REGISTERED NUMBER: SC212956 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

PMD (Properties) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Paul Michael McDermott

Mrs Wilma Isla McDermott

REGISTERED OFFICE:

16 North Claremont Street

Glasgow

G3 7LE

REGISTERED NUMBER:

SC212956 (Scotland)

ACCOUNTANTS:

Stevenson & Kyles

Chartered Accountants

25 Sandyford Place

Glasgow

G3 7NG

FIXED ASSETS

Tangible assets

4

1,027,410

1,715,449

CURRENT ASSETS

Debtors

5

500

17,500

Cash at bank

392,140

31,613

392,640

49,113

CREDITORS

Amounts falling due within one year

6

591,290

1,236,350

NET CURRENT LIABILITIES

(198,650

)

(1,187,237

)

TOTAL ASSETS LESS CURRENT LIABILITIES

828,760

528,212

CREDITORS

Amounts falling due after more than one year

7

(191,041

)

(10,955

)

PROVISIONS FOR LIABILITIES

9

-

(4,369

)

NET ASSETS

637,719

512,888

CAPITAL AND RESERVES

Called up share capital

10

100

100

Revaluation reserve

11

(236,818

)

(236,818

)

Retained earnings

874,437

749,606

SHAREHOLDERS' FUNDS

637,719

512,888

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2025 and were signed on its behalf by:

Mr Paul Michael McDermott - Director

1.	STATUTORY INFORMATION

PMD (Properties) 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.

Turnover

Turnover represents a combination of rent receivable and income from interior design.

Tangible fixed assets

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

Investment properties

-

not provided

Integral features

-

15% on reducing balance

Fittings and equipment

-

15% on reducing balance

The cost of investment properties is their purchase cost, together with any incidental costs of acquisitions.

Investment properties are included at fair value. Gains or losses on revaluations are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Basic financial instruments, including 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 administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fittings

Investment

Integral

and

properties

features

equipment

Totals

£

£

£

£

COST

At 1 April 2024

1,687,330

89,217

64,835

1,841,382

Disposals

(659,920

)

(89,217

)

(64,835

)

(813,972

)

At 31 March 2025

1,027,410

-

-

1,027,410

DEPRECIATION

At 1 April 2024

-

82,593

43,340

125,933

Eliminated on disposal

-

(82,593

)

(43,340

)

(125,933

)

At 31 March 2025

-

-

-

-

NET BOOK VALUE

At 31 March 2025

1,027,410

-

-

1,027,410

At 31 March 2024

1,687,330

6,624

21,495

1,715,449

The investment properties are shown at their open market value based on annual valuations. The valuations were undertaken by the director, Mr Paul McDermott.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

500

17,500

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

30,000

260,855

Trade creditors

18,656

14,704

Taxation and social security

3,176

5,608

Other creditors

539,458

955,183

591,290

1,236,350

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

191,041

10,955

Amounts falling due in more than five years:

Repayable by instalments

Bank loans > 5 years

105,040

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

221,041

271,810

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

-

4,369

Deferred

tax

£

Balance at 1 April 2024

4,369

Provided during year

(4,369

)

Balance at 31 March 2025

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

(236,818

)

12.	ULTIMATE CONTROLLING PARTY