Kingslea Developments Limited

	Page
Accountants' Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—8

Report to the directors on the preparation of the unaudited statutory accounts of Kingslea Developments Limited for the year ended 31 July 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Kingslea Developments Limited for the year ended 31 July 2025 which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company's accounting records and from information and explanations you have given to us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts.

This report is made solely to the directors of Kingslea Developments Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Kingslea Developments Limited and state those matters that we have agreed to state to the directors of Kingslea Developments Limited , as a body, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kingslea Developments Limited and its directors, as a body, for our work or for this report.

It is your duty to ensure that Kingslea Developments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Kingslea Developments Limited . You consider that Kingslea Developments Limited 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 Kingslea Developments Limited . 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.

24/04/2026

GMH Chartered Accountants

Pavilion 3, Suite 2

St James Business Park

Paisley

Renfrewshire

PA3 3BB

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Kingslea Developments Limited

Balance Sheet

As At 31 July 2025

Balance Sheet

Registered number: SC233559

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		161,774		162,364

			161,774		162,364
CURRENT ASSETS
Debtors	5	258		226
Cash at bank and in hand		11,153		13,973

		11,411		14,199
Creditors: Amounts Falling Due Within One Year	6	(84,985 )		(94,183 )

NET CURRENT ASSETS (LIABILITIES)			(73,574 )		(79,984 )

TOTAL ASSETS LESS CURRENT LIABILITIES			88,200		82,380

PROVISIONS FOR LIABILITIES
Deferred Taxation	7		(2,668 )		(2,354 )

NET ASSETS			85,532		80,026

CAPITAL AND RESERVES
Called up share capital			2		2
Fair value reserve	10		57,687		57,687
Profit and Loss Account			27,843		22,337

SHAREHOLDERS' FUNDS			85,532		80,026

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Kingslea Developments Limited

Balance Sheet (continued)

As At 31 July 2025

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr D A Adamson

Director

23/04/2026

The notes on pages 4 to 8 form part of these financial statements.

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Kingslea Developments Limited

Notes to the Financial Statements

For The Year Ended 31 July 2025

Notes to the Financial Statements

1. General Information

Kingslea Developments Limited is a private company, limited by shares, incorporated in Scotland, registered number SC233559 . The registered office is 50 Buchanan Street, Milngavie, Glasgow, G62 8AP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

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

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Significant judgements and estimations

In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where

appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending

on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life

cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as

future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a

decision made on possible impairment. Factors taken into consideration in reaching such a decision include the

economic viability and expected future financial performance of the asset and where it is a component of a larger

cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes with revenue earned from the rental of property. The following criteria must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided when all of

the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due;

- the costs incurred can be measured reliably.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Nil
Fixtures & Fittings	15% on cost
Computer Equipment	25% on cost

Property held for investment purposes is not depreciated as required by Schedule 4 to the Companies Act, 2006.

Investment properties, which are all freehold, are valued at fair value at 31st March 2019 by the directors of the

company. The directors have used current market value and rateable value to determine the fair value of

properties at the balance sheet date. No independent professional valuation has been carried out in the year.

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Kingslea Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

2.6. Financial Instruments

The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 '

Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are

recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the

instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements,

when there is a legally enforceable right to set off the recognised amounts and there is an intention 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 transactions 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are

settled, or when the Company transfers the financial asset and substantially all the risks and rewards of

ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the

asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, 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.

2.7. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Kingslea Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

2.8. 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 profit or loss as described

below.

Non-financial assets

An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after

initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an

asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine

reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable

value does not lead to a revised carrying amount higher than the carrying value had no impairment been

recognised.

Financial assets

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's

carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original

effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's

carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at

the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event

occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.

An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable

value does not lead to a revised carrying amount higher than the carrying value had no impairment been

recognised.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

4. Tangible Assets

	Land & Property
	Freehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 August 2024	160,000	1,497	2,517	164,014

As at 31 July 2025	160,000	1,497	2,517	164,014

Depreciation
As at 1 August 2024	-	1,492	158	1,650
Provided during the period	-	-	590	590

As at 31 July 2025	-	1,492	748	2,240

Net Book Value
As at 31 July 2025	160,000	5	1,769	161,774

As at 1 August 2024	160,000	5	2,359	162,364

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Kingslea Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

Cost or valuation as at 31 July 2025 represented by:

	Land & Property
	Freehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
At cost	100,388	1,497	2,517	104,402
At valuation	59,612	-	-	59,612

	160,000	1,497	2,517	164,014

Historic valuations are represented by:

Valuation 2011 £ 15,000

Valuation 2019 £ 44,612

Properties held are investment properties. These assets are valued at fair value through the profit and loss accoutn. Any fiar value gains and losses are transferred to a fair value reserve along with deferred tax arising on these fair value adjustments.

5. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	258	226

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Other creditors	83,247	93,096
Taxation and social security	1,738	1,087

	84,985	94,183

7. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	2,668	2,354

8. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 August 2024	2,354	2,354
Deferred taxation	314	314

Balance at 31 July 2025	2,668	2,668

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Kingslea Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

9. Dividends

	2025	2024
	£	£
On equity shares:
Interim dividend paid	1,000	1,000

10. Reserves

	Fair value reserve	Profit and Loss Account
	£	£
As at 1 August 2024	57,687	22,337
Profit for the year and total comprehensive income	-	6,506

Dividends paid	-	(1,000)

As at 31 July 2025	57,687	27,843

11. Related Party Transactions

Included within creditors is a balance due to the directors accounting to £81,876 (2024 - £91,126). The balance

is repayable on demand and interest free

12. Controlling Party

During the year the company was under the joint control of the directors, J Adams and D A Adamson , who

together owned all of the issued share capital of the company.

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