Appin Holiday Lets Ltd

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

1. General Information

Appin Holiday Lets Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC721902 . 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	10% reducing balance
Computer Equipment	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.

...CONTINUED

Page 3

Page 4

Appin Holiday Lets Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.5. Taxation - continued

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.

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	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 October 2024	4,266,219	218,354	709	4,485,282
Additions	-	2,875	-	2,875
Disposals	-	-	(55 )	(55 )

As at 30 September 2025	4,266,219	221,229	654	4,488,102

Depreciation
As at 1 October 2024	-	67,457	-	67,457
Provided during the period	-	15,377	131	15,508

As at 30 September 2025	-	82,834	131	82,965

Net Book Value
As at 30 September 2025	4,266,219	138,395	523	4,405,137

As at 1 October 2024	4,266,219	150,897	709	4,417,825

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	10,775	51,696
Amounts owed by group undertakings	150	135,000
Other debtors	4,691	72,457

	15,616	259,153
Due after more than one year
Amounts owed by group undertakings	250,000	-

	265,616	259,153

Page 4

Page 5

Appin Holiday Lets Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	83,877	111,736
Amounts owed to group undertakings	115,000	8,281
Other creditors	44,529	54,207
Taxation and social security	90,654	56,987

	334,060	231,211

7. 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	34,600	42,950

8. Share Capital

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

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 October 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 September 2025
	£	£	£	£	£
Mr Damien O'Looney	55,000	-	55,000	-	-

The above loan is unsecured, interest free and repayable on demand.

10. 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 and receipt of working capital funding and intercompany loan arrangements.

At the balance sheet date, amounts due to fellow group undertakings totalled £257,498 (2024: £143,281). The balances are unsecured and repayable on demand. Interest was charged on certain intercompany loan balances during the year in accordance with the group's financing arrangements.

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 and payable as they fall due.

Page 5

Page 6

Appin Holiday Lets Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

11. Transition to FRS 102

The company has transitioned from FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime to FRS 102 Section 1A Small Entities in the current period.

The directors have reviewed the company's accounting policies and concluded that the transition has not resulted in any material adjustments to the recognition or measurement of assets, liabilities, income or expenditure. The principal impact of the transition relates to the enhanced presentation and disclosure requirements applicable under FRS 102 Section 1A.

Consequently, certain comparative balances have been reclassified and presented under alternative headings to ensure compliance with the disclosure requirements of FRS 102 Section 1A. These reclassifications do not represent changes in the underlying transactions or accounting treatment and have no impact on reported profit, total comprehensive income, net assets or shareholders' funds.

The comparative information has therefore been presented on a basis considered appropriate under FRS 102 Section 1A, although certain disclosures and classifications may differ from those included in the prior year financial statements prepared under FRS 105.

Page 6

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		4,405,137		4,417,825

			4,405,137		4,417,825
CURRENT ASSETS
Debtors	5	265,616		259,153
Cash at bank and in hand		677,616		435,143

		943,232		694,296
Creditors: Amounts Falling Due Within One Year	6	(334,060 )		(231,211 )

NET CURRENT ASSETS (LIABILITIES)			609,172		463,085

TOTAL ASSETS LESS CURRENT LIABILITIES			5,014,309		4,880,910

PROVISIONS FOR LIABILITIES
Deferred Taxation	7		(34,600 )		(42,950 )

NET ASSETS			4,979,709		4,837,960

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			4,979,609		4,837,860

SHAREHOLDERS' FUNDS			4,979,709		4,837,960