Company registration number SC461478 (Scotland)
KILMUN PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
KILMUN PROPERTIES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
KILMUN PROPERTIES LTD
BALANCE SHEET
AS AT
30 MARCH 2025
30 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
2,341,897
2,852,067
Current assets
Debtors
2,722
4,309
Cash at bank and in hand
30,571
117,691
33,293
122,000
Creditors: amounts falling due within one year
5
(113,246)
(90,333)
Net current (liabilities)/assets
(79,953)
31,667
Total assets less current liabilities
2,261,944
2,883,734
Creditors: amounts falling due after more than one year
6
(1,127,682)
(1,551,018)
Net assets
1,134,262
1,332,716
Capital and reserves
Called up share capital
10
10
Revaluation reserve
7
736,388
964,728
Profit and loss reserves
397,864
367,978
Total equity
1,134,262
1,332,716

For the financial year ended 30 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 25 March 2026
Miss J McArthur
Director
Company registration number SC461478 (Scotland)
KILMUN PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2025
- 2 -
1
Accounting policies
Company information

Kilmun Properties Ltd is a private company limited by shares incorporated in Scotland. The registered office is 6th Floor, Gordon Chambers, 90 Mitchell Street, Glasgow, United Kingdom, G1 3NQ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

KILMUN PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
- 3 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
2
4
Investment property
2025
£
Fair value
At 31 March 2024
2,852,067
Disposals
(510,170)
At 30 March 2025
2,341,897
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,000
10,000
Other borrowings
36,455
36,455
Corporation tax
22,099
21,229
Other taxation and social security
236
639
Other creditors
22,446
-
0
Accruals and deferred income
22,010
22,010
113,246
90,333
KILMUN PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
- 4 -
6
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
1,238
11,667
Other borrowings
1,072,359
1,076,214
Other creditors
36,585
445,637
Accruals and deferred income
17,500
17,500
1,127,682
1,551,018
7
Revaluation reserve
2025
2024
£
£
At the beginning of the year
964,728
1,014,438
Other movements
(228,340)
(49,710)
At the end of the year
736,388
964,728
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