REGISTERED NUMBER: SC469235 (Scotland)

Financial Statements For The Year Ended 31 July 2025

for

Latta Property Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M C Latta

F Latta

REGISTERED OFFICE:

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

REGISTERED NUMBER:

SC469235 (Scotland)

ACCOUNTANTS:

Robb Ferguson Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Tangible assets

4

2,824

5,029

Investments

5

7,000

7,000

Investment property

6

705,001

572,568

714,825

584,597

CURRENT ASSETS

Debtors

17,652

70,478

Cash at bank

1,174

78

18,826

70,556

CREDITORS

Amounts falling due within one year

246,409

174,947

NET CURRENT LIABILITIES

(227,583

)

(104,391

)

TOTAL ASSETS LESS CURRENT LIABILITIES

487,242

480,206

CREDITORS

Amounts falling due after more than one year

7

(199,482

)

(329,317

)

PROVISIONS FOR LIABILITIES

(33,814

)

-

NET ASSETS

253,946

150,889

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

98,619

-

Retained earnings

155,227

150,789

SHAREHOLDERS' FUNDS

253,946

150,889

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 July 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2026 and were signed on its behalf by:

F Latta - Director

1.	STATUTORY INFORMATION

Latta 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.

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.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably;

- and the costs incurred and the costs to complete the contract can be measured reliably.

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

-

33.33% on cost

Investment property

Investment property is carried at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the fair value reserve.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the statement of comprehensive income. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the statement of comprehensive income..

Taxation and deferred tax

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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the statement of financial position date are reported at the rates of exchange prevailing at that date. All exchange differences are included in the income statement.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2024

and 31 July 2025

9,390

DEPRECIATION

At 1 August 2024

4,361

Charge for year

2,205

At 31 July 2025

6,566

NET BOOK VALUE

At 31 July 2025

2,824

At 31 July 2024

5,029

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 August 2024

and 31 July 2025

7,000

NET BOOK VALUE

At 31 July 2025

7,000

At 31 July 2024

7,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2024

572,568

Revaluations

132,433

At 31 July 2025

705,001

NET BOOK VALUE

At 31 July 2025

705,001

At 31 July 2024

572,568

Fair value at 31 July 2025 is represented by:

£

Valuation in 2025

705,001

If the investment properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

572,568

573,568

The investment properties were valued on an open market basis basis on 31 July 2025 by the directors .

The directors confirm that the above valuation is a reasonable representation of current fair value of the investment property.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2025

2024

£

£

Repayable by instalments

Bank loans more than 5 years

153,789

67,930

Other loans more 5yrs instal

-

71,250

153,789

139,180

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Other loans

-

71,250

Bank loans

253,412

271,596

253,412

342,846

Standard security is held over the property and a floating charge over all assets owned by the company.

9.	RELATED PARTY DISCLOSURES

Latta Law Limited

The above company has common directors. The amount owed to Latta Property at the year ending 31st July 2025 is £3,868 (2024 - £70,214 owed to Latta Law).

Mackluci Limited

The above company has common directors. The amount owed to Mackluci at the year ending 31st July 2025 is £4,043 (2024 - £62,694 owed from Mackluci Limited).

Latta International Ltd

The above company has common directors. The amount owed to Latta International at the year ending 31st July 2025 is £4,915.

Wood 8 Limited

The above company has common directors. The amount owed to from Wood 8 at the year ending 31st July 2025 is £606 (2024 - £606)