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Registration number: SC254368

Gael Properties Ltd.
Unaudited Filleted Financial Statements
for the Year Ended 31 August 2025

Gael Properties Ltd.

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 7
Accountants' Report | 8

Gael Properties Ltd.

Company Information

Director | Mrs Gael Bloe

Company secretary | Mr Charles Bloe

Registered office | No. 1 Beinn Ghuilbinn Osprey Grange Aviemore PH22 1LB

Accountants | EQ Accountants Ltd Unit 4B Gateway Business Park Beancross Road Grangemouth FK3 8WX

Gael Properties Ltd.

(Registration number: SC254368)
Balance Sheet as at 31 August 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 348 | 465
Investment property | 5 | 570,000 | 590,000
|  | 570,348 | 590,465
Current assets |  |  |
Debtors | 6 | 189 | -
Cash at bank and in hand |  | 7,953 | 5,003
|  | 8,142 | 5,003
Creditors: Amounts falling due within one year | 7 | (1,798) | (1,775)
Net current assets |  | 6,344 | 3,228
Total assets less current liabilities |  | 576,692 | 593,693
Creditors: Amounts falling due after more than one year | 7 | (462,108) | (469,653)
Net assets |  | 114,584 | 124,040
Capital and reserves |  |  |
Called up share capital |  | 2 | 2
Retained earnings |  | 114,582 | 124,038
Shareholders' funds |  | 114,584 | 124,040

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

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 December 2025

......................................... Mrs Gael Bloe Director

Gael Properties Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1 | General information

The company is a private company limited by share capital, incorporated in Scotland .

2 | Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises of tax. Tax is recognised in profit or loss, except that a change in attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixtures and fittings | Reducing balance at 25%
Freehold property | Not provided

Gael Properties Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3 | Employees and Directors

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

Gael Properties Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

4 | Tangible assets

| Fixtures and fittings £ | Total £
Cost or valuation
At 1 September 2024 | 4,254 | 4,254
At 31 August 2025 | 4,254 | 4,254
Depreciation
At 1 September 2024 | 3,789 | 3,789
Charge for the year | 117 | 117
At 31 August 2025 | 3,906 | 3,906
Carrying amount
At 31 August 2025 | 348 | 348
At 31 August 2024 | 465 | 465

5 | Investment properties

| 2025 £
At 1 September | 590,000
Fair value adjustments | (20,000)
At 31 August | 570,000

There has been no valuation of investment property by an independent valuer.

6 | Debtors

| 2025 £ | 2024 £
Prepayments | 189 | -
| 189 | -

Gael Properties Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Taxation and social security | 158 | 158
Other creditors | 1,640 | 1,617
| 1,798 | 1,775

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | 462,108 | 469,653

8 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 462,108 | 469,653

Gael Properties Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

9 | Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

| 2025 £ | 2024 £
Mrs Gael Bloe | 462,108 | 469,653
| 462,108 | 469,653

The maximum balance outstanding during the year amounted to £469,653.
The directors current accounts are repayable on demand.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Gael Properties Ltd.
for the Year Ended 31 August 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gael Properties Ltd. for the year ended 31 August 2025 as set out on pages 2 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Gael Properties Ltd., as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Gael Properties Ltd. and state those matters that we have agreed to state to the Board of Directors of Gael Properties Ltd., as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gael Properties Ltd. and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Gael Properties Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Gael Properties Ltd.. You consider that Gael Properties Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Gael Properties Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................
EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

9 December 2025