REGISTERED NUMBER: SC134555 (Scotland)

Unaudited Financial Statements

for the Period 1 February 2025 to 25 June 2025

for

Kaas Properties Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Inglis

Mrs A J Inglis

SECRETARY:

Mrs A J Inglis

REGISTERED OFFICE:

c/o Cowan & Partners Limited

60 Constitution Street

Leith

Edinburgh

MIDLOTHIAN

EH6 6RR

REGISTERED NUMBER:

SC134555 (Scotland)

ACCOUNTANTS:

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

FIXED ASSETS

Tangible assets

4

5,716

7,916

Investments

5

100

100

Investment property

6

10,071,580

10,071,580

10,077,396

10,079,596

CURRENT ASSETS

Stocks

152,214

152,214

Debtors

7

109,829

148,315

Cash at bank

141,696

2,763

403,739

303,292

CREDITORS

Amounts falling due within one year

8

414,296

275,578

NET CURRENT (LIABILITIES)/ASSETS

(10,557

)

27,714

TOTAL ASSETS LESS CURRENT LIABILITIES

10,066,839

10,107,310

CREDITORS

Amounts falling due after more than one year

9

(2,557,000

)

(2,596,000

)

PROVISIONS FOR LIABILITIES

(719,537

)

(720,059

)

NET ASSETS

6,790,302

6,791,251

CAPITAL AND RESERVES

Called up share capital

524,330

524,330

Revaluation reserve

11

2,965,211

2,965,211

Retained earnings

3,300,761

3,301,710

SHAREHOLDERS' FUNDS

6,790,302

6,791,251

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 25 June 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 25 June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2026 and were signed on its behalf by:

A J Inglis - Director

1.	STATUTORY INFORMATION

Kaas Properties Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

At the end of each accounting period, assets are reviewed and any impairment is recognised to the profit and loss account.

Investment property

Investment property is measured at fair value, based on an assessment of the open market value for similar assets in a similar condition and location. Where such a measure is unavailable, assets are held at cost less impairment.

Stocks

Work in progress is valued based on the costs of works done, less any impairment.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Other operating income

Rental income, excluding value added tax is included in other operating income. The company's policy is to recognise income when the company obtains the right to consideration.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2025 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 February 2025

87,281

3,797

91,078

Additions

2,425

1,031

3,456

At 25 June 2025

89,706

4,828

94,534

DEPRECIATION

At 1 February 2025

79,365

3,797

83,162

Charge for period

5,174

482

5,656

At 25 June 2025

84,539

4,279

88,818

NET BOOK VALUE

At 25 June 2025

5,167

549

5,716

At 31 January 2025

7,916

-

7,916

No indicators of impairment were noted in the year.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 February 2025

and 25 June 2025

100

NET BOOK VALUE

At 25 June 2025

100

At 31 January 2025

100

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2025

and 25 June 2025

10,071,580

NET BOOK VALUE

At 25 June 2025

10,071,580

At 31 January 2025

10,071,580

Fair value at 25 June 2025 is represented by:

£

Valuation in 2004

1,700,919

Valuation in 2011

(395,230

)

Valuation in 2014

(25,000

)

Valuation in 2018

455,000

Valuation in 2021

1,138,531

Cost

7,197,360

10,071,580

Investment properties were valued on an open market basis on 12 December 2021 by Graham & Sibbald, Chartered Surveyors .

The directors believe that the above valuation represents fair value for the properties at the balance sheet date.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

25.6.25

31.1.25

£

£

Trade debtors

3,145

-

Other debtors

106,684

148,315

109,829

148,315

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

25.6.25

31.1.25

£

£

Bank loans and overdrafts

156,000

156,000

Amounts owed to group undertakings

100

100

Taxation and social security

115,508

82,943

Other creditors

142,688

36,535

414,296

275,578

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

25.6.25

31.1.25

£

£

Bank loans

2,557,000

2,596,000

25.6.25

31.1.25

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loan - over 5 years

1,933,000

1,972,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

25.6.25

31.1.25

£

£

Bank loans

2,713,000

2,752,000

Svenska Handelsbanken AB has a bond and floating charge over the assets of the company and has standard securities over investment properties held by the company.

The Royal Bank of Scotland are also registered as holding charges over assets of the company. Such securities have been satisfied and the directors are taking measures to update these on the public record.

11.

RESERVES

Revaluation

reserve

£

At 1 February 2025

and 25 June 2025

2,965,211

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the Directors, A J Inglis and Mrs A J Inglis who hold the majority of the share capital of the company.