Silverfin false false 30/09/2025 01/10/2024 30/09/2025 Michael Holburt Waring 11/05/2001 Ian Alexander Macdonald 08/07/2016 Richard Neal Phoenix 01/09/2021 31 March 2026 The principal activity of the Company during the financial year was that of management of its Heritable property and Investments. The directors are continuing to look for suitable property to purchase or opportunities to realise their existing property. SC015568 2025-09-30 SC015568 bus:Director1 2025-09-30 SC015568 bus:Director2 2025-09-30 SC015568 bus:Director3 2025-09-30 SC015568 2024-09-30 SC015568 core:CurrentFinancialInstruments 2025-09-30 SC015568 core:CurrentFinancialInstruments 2024-09-30 SC015568 core:ShareCapital 2025-09-30 SC015568 core:ShareCapital 2024-09-30 SC015568 core:SharePremium 2025-09-30 SC015568 core:SharePremium 2024-09-30 SC015568 core:RevaluationReserve 2025-09-30 SC015568 core:RevaluationReserve 2024-09-30 SC015568 core:OtherCapitalReserve 2025-09-30 SC015568 core:OtherCapitalReserve 2024-09-30 SC015568 core:RetainedEarningsAccumulatedLosses 2025-09-30 SC015568 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC015568 core:CostValuation 2024-09-30 SC015568 core:AdditionsToInvestments 2025-09-30 SC015568 core:DisposalsRepaymentsInvestments 2025-09-30 SC015568 core:RevaluationsIncreaseDecreaseInInvestments 2025-09-30 SC015568 core:CostValuation 2025-09-30 SC015568 2023-09-30 SC015568 bus:OrdinaryShareClass1 2025-09-30 SC015568 2024-10-01 2025-09-30 SC015568 bus:FilletedAccounts 2024-10-01 2025-09-30 SC015568 bus:SmallEntities 2024-10-01 2025-09-30 SC015568 bus:AuditExemptWithAccountantsReport 2024-10-01 2025-09-30 SC015568 bus:PrivateLimitedCompanyLtd 2024-10-01 2025-09-30 SC015568 bus:Director1 2024-10-01 2025-09-30 SC015568 bus:Director2 2024-10-01 2025-09-30 SC015568 bus:Director3 2024-10-01 2025-09-30 SC015568 2023-10-01 2024-09-30 SC015568 bus:OrdinaryShareClass1 2024-10-01 2025-09-30 SC015568 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC015568 (Scotland)

# PROPERTY REALISATION COMPANY LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH THE REGISTRAR

PROPERTY REALISATION COMPANY LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025

Contents

PROPERTY REALISATION COMPANY LIMITED

## BALANCE SHEET

AS AT 30 SEPTEMBER 2025
PROPERTY REALISATION COMPANY LIMITED

## BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investment property | 3 | 3,538,415 |  | 3,538,415
Investments | 4 | 2,036,094 |  | 1,913,054
|  | 5,574,509 |  | 5,451,469
Current assets |  |  |  |
Debtors | 5 | 5,042 |  | 21,602
Cash at bank and in hand |  | 153,473 |  | 85,014
|  | 158,515 |  | 106,616
Creditors: amounts falling due within one year | 6 | ( 148,098) |  | ( 129,794)
Net current assets/(liabilities) |  | 10,417 |  | (23,178)
Total assets less current liabilities |  | 5,584,926 |  | 5,428,291
Provision for liabilities | 7 | ( 719,767) |  | ( 714,946)
Net assets |  | 4,865,159 |  | 4,713,345
Capital and reserves |  |  |  |
Called-up share capital | 8 | 53,324 |  | 53,324
Share premium account |  | 245 |  | 245
Revaluation reserve |  | 2,413,642 |  | 2,413,642
Other reserves |  | 1,188 |  | 1,188
Profit and loss account |  | 2,396,760 |  | 2,244,946
Total shareholders' funds |  | 4,865,159 |  | 4,713,345

For the financial year ending 30 September 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Property Realisation Company Limited (registered number: SC015568) were approved and authorised for issue by the Board of Directors on 31 March 2026. They were signed on its behalf by:

Ian Alexander Macdonald Director |

PROPERTY REALISATION COMPANY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2025
PROPERTY REALISATION COMPANY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 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

Property Realisation Company 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 Suite G14, The Green House, Beechwood Park North, Inverness, IV2 3BL, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified 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 £.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rent and wayleaves received.

##### 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 Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

##### 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.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

##### 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 and bank loans, 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 | 3 |  | 3

#### 3. Investment property

| Investment property
| £
Valuation |
As at 01 October 2024 | 3,538,415
As at 30 September 2025 | 3,538,415

Valuation

The directors believe that the value of £3,538,415 is an appropriate valuation as at 30 September 2025. No depreciation is provided in respect of properties on the basis that their value is maintained through regular maintenance.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

| 2025 |  | 2024
| £ |  | £
Historic cost | 487,282 |  | 487,282

#### 4. Fixed asset investments

| Listed investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 October 2024 | 1,913,054 |  | 1,913,054
Additions | 178,286 |  | 178,286
Disposals | ( 201,025) |  | ( 201,025)
Movement in fair value | 145,779 |  | 145,779
At 30 September 2025 | 2,036,094 |  | 2,036,094
Carrying value at 30 September 2025 | 2,036,094 |  | 2,036,094
Carrying value at 30 September 2024 | 1,913,054 |  | 1,913,054

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Other debtors | 5,042 |  | 21,602

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

| 2025 |  | 2024
| £ |  | £
Taxation and social security | 15,934 |  | 8,513
Other creditors | 132,164 |  | 121,281
| 148,098 |  | 129,794

#### 7. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 714,946) |  | ( 608,556)
Charged to the Statement of Income and Retained Earnings | ( 4,821) |  | ( 106,390)
At the end of financial year | ( 719,767) |  | ( 714,946)

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
533,240 Ordinary shares of £ 0.10 each | 53,324 |  | 53,324