Company registration number SC279746 (Scotland)
Tayside Solicitors Property Centre Limited
unaudited financial statements
for the year ended 30 June 2025
Pages for filing with registrar
Tayside Solicitors Property Centre Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
Tayside Solicitors Property Centre Limited
Balance sheet
as at 30 June 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
6,079
7,922
Current assets
Debtors
5
52,359
67,162
Cash at bank and in hand
376,902
356,958
429,261
424,120
Creditors: amounts falling due within one year
6
(244,929)
(198,637)
Net current assets
184,332
225,483
Total assets less current liabilities
190,411
233,405
Provisions for liabilities
-
0
(1,976)
Net assets
190,411
231,429
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
8
190,410
231,428
Total equity
190,411
231,429
Tayside Solicitors Property Centre Limited
Balance sheet (continued)
as at 30 June 2025
30 June 2025
- 2 -

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 January 2026 and are signed on its behalf by:
RJG Couston
Director
Company registration number SC279746 (Scotland)
Tayside Solicitors Property Centre Limited
Notes to the financial statements
for the year ended 30 June 2025
- 3 -
1
Accounting policies
Company information

Tayside Solicitors Property Centre Limited is a private company limited by shares incorporated in Scotland. The registered office is 11 Whitehall Crescent, Dundee, DD1 4AR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is derived from the company's principal activity and is stated net of value added tax. Turnover is recognised when the fee is raised for the property insertion.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% straight line basis
Fixtures, fittings & equipment
20% reducing balance
Computer equipment
33 1/3% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Tayside Solicitors Property Centre Limited
Notes to the financial statements (continued)
for the year ended 30 June 2025
1
Accounting policies (continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

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

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Tayside Solicitors Property Centre Limited
Notes to the financial statements (continued)
for the year ended 30 June 2025
1
Accounting policies (continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Tayside Solicitors Property Centre Limited
Notes to the financial statements (continued)
for the year ended 30 June 2025
1
Accounting policies (continued)
- 6 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
9
13
Tayside Solicitors Property Centre Limited
Notes to the financial statements (continued)
for the year ended 30 June 2025
- 7 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2024
57,518
66,541
124,059
Additions
-
0
594
594
At 30 June 2025
57,518
67,135
124,653
Depreciation and impairment
At 1 July 2024
57,431
58,706
116,137
Depreciation charged in the year
17
2,420
2,437
At 30 June 2025
57,448
61,126
118,574
Carrying amount
At 30 June 2025
70
6,009
6,079
At 30 June 2024
87
7,835
7,922

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
28,931
27,260
Other debtors
23,428
39,902
52,359
67,162
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
24,642
66,165
Amounts owed to group undertakings
194,774
113,104
Taxation and social security
16,330
10,511
Other creditors
9,183
8,857
244,929
198,637
Tayside Solicitors Property Centre Limited
Notes to the financial statements (continued)
for the year ended 30 June 2025
- 8 -
7
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
8
Profit and loss reserves

Profit and loss reserves include all current and prior period retained profits and losses.

9
Pension Commitments

The company contributes to pension funds for its employees. The pension cost and charge represents contributions payable by the company to the pension funds and amounted to £5,379 (2024: £9,876).

10
Related party transactions
Transactions with related parties

During the year ended 30 June 20 25, the company paid TSPC Holdings Limited for property rental charges of £41,065 (20 24 - £39,319) and interest charges of £8,800 (20 24 - £7,375) relating to the balance outstanding during the year. These transactions were on an arms length basis.

As at 30 June 20 25 the company owed £194,774 to TSPC Holdings Limited (20 24 - £113,104).

During the year fees for secretarial services, trademarks, and legal advice were provided to Tayside Solicitors Property Centre Limited from a firm in which one of the directors is a member amounting to £Nil (2024 - £Nil). Tayside Solicitors Property Centre also paid membership fees of £475 (2024 - £475) to SPC Scotland Limited, a company with a common director. No guarantees have been given or received.

During the year to 30 June 2025, Tayside Solicitors Property Centre Limited made advances to Perthshire Solicitors Property Centre Limited of £Nil (2024 - £26,000) and paid costs on behalf of Perthshire Solicitors Property Centre Limited totalling £8,127 (2024 - £8,477) for rent, IT, insurance, marketing and legal fees.

As at 30 June 2025, the company was due £7,305 from Perthshire Solicitors Property Centre Limited (2024 - £34,477).

11
Parent company

The company is wholly owned by TSPC Holdings Limited, a company registered in Scotland. The registered office is 11 Whitehall Crescent, Dundee, Scotland, DD1 4AR. No one individual has overall control of TSPC Holdings Limited.

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