REGISTERED NUMBER: SC649857 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Charlew Property Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G J MacDonald

SECRETARY:

MBM Secretarial Services Limited

REGISTERED OFFICE:

Suite 2, Ground Floor

Orchard Brae House

30 Queensferry Road

Edinburgh

EH4 2HS

REGISTERED NUMBER:

SC649857 (Scotland)

ACCOUNTANTS:

Jeffrey Crawford & Co

Chartered Accountants

25 Castle Terrace

Edinburgh

EH1 2ER

FIXED ASSETS

Investment property

4

2,150,000

2,050,000

CURRENT ASSETS

Debtors

5

17,442

18,625

Cash at bank

38,527

26,062

55,969

44,687

CREDITORS

Amounts falling due within one year

6

628,117

623,685

NET CURRENT LIABILITIES

(572,148

)

(578,998

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,577,852

1,471,002

CREDITORS

Amounts falling due after more than one year

7

(1,156,458

)

(1,180,851

)

PROVISIONS FOR LIABILITIES

(82,500

)

(57,500

)

NET ASSETS

338,894

232,651

CAPITAL AND RESERVES

Called up share capital

10

10

Fair value reserve

247,500

172,500

Retained earnings

91,384

60,141

338,894

232,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 24 April 2026 and were signed by:

G J MacDonald - Director

1.	STATUTORY INFORMATION

Charlew Property Limited 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.

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.

Going concern

After reviewing the company's forecasts and projections, the director is confident that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

The directors have made key assumptions in the determination of the fair value of investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

Turnover

Turnover consists of gross rental income from investment properties and is recognised on an accruals basis.

The business is not VAT registered.

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.

Subsequently investment properties whose fair value can be measured reliably on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Taxation

Taxation for the year 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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - NIL ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

2,050,000

Revaluations

100,000

At 31 December 2025

2,150,000

NET BOOK VALUE

At 31 December 2025

2,150,000

At 31 December 2024

2,050,000

Fair value at 31 December 2025 is represented by:

£

Valuation in 2024

230,000

Valuation in 2025

100,000

Cost

1,820,000

2,150,000

Investment property was valued on an open market value basis on 31 December 2025 by the director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,947

3,237

Other debtors

14,495

15,388

17,442

18,625

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

24,372

23,719

Taxation and social security

8,714

8,082

Other creditors

595,031

591,884

628,117

623,685

Included in other creditors are amounts due to the director and his other businesses totalling £588,584 (2024:£588,584). The balance due is interest free, unsecured and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,156,458

1,180,851

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,052,024

1,079,338

8.	SECURED DEBTS

Bank loans are secured by a fixed and floating charge over the assets of the company and specifically over the investment properties.