Toscaig Homes Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC652449 (Scotland)

Financial Statements for the Year Ended 31 January 2026

for

Toscaig Homes Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Dr. R P Macleod

REGISTERED OFFICE:

10 Glenburn Gardens

Crocketford

Dumfries

DG2 8BS

REGISTERED NUMBER:

SC652449 (Scotland)

ACCOUNTANTS:

Tawse & Partners

Chartered Accountants

18 North Silver Street

Aberdeen

AB10 1JU

FIXED ASSETS

Investment property

5

190,000

CURRENT ASSETS

Debtors

6

157

141

Cash at bank

8,076

17,297

8,233

17,438

CREDITORS

Amounts falling due within one year

7

160,772

177,960

NET CURRENT LIABILITIES

(152,539

)

(160,522

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

37,461

29,478

PROVISIONS FOR LIABILITIES

4,358

NET ASSETS

33,103

25,120

CAPITAL AND RESERVES

Called up share capital

9

1

Fair value reserve

10

22,940

Retained earnings

10,162

2,179

SHAREHOLDERS' FUNDS

33,103

25,120

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 15 June 2026 and were signed by:

Dr. R P Macleod - Director

1.	STATUTORY INFORMATION

Toscaig Homes Ltd 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover and other income recognition

Turnover is measured at fair value of the consideration received or receivable net of VAT and discounts. The policies adopted for the recognition of turnover are as follows:

Rental Property

Rental income is recognised based on monthly rental periods, in accordance with property rental agreements.

Investment property

Investments property for which fair value can be measured reliably without undue cost of effort are measured at fair value at each reporting date which changes in the fair value recognised in the Income Statement. Deferred tax is provided on any gains at the rate expected to apply when the property is sold.

Fair Value is based on property market values.

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.

Deferred tax on revalued investment properties is measured using the rates and allowances that apply to the reversal of the timing differences.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2025 - NIL).

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2025

and 31 January 2026

190,000

NET BOOK VALUE

At 31 January 2026

190,000

At 31 January 2025

190,000

Fair value at 31 January 2026 is represented by:

£

Valuation in 2022

16,700

Valuation in 2023

4,000

Valuation in 2024

2,240

Cost

167,060

190,000

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

31.1.26

31.1.25

£

Cost

167,060

Investment property was valued on an open market basis on 31 January 2026 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

Other debtors

157

141

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

Taxation and social security

1,872

1,123

Other creditors

158,900

176,837

160,772

177,960

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.26

31.1.25

£

Loan

60,000

135,000

Alison Macleod holds a standard security over the company's property at 21 St Joseph's Court, Dundee.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.26

31.1.25

value:

£

1

Ordinary

1

10.

RESERVES

Fair

value

reserve

£

At 1 February 2025

and 31 January 2026

22,940