REGISTERED NUMBER: SC480341 (Scotland)

TLS Properties (Moray) Ltd

Financial Statements For The Year Ended 30 June 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T Smith

Mrs L Smith

REGISTERED OFFICE:

15 MacPherson Street

Hopeman

Elgin

Moray

IV30 5TG

REGISTERED NUMBER:

SC480341 (Scotland)

ACCOUNTANTS:

The Long Partnership

4 North Guildry Street

Elgin

Moray

IV30 1JR

BANKERS:

Virgin Money

Elgin Branch

151 High Street

Elgin

Moray

IV30 1DU

FIXED ASSETS

Tangible assets

4

179

401

Investment property

5

613,660

613,660

613,839

614,061

CURRENT ASSETS

Debtors

6

676

630

Cash at bank

51,868

14,307

52,544

14,937

CREDITORS

Amounts falling due within one year

7

476,156

479,320

NET CURRENT LIABILITIES

(423,612

)

(464,383

)

TOTAL ASSETS LESS CURRENT LIABILITIES

190,227

149,678

PROVISIONS FOR LIABILITIES

8

13,494

13,459

NET ASSETS

176,733

136,219

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

176,633

136,119

SHAREHOLDERS' FUNDS

176,733

136,219

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 15 May 2026 and were signed on its behalf by:

Mr T Smith - Director

1.	STATUTORY INFORMATION

TLS Properties (Moray) 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Equipment

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 July 2024

3,957

Disposals

(1,224

)

At 30 June 2025

2,733

DEPRECIATION

At 1 July 2024

3,556

Charge for year

99

Eliminated on disposal

(1,101

)

At 30 June 2025

2,554

NET BOOK VALUE

At 30 June 2025

179

At 30 June 2024

401

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2024

and 30 June 2025

613,660

NET BOOK VALUE

At 30 June 2025

613,660

At 30 June 2024

613,660

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

£

Other debtors

676

630

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

£

Trade creditors

1,301

2,511

Taxation and social security

18,674

8,831

Other creditors

456,181

467,978

476,156

479,320

8.	PROVISIONS FOR LIABILITIES

30.6.25

30.6.24

£

£

Deferred tax

13,494

13,459

Deferred

tax

£

Balance at 1 July 2024

13,459

Provided during year

35

Balance at 30 June 2025

13,494

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.25

30.6.24

value:

£

£

50

Ordinary

1

50

50

50

A ordinary

1

50

50

100

100

10.

RESERVES

Retained

earnings

£

At 1 July 2024

136,119

Profit for the year

40,514

At 30 June 2025

176,633

11.	RELATED PARTY DISCLOSURES

At 30 June 2024 the company owed the directors £51. During the year the director met expenses of £450 on behalf of the company. At 30 June 2025 the company owed £501 to the directors. This loan is interest free and has no fixed terms of repayment.

As at 30 June 2024 the company owed TLS Joinery Ltd, a company under common control, £466,447. During the year the company repaid £11,887 to TLS Joinery Ltd. As at 30 June 2025 the company owed TLS Joinery Ltd £454,560. This loan is interest free and has no fixed terms of repayment.