IRIS Accounts Production v25.4.0.155 SC741803 Board of Directors 1.2.24 31.1.25 31.1.25 23.1.26 0 0 false true false false true false Auditors Opinion iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC741803 2024-01-31 SC741803 2025-01-31 SC741803 2024-02-01 2025-01-31 SC741803 2022-08-18 SC741803 2022-08-19 2024-01-31 SC741803 2024-01-31 SC741803 ns15:Scotland 2024-02-01 2025-01-31 SC741803 ns14:PoundSterling 2024-02-01 2025-01-31 SC741803 ns10:Director1 2024-02-01 2025-01-31 SC741803 ns10:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 SC741803 ns10:SmallEntities 2024-02-01 2025-01-31 SC741803 ns10:Audited 2024-02-01 2025-01-31 SC741803 ns10:SmallCompaniesRegimeForDirectorsReport 2024-02-01 2025-01-31 SC741803 ns10:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 SC741803 ns10:FullAccounts 2024-02-01 2025-01-31 SC741803 ns10:Director2 2024-02-01 2025-01-31 SC741803 ns10:Director3 2024-02-01 2025-01-31 SC741803 ns10:RegisteredOffice 2024-02-01 2025-01-31 SC741803 ns5:CurrentFinancialInstruments 2025-01-31 SC741803 ns5:CurrentFinancialInstruments 2024-01-31 SC741803 ns5:Non-currentFinancialInstruments 2025-01-31 SC741803 ns5:Non-currentFinancialInstruments 2024-01-31 SC741803 ns5:ShareCapital 2025-01-31 SC741803 ns5:ShareCapital 2024-01-31 SC741803 ns5:RetainedEarningsAccumulatedLosses 2025-01-31 SC741803 ns5:RetainedEarningsAccumulatedLosses 2024-01-31 SC741803 ns5:PlantMachinery 2024-02-01 2025-01-31 SC741803 ns5:LandBuildings 2024-01-31 SC741803 ns5:PlantMachinery 2024-01-31 SC741803 ns5:LandBuildings 2024-02-01 2025-01-31 SC741803 ns5:LandBuildings 2025-01-31 SC741803 ns5:PlantMachinery 2025-01-31 SC741803 ns5:LandBuildings 2024-01-31 SC741803 ns5:PlantMachinery 2024-01-31 SC741803 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-01-31 SC741803 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-01-31 SC741803 ns5:Non-currentFinancialInstruments ns5:MoreThanFiveYears 2025-01-31 SC741803 ns5:Non-currentFinancialInstruments ns5:MoreThanFiveYears 2024-01-31

REGISTERED NUMBER: SC741803 (Scotland)

Audited Financial Statements

for the Year Ended 31 January 2025

for

Leisure Property Management (Scotland)

Ltd

| Leisure Property Management (Scotland) |

| Ltd (Registered number: SC741803) |

Contents of the Financial Statements

for the Year Ended 31 January 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Leisure Property Management (Scotland) |

| Ltd |

Company Information

for the Year Ended 31 January 2025

| DIRECTORS: | Mrs L J Connelly

| M T Taylor

| M R Taylor

| REGISTERED OFFICE: | C/o Gillespie & Anderson CA

| 147 Bath Street

| Glasgow

| G2 4SN

| REGISTERED NUMBER: | SC741803 (Scotland)

| AUDITORS: | Gillespie & Anderson

| Statutory Auditors

| Chartered Accountants

| 147 Bath Street

| Glasgow

| G2 4SN

| Leisure Property Management (Scotland) |

| Ltd (Registered number: SC741803) |

Balance Sheet

31 January 2025

| 2025 | 2024 |

| (Unaudited) |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 1,091,900 |  | 1,069,688 |  |

CURRENT ASSETS

Debtors | 5 | 678 |  | 5,600 |  |

Cash at bank | 6,681 |  | 173,449 |  |

7,359 |  | 179,049 |  |

CREDITORS

Amounts falling due within one year | 6 | 527,330 |  | 671,766 |  |

NET CURRENT LIABILITIES | (519,971 | ) | (492,717 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 571,929 |  | 576,971 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 600,000 |  | 600,000 |  |

NET LIABILITIES | (28,071 | ) | (23,029 | ) |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | (28,171 | ) | (23,129 | ) |

(28,071 | ) | (23,029 | ) |

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 23 January 2026 and were signed on its behalf by:

Mrs L J Connelly - Director

| Leisure Property Management (Scotland) |

| Ltd (Registered number: SC741803) |

Notes to the Financial Statements

for the Year Ended 31 January 2025

1. | STATUTORY INFORMATION

| Leisure Property Management (Scotland) Ltd 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.

| Going concern

| The financial statements have been prepared on the going concern basis, which is dependent, in part, on the financial stability of Lochview Theme Park (Scotland) Ltd, a fellow subsidiary company.

| Lochview Theme Park (Scotland) Ltd's ability to continue as a going concern relies on creditor support and access to short term financing. Should the level of support from Lochview Theme Park (Scotland) Ltd be withdrawn, Leisure Property Management (Scotland) Ltd may be unable to realise its assets and discharge its liabilities in the normal course of business, whilst adjustments may be required to reduce to reduce the value of assets to their recoverable amount and to provide for any further liabilities which may arise.

| Significant judgements and estimates

| The directors have made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The directors' estimates, assumptions and judgements that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes.

| Turnover

| Turnover relates to rental income received, net of VAT and excluding discounts, rebates and other taxes, and is recognised when the company becomes entitled to the income, it can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the entity.

| 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.

| Plant and machinery etc | - | 2% on cost

| Land and building is initially measured at cost and is not depreciated until the site is brought into use.

| Factors such as a change in how an asset is used, significant unexpected wear and tear, technological advancement, and changes in market prices may indicate that the residual value or useful life of an asset has changed since the most recent annual reporting date. If such indicators are present, the company will review its previous estimates and, if current expectations differ, amend the residual value, depreciation method or useful life, accounting for such revisions as a change in an accounting estimate in accordance with FRS 102.

| Leisure Property Management (Scotland) |

| Ltd (Registered number: SC741803) |

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has no complex financial instruments but does hold basic financial instruments of: cash at bank, debtors and creditors.

| Cash and cash equivalents comprise cash at bank and on hand, foreign currency on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. A bank overdraft would be shown within current liabilities.

| Trade and other debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effect of discounting would be immaterial. In such cases, trade and other debtors are stated at cost less losses for bad debts.

| Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other creditors are stated at cost.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

| Provision for liabilities

| A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised.

3. | EMPLOYEES AND DIRECTORS

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

| Leisure Property Management (Scotland) |

| Ltd (Registered number: SC741803) |

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 February 2024 | 1,059,241 |  | 10,447 |  | 1,069,688 |  |

| Additions | 6,000 |  | 16,212 |  | 22,212 |  |

| At 31 January 2025 | 1,065,241 |  | 26,659 |  | 1,091,900 |  |

| NET BOOK VALUE

| At 31 January 2025 | 1,065,241 |  | 26,659 |  | 1,091,900 |  |

| At 31 January 2024 | 1,059,241 |  | 10,447 |  | 1,069,688 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| (Unaudited)

£ | £ |

| Trade debtors | - |  | 4,650 |  |

| Amounts owed by group undertakings | 100 |  | 100 |  |

| Other debtors | 578 |  | 850 |  |

678 |  | 5,600 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| (Unaudited)

£ | £ |

| Amounts owed to group undertakings | 519,946 |  | 666,497 |  |

| Taxation and social security | 2,813 |  | 2,433 |  |

| Other creditors | 4,571 |  | 2,836 |  |

527,330 |  | 671,766 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

| (Unaudited)

£ | £ |

| Bank loans | 600,000 |  | 600,000 |  |

| Amounts falling due in more than five years:

| Repayable otherwise than by instalments

| Bank loans more 5 yrs non-inst | - |  | 600,000 |  |

8. | SECURED DEBTS

| The company's term loan is secured by a standard security over the site at Whistleberry Road, Hamilton, along with a floating charge over all other assets of the company and a personal guarantee from each of the three directors.

| Leisure Property Management (Scotland) |

| Ltd (Registered number: SC741803) |

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Alun Johnstone B.Acc CA (Senior Statutory Auditor)

| for and on behalf of Gillespie & Anderson

10. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

| In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12. | ULTIMATE CONTROLLING PARTY

| The company is wholly owned subsidiary of Leisure Management (Scotland) Ltd, the parent company.

| The parent company is owned equally by the three directors of this company along with Matthew W Taylor, all of whom own 25% of the parent company. The directors consider that there is no ultimate controlling party - the issued share capital (which rank pari passu in all respects) is divided equally between the three directors of the company and Matthew W Taylor.

| Leisure Management (Scotland) Ltd prepares consolidated financial statements for the group and its registered office and principal place of business are identical to that of the company.