SCHIEHALLION LIMITED


Director	FORRESTER, Christopher James


Company Secretary	THORNTONS LAW LLP


Registered Address	Whitehall House
	33 Yeaman Shore
	Dundee
	DD1 4BJ


Registered Number	SC379194 (Scotland)

Statement of Financial Position
31 December 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		2,561		2,263
Investment property	4		2,757,811		2,757,811
			2,760,372		2,760,074
Current assets
Debtors		-		2,848
Cash at bank and on hand		237,082		164,034
		237,082		166,882
Creditors amounts falling due within one year	5	(1,582,921)		(1,621,535)
Net current assets (liabilities)			(1,345,839)		(1,454,653)
Total assets less current liabilities			1,414,533		1,305,421
Creditors amounts falling due after one year	6		(238,643)		(238,643)
Net assets			1,175,890		1,066,778
Capital and reserves
Called up share capital			1		1
Profit and loss account			1,175,889		1,066,777
Shareholders' funds			1,175,890		1,066,778

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 25 June 2026, and are signed on its behalf by:

FORRESTER, Christopher James
Director
Registered Company No. SC379194

SCHIEHALLION LIMITED

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Basis of preparation

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

	Judgements and key sources of estimation uncertainty
	The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The director considers there are no such significant judgements that require to be individually disclosed.

	Turnover policy
	Turnover represents rentals receivable under operating leases, excluding value added tax, which are being recognised in accordance with the terms of the lease agreements.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Fixtures and fittings	20	-
Office Equipment	-	3

	Investment property
	All of the company's properties are held for long term investment. Investment properties are accounted for as follows:- (i) Investment properties are initially recorded at cost which includes purchase cost and any directly attributable expenditure. (ii) Thereafter, investment properties are revalued at each balance sheet date to their fair value, where this can be measured reliably. (iii) The surplus or deficit arising on revaluation in the financial year is recognised in the profit and loss account for that year. Revaluation gains and losses are accumulated in the profit and loss account reserve, unless the revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a non-distributable reserve in the balance sheet. (iv) Deferred taxation is provided on any gains at the rate expected to apply when a property is sold.

Investment property

All of the company's properties are held for long term investment. Investment properties are accounted for as follows:-
(i) Investment properties are initially recorded at cost which includes purchase cost and any directly attributable expenditure.

(ii) Thereafter, investment properties are revalued at each balance sheet date to their fair value, where this can be measured reliably.

(iii) The surplus or deficit arising on revaluation in the financial year is recognised in the profit and loss account for that year. Revaluation gains and losses are accumulated in the profit and loss account reserve, unless the revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a non-distributable reserve in the balance sheet.

(iv) Deferred taxation is provided on any gains at the rate expected to apply when a property is sold.

	Financial instruments
	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and loans from related parties. Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically other debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and loans from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.  Debt instruments that are payable or receivable within one year, typically other debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less

	Related parties
	The balance due to the director at the balance sheet date was £1,499,644 (2024: £1,536,378). This loan is included in creditors, and is repayable on demand.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	1		1

3.	Tangible fixed assets

	Fixtures & fittings	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 January 25	5,526	2,067	7,593
Additions	-	962	962
At 31 December 25	5,526	3,029	8,555
Depreciation and impairment
At 01 January 25	3,263	2,067	5,330
Charge for year	453	211	664
At 31 December 25	3,716	2,278	5,994
Net book value
At 31 December 25	1,810	751	2,561
At 31 December 24	2,263	-	2,263

4.	Investment property
	A fair value of £2,757,811 (2024: £2,757,811) of the investment properties was arrived at on the basis of valuations carried out on 31 December 2025 by the director, who is not a professionally qualified valuer, having considered the market evidence of transaction prices for similar properties in their location and takes into account the current state of the rental market in the area where the properties are situated.

Investment property

A fair value of £2,757,811 (2024: £2,757,811) of the investment properties was arrived at on the basis of valuations carried out on 31 December 2025 by the  director, who is not a professionally qualified valuer, having considered the market evidence of transaction prices for similar properties in their location and takes into account the current state of the rental market in the area where the properties are situated.


		£
	Fair value at 01 January 25	2,757,811
	At 31 December 25	2,757,811

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Bank borrowings and overdrafts	8,808	8,808
Taxation and social security	46,588	51,768
Other creditors	1,499,644	1,540,878
Accrued liabilities and deferred income	27,881	20,081
Total	1,582,921	1,621,535

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	238,643	238,643
Total	238,643	238,643