Groves-Raines Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC152187 (Scotland)

Unaudited Financial Statements for the Year Ended 31 August 2025

for

Groves-Raines Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N R P Groves-Raines

G R Groves-Raines

Mrs K H Hannesdottir

SECRETARY:

As Company Services Limited

REGISTERED OFFICE:

Custom Lane

1 Customs Whart

Edinburgh

MIDLOTHIAN

EH6 6AL

REGISTERED NUMBER:

SC152187 (Scotland)

ACCOUNTANTS:

Cowan & Partners Limited

60 Constitution Street

Edinburgh

EH6 6RR

FIXED ASSETS

Tangible assets

4

43,895

60,159

Investments

5

25,000

Investment property

6

3,500,000

3,568,895

3,585,159

CURRENT ASSETS

Debtors

7

240,748

26,520

Cash at bank

25,821

4,798

266,569

31,318

CREDITORS

Amounts falling due within one year

8

100,254

115,294

NET CURRENT ASSETS/(LIABILITIES)

166,315

(83,976

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,735,210

3,501,183

CREDITORS

Amounts falling due after more than one year

9

(412,274

)

(139,072

)

PROVISIONS FOR LIABILITIES

(191,622

)

(191,622

)

NET ASSETS

3,131,314

3,170,489

CAPITAL AND RESERVES

Called up share capital

34,002

Revaluation reserve

11

309,686

Capital redemption reserve

71,600

Fair value reserve

11

808,378

Retained earnings

1,907,648

1,946,823

3,131,314

3,170,489

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 29 May 2026 and were signed on its behalf by:

G R Groves-Raines - Director

1.	STATUTORY INFORMATION

Groves-Raines Properties 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.

Tangible fixed assets

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

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Land and buildings have been measured using the revaluation model, with the asset carried at the revalued amount, being its fair value at the date of revaluation less any subsequent accumulated depreciation and impairment losses. Revaluations shall be made with sufficient regularity to ensure that the carrying amount does not differ materially from the fair value at the reporting date. Any gains or losses will be recognised in other comprehensive income and accumulated in the revaluation reserve.

At the balance sheet date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Bank and other loans are shown at amortised cost, with interest and up front charges in connection with the loans being allocated to accounting periods by applying the effective interest rate method.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

COST

At 1 September 2024

and 31 August 2025

13,845

4,643

81,322

99,810

DEPRECIATION

At 1 September 2024

13,845

4,643

21,163

39,651

Charge for year

-

16,264

At 31 August 2025

13,845

4,643

37,427

55,915

NET BOOK VALUE

At 31 August 2025

-

43,895

At 31 August 2024

-

60,159

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2024

and 31 August 2025

25,000

NET BOOK VALUE

At 31 August 2025

25,000

At 31 August 2024

25,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

and 31 August 2025

3,500,000

NET BOOK VALUE

At 31 August 2025

3,500,000

At 31 August 2024

3,500,000

Investment property was revalued by independent surveyors Graham + Sibbald LLP post year-end on 12 November 2024. The Directors believe this to have been fair value at the Balance Sheet date and have therefore included this revaluation in the year ended 31 August 2024.

Fair value at 31 August 2025 is represented by:

£

Valuation in 2024

1,000,000

Cost

2,500,000

3,500,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

Trade debtors

168,501

25,570

Amounts owed by group undertakings

62,611

-

Amounts owed by participating interests

3,013

950

Other debtors

6,623

-

240,748

26,520

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

Trade creditors

4,614

2,955

Taxation and social security

1,355

1,360

Other creditors

94,285

110,979

100,254

115,294

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.25

31.8.24

£

Other creditors

412,274

139,072

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.25

31.8.24

£

Santander UK Plc loan

446,067

172,864

Santander UK Plc holds a floating and fixed charges over the assets of the company

11.

RESERVES

Fair

Revaluation

value

reserve

Totals

£

At 1 September 2024

and 31 August 2025

309,686

808,378

1,118,064