Registration number: SC221097

J.I. Properties (Scotland) Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

J.I. Properties (Scotland) Limited

Company Information

Directors

I Watt J Watt

Registered office

Unit 26, Dunfermline Business Centre Izatt Avenue Dunfermline Fife KY11 3BZ

Accountants

M&S Accountancy and Taxation Limited Unit 26, Dunfermline Business Centre Izatt Avenue Dunfermline Fife KY11 3BZ

J.I. Properties (Scotland) Limited

(Registration number: SC221097)
Balance Sheet as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	24,398	-
Investment property	5	1,730,000	2,142,500
		1,754,398	2,142,500
Current assets
Debtors	6	170,382	53,492
Investments	7	100	100
Cash at bank and in hand		134,186	190,877
		304,668	244,469
Creditors: Amounts falling due within one year	8	(41,045)	(11,383)
Net current assets		263,623	233,086
Total assets less current liabilities		2,018,021	2,375,586
Creditors: Amounts falling due after more than one year	8	(1,050,692)	(1,387,417)
Provisions for liabilities		(215,936)	(190,372)
Net assets		751,393	797,797
Capital and reserves
Called up share capital	9	100	100
Revaluation reserve		629,508	811,588
Retained earnings		121,785	(13,891)
Shareholders' funds		751,393	797,797

J.I. Properties (Scotland) Limited

(Registration number: SC221097)
Balance Sheet as at 30 September 2025

For the financial year ending 30 September 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 23 June 2026 and signed on its behalf by:
 

......................................... I Watt Director

J.I. Properties (Scotland) Limited

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

1	General information

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

The address of its registered office is:
Unit 26, Dunfermline Business Centre
Izatt Avenue
Dunfermline
Fife
KY11 3BZ

These financial statements were authorised for issue by the Board on 23 June 2026.

2	Accounting policies

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.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of VAT and trade discounts. Turnover is recognised on the accruals basis.

Tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

J.I. Properties (Scotland) Limited

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

Tangible assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment.

Depreciation

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Asset class	Depreciation method and rate
Motor vehicles	25% Straight line

Investment property

Investment property, which is property held to earn rentals and/or capital appreciations, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Adjustments in fair value are recognised as changes in equity.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

Financial instruments

Classification
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

J.I. Properties (Scotland) Limited

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

4	Tangible assets

	Motor vehicles  £	Total £
Cost or valuation
Additions	30,818	30,818
At 30 September 2025	30,818	30,818
Depreciation
Charge for the year	6,420	6,420
At 30 September 2025	6,420	6,420
Carrying amount
At 30 September 2025	24,398	24,398

5	Investment properties

	2025 £
At 1 October	2,142,500
Disposals	(462,500)
Fair value adjustments	50,000
At 30 September	1,730,000

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		920	3,600
Amounts owed by related parties	11	169,166	47,900
Other debtors		296	1,992
		170,382	53,492

7	Current asset investments

	2025 £	2024 £
Shares in group undertakings	100	100

J.I. Properties (Scotland) Limited

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

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Trade creditors	-	908
Taxation and social security	26,925	-
Accruals and deferred income	2,130	2,130
Other creditors	11,990	8,345
	41,045	11,383

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Loans and borrowings		1,050,692	1,387,417

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
A ordinary shares of £1 each	50	50	50	50
B ordinary shares of £1 each	30	30	30	30
C ordinary shares of £1 each	10	10	10	10
D ordinary shares of £1 each	10	10	10	10
	100	100	100	100

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on property, plant and equipment revaluation	(182,080)	(182,080)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

J.I. Properties (Scotland) Limited

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

	Revaluation reserve £	Total £
Surplus/deficit on property, plant and equipment revaluation	(98,057)	(98,057)

11	Related party transactions

Summary of transactions with other related parties

The amount due from Karenza Limited was £144,000 at 30 September 2025 (2024: £24,000). The amount due from J.I. Conversions Limited was £25,166 at 30 September 2025 (2024: £23,900). The balances are unsecured and repayable on demand, with no fixed terms of repayment. No interest is charged on the outstanding balances.