REGISTERED NUMBER: SC386872 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 May 2025

for

The Flat Company (Investments) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

W J H Walters

D Zank

REGISTERED OFFICE:

61a Queen Street

Edinburgh

EH2 4NA

REGISTERED NUMBER:

SC386872 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

SOLICITORS:

Connell & Connell WS

10 Dublin Street

Edinburgh

EH1 3PR

FIXED ASSETS

Investment property

4

795,000

775,000

CURRENT ASSETS

Debtors

5

6,931

3,623

Cash at bank

1,090

1,209

8,021

4,832

CREDITORS

Amounts falling due within one year

6

75,432

133,457

NET CURRENT LIABILITIES

(67,411

)

(128,625

)

TOTAL ASSETS LESS CURRENT LIABILITIES

727,589

646,375

CREDITORS

Amounts falling due after more than one year

7

(486,360

)

(419,284

)

PROVISIONS FOR LIABILITIES

9

(34,205

)

(30,405

)

NET ASSETS

207,024

196,686

CAPITAL AND RESERVES

Called up share capital

10

100

100

Fair value reserve

11

145,820

129,620

Retained earnings

11

61,104

66,966

SHAREHOLDERS' FUNDS

207,024

196,686

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 19 November 2025 and were signed on its behalf by:

W J H Walters - Director

1.	STATUTORY INFORMATION

The Flat Company (Investments) 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.

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, modified to include certain items at fair value.

The financial statements have been prepared on a going concern basis, the acceptability of which is dependent on the continued support of the directors.

Investment property

Investment properties, for which fair value can be measured reliably without undue cost or effort on an ongoing basis, are measured at fair value annually with any change recognised in the profit and loss account.

In accordance with Financial Reporting Standard 102 no depreciation is provided in respect of freehold properties held as investment properties where fair value can be measured reliably without undue cost or effort. This is a departure from the requirements of the Companies Act 2006, which requires all properties to be depreciated. Such properties are held for investment and not for consumption, and the directors consider that to depreciate them would not give a true and fair view.

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.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Exception from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present

obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2024

775,000

Revaluations

20,000

At 31 May 2025

795,000

NET BOOK VALUE

At 31 May 2025

795,000

At 31 May 2024

775,000

Fair value at 31 May 2025 is represented by:

£

Valuation in 2016

23,967

Valuation in 2018

5,000

Valuation in 2019

46,530

Valuation in 2020

10,000

Valuation in 2021

32,509

Valuation in 2022

37,020

Valuation in 2024

5,000

Valuation in 2025

20,000

Cost

614,974

795,000

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

31.5.25

31.5.24

£

£

Cost

614,974

614,974

Investment property was valued on an open market basis on 31 May 2025 by W Walters, director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Prepayments

6,931

3,623

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Inter company loans

67,739

121,705

Loan

5,845

10,018

Accrued expenses

1,848

1,734

75,432

133,457

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.25

31.5.24

£

£

Loan

486,360

419,284

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.25

31.5.24

£

£

Loans

492,206

429,302

The loan creditor is secured by a floating charge which covers all the property or undertakings of the company. The charge is held by Paragon Bank Limited and Foundation Home Loans.

9.	PROVISIONS FOR LIABILITIES

31.5.25

31.5.24

£

£

Deferred tax

34,205

30,405

Deferred

tax

£

Balance at 1 June 2024

30,405

Provided during year

3,800

Balance at 31 May 2025

34,205

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.25

31.5.24

value:

£

£

1,000

Ordinary

£0.10

100

100

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 June 2024

66,966

129,620

196,586

Profit for the year

10,338

10,338

Investment property

(20,000

)

-

(20,000

)

Transfer

3,800

16,200

20,000

At 31 May 2025

61,104

145,820

206,924

12.	RELATED PARTY DISCLOSURES

Transactions with related parties during the year and balances outstanding at the year end were as follows:

Related Party

Transaction

Amount received / (paid) in year to 31.5.25

Amount received / (paid) in year to 31.5.24

Balance (payable to) / receivable from related party as at 31.5.25

Balance (payable to) / receivable from related party as at 31.5.24

£

£

£

£

Company 1

Management fees

3,301

2,592

Nil

Nil

Loan

(13,000)

Nil

(36,000)

(49,000)

Company 2

Maintenance work

1,938

2,019

Nil

Nil

Company 3

Loan

(40,966)

(3,013)

(31,739)

(72,705)

Management fees

1,744

1,985

Nil

Nil

One of the directors is a director and a shareholder of Company 1.

One of the directors is also a shareholder of Company 2 and one of the directors is a director of Company 2.

The directors are directors and shareholders of Company 3.

13.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling interest.