| Umerkot Properties Ltd |
| Registered number: |
SC822985 |
| Balance Sheet |
| as at 30 September 2025 |
|
| Notes |
|
|
2025 |
|
| £ |
|
| Fixed assets |
| Investments |
3 |
|
|
473,490 |
|
| Current assets |
| Cash at bank and in hand |
|
|
2,011 |
|
| Creditors: amounts falling due within one year |
4 |
|
(372,411) |
|
| Net current liabilities |
|
|
|
(370,400) |
|
|
| Total assets less current liabilities |
|
|
|
103,090 |
|
|
| Creditors: amounts falling due after more than one year |
5 |
|
|
(106,768) |
|
|
|
| Net liabilities |
|
|
|
(3,678) |
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
| Profit and loss account |
|
|
|
(3,679) |
|
| Shareholders' funds |
|
|
|
(3,678) |
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr P Sethi |
| Director |
| Approved by the board on 1 June 2026 |
|
| Umerkot Properties Ltd |
| Notes to the Accounts |
| for the year ended 30 September 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Other operating income is recognised at the fair value of the consideration received or receivable in respect of rental income. Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. |
|
|
Investment properties |
|
Investment properties comprises a commercial property from which rental income is derived. Investment properties are carried at their revalued amounts, being fair value at the date of valuation less subsequent depreciation and impairment losses. Revaluations are performed by professional qualified valuers with sufficient regularity to ensure that the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset.
Any revaluation increase in the carrying amount of investment properties is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is credited to profit and loss to the extent of the decrease previously expended. Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset are recognised in profit or loss. Each year the difference between depreciation based on the revalued carrying amount of the asset recognised in profit or loss and depreciation based on the asset’s original cost is transferred from revaluation reserve to retained earnings. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2025 |
|
| Number |
|
|
|
Average number of persons employed by the company |
0 |
|
|
|
|
|
|
|
|
|
| 3 |
Investment property |
|
| £ |
|
Cost |
|
Additions |
473,490 |
|
|
At 30 September 2025 |
473,490 |
|
|
Income from fixed asset investments represents rental income from investment property. The investment properties were purchased in 2025. The fair values of the property at March 2025 have been arrived at on the basis of purchase value, asscociated stamp duty where applicable and legal fees.
The historic cost of the investment property was £473,490 (2024: £Nil) and the aggregate
depreciation thereon would have been £Nil (2024: £Nil). |
|
|
| 4 |
Creditors: amounts falling due within one year |
2025 |
|
| £ |
|
|
|
Bank loans and overdrafts |
5,247 |
|
Accrued charges |
540 |
|
Other creditors |
366,624 |
|
|
|
|
|
|
372,411 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due after one year |
2025 |
|
| £ |
|
|
|
Bank loans |
106,768 |
|
|
|
|
|
|
|
|
|
| 6 |
Loans |
2025 |
|
| £ |
|
|
Creditors include: |
|
|
Secured bank loans |
106,768 |
|
|
|
|
|
|
|
|
|
The Mortgage Works has a registered charge against the two investment properties. |
|
|
| 7 |
Other information |
|
|
Umerkot Properties Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is: |
|
6/8 Portland Gardens |
|
Edinburgh |
|
EH6 6NJ |