Properties and Investments Limited is a private company, limited by shares, registered in Scotland. The company's registered office is 40 Kelvingrove Street, Glasgow, G3 7RZ.

The financial statements are presented in Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. There were no material departures from that standard.

Judgements

The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

Turnover

Turnover represents rental and recharged expenses receivable under operating leases, excluding VAT, which are being recognised in accordance with the terms of the lease agreements.

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.

Fixtures and fittings

-

25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses.

At each reporting date non-financial assets not carried at fair value, like plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Investment property

All of the company's properties are held for long term investment. Investment properties are accounted for as follows:

(i) Investment properties are initially recorded at cost which includes purchase cost and and directly attributable expenditure.

(ii) Thereafter, investment properties are revalued at each balance sheet date to their fair value, where this can be measured reliably.

(iii) The surplus or deficit arising on revaluation in the financial year is recognised in the profit and loss account for that year. Revaluation gains and losses are accumulated in the profit and loss account reserve, unless the revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a non-distributable reserve (fair value reserve) in the balance sheet.

(iv) Deferred taxation is provided on any gains at the rate expected to apply when a property is sold.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and loans to and from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at the present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Listed investment fund

Equity investments which are publicly traded and for which their fair value can be measured reliably are recognised initially at fair value which is normally the transaction price. Subsequently, they are measured at fair value through profit and loss. Revaluation gains or losses arising on revaluation are accumulated in the profit and loss account reserve.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 August 2024

and 31 July 2025

40,816

DEPRECIATION

At 1 August 2024

40,356

Charge for year

115

At 31 July 2025

40,471

NET BOOK VALUE

At 31 July 2025

345

At 31 July 2024

460

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 August 2024

195,634

Revaluations

10,586

At 31 July 2025

206,220

NET BOOK VALUE

At 31 July 2025

206,220

At 31 July 2024

195,634

Cost or valuation at 31 July 2025 is represented by:

Other

investments

£

Valuation in 2023

10,837

Valuation in 2024

33,797

Valuation in 2024

10,586

Cost

151,000

206,220

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2024

2,220,000

Disposals

(495,000

)

At 31 July 2025

1,725,000

NET BOOK VALUE

At 31 July 2025

1,725,000

At 31 July 2024

2,220,000

The fair value of the investment property at 31 July 2025, has been arrived at on the basis of a valuation carried out at that date by the company directors, who are not professionally qualified valuers. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in their location and takes into account the current state of the rental market in the area where the property is situated. The directors are of the opinion that there has been no change since the last professional valuation carried out in 2021.

Fair value at 31 July 2025 is represented by:

£

Valuation in 2021

1,194,858

Cost

530,142

1,725,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

11,214

11,214

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,648

10,092

Trade creditors

2,516

2,516

Taxation and social security

47,289

50,266

Other creditors

56,977

59,718

117,430

122,592

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

724

11,505

10.	PARENT COMPANY

The company is a wholly owned subsidiary of Kelvingrove Investments Limited. The registered address of the holding company is 40 Kelvingrove Street, Glasgow, G3 7RZ.