Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Belgrave Homes (Scotland) Limited
for the Year Ended 30 November 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Belgrave Homes (Scotland) Limited for the year ended 30 November 2025 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com.

This report is made solely to the Board of Directors of Belgrave Homes (Scotland) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Belgrave Homes (Scotland) Limited and state those matters that we have agreed to state to the Board of Directors of Belgrave Homes (Scotland) Limited, as a body, in this report in accordance with the requirements of The Institute of Chartered Accountants of Scotland as detailed at www.icas.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Belgrave Homes (Scotland) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Belgrave Homes (Scotland) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Belgrave Homes (Scotland) Limited. You consider that Belgrave Homes (Scotland) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Belgrave Homes (Scotland) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Mitchell Oswald Chartered Accountants
28 James Young Road
Bathgate
West Lothian
EH48 2UP

25 May 2026

Belgrave Homes (Scotland) Limited

(Registration number: SC184513)
Balance Sheet as at 30 November 2025

	Note	2025 £	2024 £
Current assets
Debtors	4	314,579	-
Cash at bank and in hand		3,611	1,561,555
		318,190	1,561,555
Creditors: Amounts falling due within one year	5	(6,659)	(1,260,369)
Net assets		311,531	301,186
Capital and reserves
Called up share capital		5,000	5,000
Retained earnings		306,531	296,186
Shareholders' funds		311,531	301,186

For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 May 2026 and signed on its behalf by:
 

......................................... D A Mackie Director

......................................... A W Mackie Director

Belgrave Homes (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
55 Market Street
Haddington
EH41 3JG

These financial statements were authorised for issue by the Board on 25 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Belgrave Homes (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Financial instruments

Classification

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and director's loans to the company.

 Recognition and measurement

Trade debtors and trade creditors are measured at the undiscounted amounts receivable from a customer or payable to a supplier, which is normally the invoice price.

Loans received from a bank at a market rate of interest are recognised at the amount of cash received from the bank, less separately incurred transaction costs.

Director's loans to the company which are repayable on demand are measured at the undiscounted amount of the cash expected to be paid.

Investments in equity shares which are publicly traded or where the fair value of the shares can be measured reliably are initially measured at fair value. Transaction costs are charged to profit or loss. The investments are subsequently remeasured in the balance sheet at fair value with changes in fair value recognised through profit and loss.

 Impairment

Trade debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in profit or loss.

Belgrave Homes (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

4

Debtors

Current	Note	2025 £	2024 £
Amounts owed by related parties	6	314,579	-
		314,579	-

5

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest	6	-	1,229,707
Taxation and social security		2,259	16,869
Accruals and deferred income		4,400	13,793
		6,659	1,260,369

6	Related party transactions

RDM Holdings Limited and Edinburgh Risk Management (General) Limited At the balance sheet date the company owed £224,776 (2024: £572,876) to its fellow subsidiary, Edinburgh Risk Management (General) Limited. The balance is unsecured, interest free and repayable on demand.

At the balance sheet date the company was owed £539,355 (2024: owed to £656,831) from its parent, RDM Holdings Limited. The balance is unsecured, interest free and repayable on demand.