Silverfin false false 31/07/2025 01/08/2024 31/07/2025 Mr D Carmichael 18/10/2019 Mrs F Carmichael 27/10/2021 02 December 2025 The principal activity of the Company during the financial year continued to be that of letting real estate. SC644822 2025-07-31 SC644822 bus:Director1 2025-07-31 SC644822 bus:Director2 2025-07-31 SC644822 2024-07-31 SC644822 core:CurrentFinancialInstruments 2025-07-31 SC644822 core:CurrentFinancialInstruments 2024-07-31 SC644822 core:ShareCapital 2025-07-31 SC644822 core:ShareCapital 2024-07-31 SC644822 core:RetainedEarningsAccumulatedLosses 2025-07-31 SC644822 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC644822 bus:OrdinaryShareClass1 2025-07-31 SC644822 2024-08-01 2025-07-31 SC644822 bus:FilletedAccounts 2024-08-01 2025-07-31 SC644822 bus:SmallEntities 2024-08-01 2025-07-31 SC644822 bus:AuditExemptWithAccountantsReport 2024-08-01 2025-07-31 SC644822 bus:PrivateLimitedCompanyLtd 2024-08-01 2025-07-31 SC644822 bus:Director1 2024-08-01 2025-07-31 SC644822 bus:Director2 2024-08-01 2025-07-31 SC644822 2023-08-01 2024-07-31 SC644822 bus:OrdinaryShareClass1 2024-08-01 2025-07-31 SC644822 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC644822 (Scotland)

# CARMICHAEL PROPERTIES (GLASGOW) LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JULY 2025
PAGES FOR FILING WITH THE REGISTRAR

CARMICHAEL PROPERTIES (GLASGOW) LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2025

Contents

CARMICHAEL PROPERTIES (GLASGOW) LIMITED

## BALANCE SHEET

AS AT 31 JULY 2025
CARMICHAEL PROPERTIES (GLASGOW) LIMITED

## BALANCE SHEET (continued)

AS AT 31 JULY 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investment property | 3 | 1,634,378 |  | 1,634,378
|  | 1,634,378 |  | 1,634,378
Current assets |  |  |  |
Debtors | 4 | 5,937 |  | 4,402
Cash at bank and in hand |  | 76,135 |  | 108,638
|  | 82,072 |  | 113,040
Creditors: amounts falling due within one year | 5 | ( 83,670) |  | ( 73,661)
Net current (liabilities)/assets |  | (1,598) |  | 39,379
Total assets less current liabilities |  | 1,632,780 |  | 1,673,757
Net assets |  | 1,632,780 |  | 1,673,757
Capital and reserves |  |  |  |
Called-up share capital | 6 | 250,000 |  | 250,000
Profit and loss account |  | 1,382,780 |  | 1,423,757
Total shareholder's funds |  | 1,632,780 |  | 1,673,757

For the financial year ending 31 July 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Carmichael Properties (Glasgow) Limited (registered number: SC644822) were approved and authorised for issue by the Board of Directors on 02 December 2025. They were signed on its behalf by:

Mr D Carmichael Director |

CARMICHAEL PROPERTIES (GLASGOW) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2025
CARMICHAEL PROPERTIES (GLASGOW) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Carmichael Properties (Glasgow) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 26 Claremount Avenue, Giffnock, Glasgow, G46 6UT, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rental income, and is shown net of VAT and other sales related taxes.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments 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. Amounts 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Investment property

| Investment property
| £
Valuation |
As at 01 August 2024 | 1,634,378
As at 31 July 2025 | 1,634,378

Valuation

The properties were valued by Avison Young between May 2019 and August 2019. The director considers that the values have not materially changed at the balance sheet date.

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 2,181 |  | 864
Other debtors | 3,756 |  | 3,538
| 5,937 |  | 4,402

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 43 |  | 48
Taxation and social security | 17,491 |  | 29,196
Other creditors | 66,136 |  | 44,417
| 83,670 |  | 73,661

#### 6. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
250,000 Ordinary shares of £ 1.00 each | 250,000 |  | 250,000

#### 7. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Amouts owed to directors | 51,044 |  | 28,822

#### 8. Ultimate controlling party

Parent Company:

Carmichael Holdings (Glasgow) Limited
26 Claremount Avenue, Giffnock, Glasgow, Scotland, G46 6UT