Appin Property Lettings Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Appin Property Lettings Limited is a private company, limited by shares, incorporated in Scotland, registered number SC615120 . The registered office is 5 South Charlotte Street, Edinburgh, EH2 4AN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Nil — investment property held at fair value
Fixtures & Fittings	20% reducing balance

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the Profit and Loss Account.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

...CONTINUED

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Appin Property Lettings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.5. Taxation - continued

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

4. Tangible Assets

	Land & Property
	Freehold	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 October 2024	5,032,948	69,589	5,102,537

As at 30 September 2025	5,032,948	69,589	5,102,537

Depreciation
As at 1 October 2024	-	21,547	21,547
Provided during the period	-	6,959	6,959

As at 30 September 2025	-	28,506	28,506

Net Book Value
As at 30 September 2025	5,032,948	41,083	5,074,031

As at 1 October 2024	5,032,948	48,042	5,080,990

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,791	2,248
Amounts owed by group undertakings	115,000	-
Other debtors	6,230	59,240

	123,021	61,488
Due after more than one year
Amounts owed by group undertakings	1,216,934	1,040,218

	1,339,955	1,101,706

6. Current Asset Investments

	2025	2024
	£	£
Unlisted investments	50	50

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Appin Property Lettings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	4,975	18,315
Other creditors	-	18
Taxation and social security	1,308	18,094

	6,283	36,427

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Amounts owed to group undertakings	150	-

9. Deferred Taxation

The deferred tax provision relates principally to timing differences arising from accelerated capital allowances claimed for corporation tax purposes in excess of the depreciation charged in the financial statements. The liability represents the taxation effect of the difference between the tax written down value of the assets and their carrying value in the financial statements, which is expected to reverse in future periods.

	2025	2024
	£	£
Other timing differences	130,323	132,023

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

11. Reserves

	Revaluation reserve	Profit and Loss Account
	£	£
As at 1 October 2024	513,919	5,657,783
Profit for the year and total comprehensive income	-	196,896

As at 30 September 2025	513,919	5,854,679

12. Related Party Transactions

During the year, the company entered into various transactions with fellow group undertakings in the ordinary course of business, including the provision of working capital funding and intercompany loan arrangements.

At the balance sheet date, amounts due from investments and fellow group undertakings totalled £1,332,083.49. The balances are unsecured and repayable on demand. Interest was charged on certain intercompany loan balances during the year, resulting in interest income of £72,433.97 being recognised within the profit and loss account.

The directors consider the transactions to have been undertaken on terms equivalent to those that would prevail in arm's length transactions and consider all outstanding balances to be fully recoverable. Accordingly, no impairment provision has been recognised in respect of these balances.

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Appin Property Lettings Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

13. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is APPIN GROUP HOLDINGS LTD . APPIN GROUP HOLDINGS LTD was incorporated in (Please enter country of incorporation). Copies of the group accounts may be obtained from the secretary, 5 South Charlotte Street, Edinburgh, Scotland, EH2 4AN . The ultimate controlling party is APPIN GROUP HOLDINGS LTD who controls 100% of the shares of Appin Property Lettings Limited .

14. Transition to FRS 102

During the year, the company adopted FRS 102 Section 1A Small Entities for the preparation of its financial statements, having previously prepared its accounts under the provisions of FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime.

The transition has not resulted in any material changes to the recognition or measurement of the company's assets, liabilities, income or expenses. However, FRS 102 Section 1A contains more extensive presentation and disclosure requirements than FRS 105. As a result, certain balances and comparative figures have been reclassified and presented differently within the financial statements to comply with the disclosure requirements of FRS 102 Section 1A.

These reclassifications are presentational in nature and do not affect the company's reported profit or loss, net assets, shareholders' funds or cash flows for either the current or comparative period.

Accordingly, users of the financial statements should be aware that certain line items and note disclosures may not be directly comparable to those presented in the prior year's financial statements due solely to changes in presentation and disclosure arising from the adoption of FRS 102 Section 1A.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		5,074,031		5,080,990

			5,074,031		5,080,990
CURRENT ASSETS
Debtors	5	1,339,955		1,101,706
Investments	6	50		50
Cash at bank and in hand		91,418		157,506

		1,431,423		1,259,262
Creditors: Amounts Falling Due Within One Year	7	(6,283 )		(36,427 )

NET CURRENT ASSETS (LIABILITIES)			1,425,140		1,222,835

TOTAL ASSETS LESS CURRENT LIABILITIES			6,499,171		6,303,825

Creditors: Amounts Falling Due After More Than One Year	8		(150 )		-

PROVISIONS FOR LIABILITIES
Deferred Taxation	9		(130,323 )		(132,023 )

NET ASSETS			6,368,698		6,171,802

CAPITAL AND RESERVES
Called up share capital	10		100		100
Revaluation reserve	11		513,919		513,919
Profit and Loss Account			5,854,679		5,657,783

SHAREHOLDERS' FUNDS			6,368,698		6,171,802