REGISTERED NUMBER: SC510396 (Scotland)

Financial Statements

for the Year Ended 31 August 2025

for

Reid & Lovell Property Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms M P Lovell

H H B Reid

REGISTERED OFFICE:

214 Terregles Avenue

Glasgow

G41 4RR

REGISTERED NUMBER:

SC510396 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Tangible assets

3

482

566

Investments

4

542,444

373,129

Investment property

5

1,990,000

2,100,000

2,532,926

2,473,695

CURRENT ASSETS

Stocks

26,000

-

Debtors

6

11,845

7,835

Cash at bank

276,978

343,296

314,823

351,131

CREDITORS

Amounts falling due within one year

7

95,110

61,040

NET CURRENT ASSETS

219,713

290,091

TOTAL ASSETS LESS CURRENT LIABILITIES

2,752,639

2,763,786

CAPITAL AND RESERVES

Called up share capital

8

200

200

Share premium

2,447,564

2,447,564

Retained earnings

304,875

316,022

SHAREHOLDERS' FUNDS

2,752,639

2,763,786

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 21 May 2026 and were signed on its behalf by:

H H B Reid - Director

1.	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

The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Tangible fixed assets

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

Fixtures and fittings

-

15% 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.

Inventories

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Impairment of fixed assets

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an 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.

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2024

and 31 August 2025

784

DEPRECIATION

At 1 September 2024

218

Charge for year

84

At 31 August 2025

302

NET BOOK VALUE

At 31 August 2025

482

At 31 August 2024

566

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 September 2024

373,129

Additions

201,221

Disposals

(58,264

)

Revaluations

26,358

At 31 August 2025

542,444

NET BOOK VALUE

At 31 August 2025

542,444

At 31 August 2024

373,129

Cost or valuation at 31 August 2025 is represented by:

Other

investments

£

Valuation in 2025

542,444

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

2,100,000

Disposals

(110,000

)

At 31 August 2025

1,990,000

NET BOOK VALUE

At 31 August 2025

1,990,000

At 31 August 2024

2,100,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

4,010

-

Other debtors

7,835

7,835

11,845

7,835

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

25,474

16,082

Other creditors

69,636

44,958

95,110

61,040

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

200

Ordinary

£1

200

200