Silverfin false false 31/05/2025 01/06/2024 31/05/2025 J Antliff 27/05/2021 M Antliff 27/05/2021 23 December 2025 The principal activity of the Company during the financial year continued to be property investment. SC700057 2025-05-31 SC700057 bus:Director1 2025-05-31 SC700057 bus:Director2 2025-05-31 SC700057 2024-05-31 SC700057 core:CurrentFinancialInstruments 2025-05-31 SC700057 core:CurrentFinancialInstruments 2024-05-31 SC700057 core:ShareCapital 2025-05-31 SC700057 core:ShareCapital 2024-05-31 SC700057 core:RevaluationReserve 2025-05-31 SC700057 core:RevaluationReserve 2024-05-31 SC700057 core:RetainedEarningsAccumulatedLosses 2025-05-31 SC700057 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC700057 core:LandBuildings 2024-05-31 SC700057 core:LandBuildings 2025-05-31 SC700057 bus:OrdinaryShareClass1 2025-05-31 SC700057 2024-06-01 2025-05-31 SC700057 bus:FilletedAccounts 2024-06-01 2025-05-31 SC700057 bus:SmallEntities 2024-06-01 2025-05-31 SC700057 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 SC700057 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 SC700057 bus:Director1 2024-06-01 2025-05-31 SC700057 bus:Director2 2024-06-01 2025-05-31 SC700057 2023-06-01 2024-05-31 SC700057 bus:OrdinaryShareClass1 2024-06-01 2025-05-31 SC700057 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 SC700057 1 2024-06-01 2025-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC700057 (Scotland)

# THE WORKS FACTORY ESTATES LTD

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

THE WORKS FACTORY ESTATES LTD

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025

Contents

THE WORKS FACTORY ESTATES LTD

## BALANCE SHEET

AS AT 31 MAY 2025
THE WORKS FACTORY ESTATES LTD

## BALANCE SHEET (continued)

AS AT 31 MAY 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 1,950,000 |  | 1,950,000
|  | 1,950,000 |  | 1,950,000
Current assets |  |  |  |
Debtors | 4 | 2,001 |  | 530
|  | 2,001 |  | 530
Creditors: amounts falling due within one year | 5 | ( 1,435,417) |  | ( 1,469,094)
Net current liabilities |  | (1,433,416) |  | (1,468,564)
Total assets less current liabilities |  | 516,584 |  | 481,436
Provision for liabilities | 6 | ( 61,845) |  | ( 61,845)
Net assets |  | 454,739 |  | 419,591
Capital and reserves |  |  |  |
Called-up share capital | 7 | 1 |  | 1
Revaluation reserve |  | 185,550 |  | 185,550
Profit and loss account |  | 269,188 |  | 234,040
Total shareholder's funds |  | 454,739 |  | 419,591

For the financial year ending 31 May 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 The Works Factory Estates Ltd (registered number: SC700057) were approved and authorised for issue by the Board of Directors on 23 December 2025. They were signed on its behalf by:

M Antliff Director |

THE WORKS FACTORY ESTATES LTD

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2025
THE WORKS FACTORY ESTATES LTD

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 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

The Works Factory Estates Ltd (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 19 Law Place, Nerston Industrial Estate, East Kilbride, Glasgow, G74 4QL, 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 note that the business has net current liabilities. The Company is supported through loans from Related Parties. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Related Parties will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met 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 in the normal course of business, and is shown net of VAT and other sales related taxes.

##### 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.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | not depreciated

Freehold land and buildings have not been depreciated in the current period. The directors believe that the estimated residual value of the land and buildings is not materially different from the carrying amount such that any depreciation charge in the period would be negligible. Although this accounting policy is in accordance with the applicable accounting standards, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the financial statements to give a true and fair view.
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.

##### 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, 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 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 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.

##### 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. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

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

#### 3. Tangible assets

| Land and buildings |  | Total
| £ |  | £
Cost |  |  |
At 01 June 2024 | 1,950,000 |  | 1,950,000
At 31 May 2025 | 1,950,000 |  | 1,950,000
Accumulated depreciation |  |  |
At 01 June 2024 | 0 |  | 0
At 31 May 2025 | 0 |  | 0
Net book value |  |  |
At 31 May 2025 | 1,950,000 |  | 1,950,000
At 31 May 2024 | 1,950,000 |  | 1,950,000

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Other debtors | 2,001 |  | 530

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

| 2025 |  | 2024
| £ |  | £
Amounts owed to Group undertakings | 83,531 |  | 83,531
Other creditors | 1,351,886 |  | 1,385,563
| 1,435,417 |  | 1,469,094

#### 6. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 61,845 |  | 61,845

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1,000 Ordinary shares of £ 0.001 each | 1 |  | 1

#### 8. Related party transactions

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Amounts owed to related parties | 1,271,515 |  | 1,309,152

The company has taken advantage of the exemption available in FRS 102 Section 1A whereby it has not disclosed transactions with the immediate parent company or any wholly owned subsidiary undertaking of the group.

Amounts included above are unsecured, interest free, and repayable on demand.

#### 9. Ultimate controlling party

The immediate parent company is The Works Factory Limited (SC365088), a company registered in Scotland at 19 Law Place, East Kilbride, Glasgow, G74 4QL. The ultimate parent company is Skye 25 Limited (SC763584) a company registered in Scotland at 19 Law Place, East Kilbride, Glasgow, G74 4QL.