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Registration number: SC486299

Netherlea Properties Limited
Unaudited Financial Statements
for the Year Ended 30 September 2025

Netherlea Properties Limited

Contents

Statement of Financial Position | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 6

Netherlea Properties Limited

(Registration number: SC486299)
Statement of Financial Position as at 30 September 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 1,781 | 1,966
Investment property | 5 | 1,900,000 | 1,488,408
|  | 1,901,781 | 1,490,374
Current assets |  |  |
Debtors | 6 | 893 | 1,034
Cash at bank and in hand |  | 38,153 | 15,245
|  | 39,046 | 16,279
Creditors: Amounts falling due within one year | 7 | (691,284) | (674,683)
Net current liabilities |  | (652,238) | (658,404)
Total assets less current liabilities |  | 1,249,543 | 831,970
Creditors: Amounts falling due after more than one year | 7 | (478,447) | (515,069)
Provisions for liabilities |  | (102,898) | -
Net assets |  | 668,198 | 316,901
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings | 8 | 668,098 | 316,801
Shareholders' funds |  | 668,198 | 316,901

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 accounts for the year in question in accordance with section 476; and
• | The Directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 Directors have not delivered to the registrar a copy of the Income Statement.

Netherlea Properties Limited

(Registration number: SC486299)
Statement of Financial Position as at 30 September 2025

Approved and authorised by the Board on 22 January 2026 and signed on its behalf by:

D Healy Director

Netherlea Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

1 | General information

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

The address of its registered office is:
29 Commercial Street
Dundee
Tayside
DD1 3DG
Scotland

The principal place of business is:
Fairways
1a Castleroy Road
Broughty Ferry
Dundee
DD5 2LQ

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change 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.

Netherlea Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Equipment | 33% Reducing Balance

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.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, 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 | Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 1 (2024 - 1).

Netherlea Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 October 2024 | 2,677 | 2,677
Additions | 520 | 520
At 30 September 2025 | 3,197 | 3,197
Depreciation
At 1 October 2024 | 711 | 711
Charge for the year | 705 | 705
At 30 September 2025 | 1,416 | 1,416
Carrying amount
At 30 September 2025 | 1,781 | 1,781
At 30 September 2024 | 1,966 | 1,966

5 | Investment properties

| 2025 £
At 1 October 2024 | 1,488,408
Additions | -
Disposals | -
Fair value adjustments | 411,592
At 30 September 2025 | 1,900,000

The last valuation of the properties was at 30 September 2025 by the directors and they are of the opinion that they are stated at fair value in these accounts.

6 | Debtors

| 2025 £ | 2024 £
Other debtors | - | 100
Prepayments | 893 | 934
| 893 | 1,034

Netherlea Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings |  | 37,515 | 37,516
Taxation and social security |  | 15,006 | 17,135
Accruals and deferred income |  | 994 | 312
Other creditors |  | 637,769 | 619,720
|  | 691,284 | 674,683

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings |  | 478,447 | 515,069

8 | Reserves

| 2025 |  | 2024
| £ |  | £
Distributable reserve - profit and loss | 359,404 |  | 316,801
Non-distributable reserve - investment property revaluation | 411,592 |  | -
Non-distributable reserve - deferred tax on investment property | (102,898) |  | -
| 668,098 |  | 316,801

9 | Dividends

Interim dividends paid

|  | 2025 £ |  | 2024 £
Interim dividend of £500.00 (2024 - £1,000.00) per each Ordinary B |  | 500 |  | 1,000
Interim dividend of £12,482.10 (2024 - £9,202.97) per each Ordinary A |  | 12,482 |  | 9,203
|  | 12,982 |  | 10,203