C.A.R.D.S Property Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

C.A.R.D.S Property Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC819827 . The registered office is 61 Hillman Road, Paisley, Scotland, PA3 3FB.

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.

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

The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company’s accounting policies. The directors are of the opinion that due to the nature of the business, there are no critical accounting estimates of judgements used in the preparation of these financial statements.

2.4. Turnover

Turnover is measured at the fair value of the rental consideration received or receivable, net of any discounts. Turnover includes rental income earned from the provision of residential property to tenants.

2.5. Financial Instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised within profit and loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the assets carrying amount and the present value of estimated future cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate of measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the assets carrying amount and the best estimate of the amount that the company would receive for the asset if it were sold at the balance sheet date.

Page 3

Page 4

C.A.R.D.S Property Ltd

Notes to the Financial Statements (continued)

For the Period 19 August 2024 to 31 August 2025

2.6. 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 period, 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.

3. Average Number of Employees

Average number of employees, including directors, during the period was: NIL

4. Investment Property

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	31 August 2025
	£
Cost	96,480

The investment property was acquired in the year therefore the directors are satisified that the cost value is reflective of the fair value.

5. Investments

	Listed
	£
Cost or Valuation
As at 19 August 2024	-
Additions	96,480

As at 31 August 2025	96,480

Provision
As at 19 August 2024	-

As at 31 August 2025	-

Net Book Value
As at 31 August 2025	96,480

As at 19 August 2024	-

Page 4

Page 5

C.A.R.D.S Property Ltd

Notes to the Financial Statements (continued)

For the Period 19 August 2024 to 31 August 2025

6. Debtors

	31 August 2025
	£
Due within one year
Prepayments and accrued income	493

7. Creditors: Amounts Falling Due Within One Year

	31 August 2025
	£
Trade creditors	354
Accruals and deferred income	728
Directors' loan accounts	1,122

	2,204

8. Creditors: Amounts Falling Due After More Than One Year

	31 August 2025
	£
Bank loans	58,042
Other creditors	50,719

	108,761

9. Secured Creditors

Of the creditors the following amounts are secured.

	31 August 2025
	£
Other Creditors	58,042

10. Share Capital

	31 August 2025
	£
Allotted, Called up and fully paid	2

11. Directors Advances, Credits and Guarantees

The directors have provided a personal guarantee in favour of the lender in relation to the property mortgage.

Page 5

Page 6

C.A.R.D.S Property Ltd

Notes to the Financial Statements (continued)

For the Period 19 August 2024 to 31 August 2025

12. Related Party Transactions

The company recieved a loan from MCM Formwork Services Limited, a company under common ownership and control of the directors. The loan has been completed at arms length consistent with the loan agreement which includes interest charge, with no fixed regular repayment term, instead a final balloon repayment of 20 years from loan agreement date with interim repayments permitted. The balance due on the loan has been included within Creditors due within one year given the option to repay in full without penalty.

During the reporting period, the directors operated loan accounts with balance due to directors at the balance sheet date being £1,122, disclosed within Other creditors due within one year. The balance is repayable on demand and interest free.

13. Controlling Party

During the year the company was under the joint control of the directors, Mr C McAusland and Mr M Robertson , who

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

Page 6

		31 August 2025
	Notes	£	£
FIXED ASSETS
Investments	5		96,480

			96,480
CURRENT ASSETS
Debtors	6	493
Cash at bank and in hand		9,829

		10,322
Creditors: Amounts Falling Due Within One Year	7	(2,204 )

NET CURRENT ASSETS (LIABILITIES)			8,118

TOTAL ASSETS LESS CURRENT LIABILITIES			104,598

Creditors: Amounts Falling Due After More Than One Year	8		(108,761 )

NET LIABILITIES			(4,163 )

CAPITAL AND RESERVES
Called up share capital	10		2
Profit and Loss Account			(4,165 )

SHAREHOLDERS' FUNDS			(4,163)

Mr C McAusland Director	Mr M Robertson Director
14/05/2026