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Registered number: SC530674 PAN PROPERTIES LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
PAN PROPERTIES LIMITED COMPANY INFORMATION
Directors | Mr A Baxter
| Mr P Carmichael
| Mr N Cameron
Company secretary | Mr P Carmichael
Registered number | SC530674
Registered office | 6 Eden Valley Business Park
| Cupar
| Fife
| KY15 4RB
PAN PROPERTIES LIMITED REGISTERED NUMBER: SC530674 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2026
|  | 2026 |  | 2025
|  | £ |  | £
Fixed assets |  |  |  |  |
Investment property | 4 |  | 936,439 |  | 400,000
|  |  | 936,439 |  | 400,000
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 4,918 |  | 1,203 |
Cash at bank and in hand |  | 22,474 |  | 18,562 |
|  | 27,392 |  | 19,765 |
Creditors: amounts falling due within one year | 6 | (329,188) |  | (201,412) |
Net current liabilities |  |  | (301,796) |  | (181,647)
Total assets less current liabilities |  |  | 634,643 |  | 218,353
Creditors: amounts falling due after more than one year | 7 |  | (371,034) |  | -
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (30,228) |  | (30,228) |
|  |  | (30,228) |  | (30,228)
Net assets |  |  | 233,381 |  | 188,125
Capital and reserves |  |  |  |  |
Called up share capital | 8 |  | 15 |  | 15
Profit and loss account |  |  | 233,366 |  | 188,110
|  |  | 233,381 |  | 188,125
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PAN PROPERTIES LIMITED REGISTERED NUMBER: SC530674 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2026 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Mr N Cameron
Director
Date: 18 June 2026
The notes on pages 3 to 7 form part of these financial statements. Page 2
PAN PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
1. | General information
Pan Properties Limited is a private company, limited by shares and incorporated in Scotland under registration number SC530674. The address of the registered office is 6 Eden Valley Business Park, Cupar, Fife, KY15 4RB. 2. Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Turnover
Turnover is represented by rents receivable in the period and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable.
| 2.3 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.4 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. Page 3
PAN PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2. Accounting policies (continued)
| 2.5 | Investment property
Investment property is carried at fair value determined annually by the directors or by RICS registered surveyors 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. Changes in fair value are recognised in the Statement of comprehensive income.
| 2.6 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.7 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2025 - 3).
4. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 April 2025 | 400,000
| Additions at cost | 536,439
| At 31 March 2026 | 936,439
The 2024 valuation were made by Graham + Sibbald LLP, RICS registered surveyors on an open market value for existing use basis. The purchase in the year is reflected at cost which the directors' believe is still the open market value.
Page 4
PAN PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
5. | Debtors
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Prepayments and accrued income | 4,918 | 1,203
|  | 4,918 | 1,203
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Trade creditors | 6,254 | 3,141
| Accruals and deferred income | 1,421 | 1,250
| Other taxation and social security | 24,139 | 8,543
| Other creditors | 279,994 | 188,478
| Bank loans | 17,380 | -
|  | 329,188 | 201,412
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PAN PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Bank loans | 371,034 | -
|  | 371,034 | -
| The following liabilities were secured:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Bank loans | 388,414 | -
| Details of security provided:
The company granted a standard security in favour of the The Royal Bank of Scotland PLC over the all and whole area of the property known as Old Gagie Station Yard, Kells, Dundee being the subjects registered in the land register of scotland under title number ANG91915. The company granted a standard security in favour of the The Royal Bank of Scotland PLC over the all and whole area of ground at Eden Valley Business Park, East Road, Cupar, Fife, KY15 4RB and warehouse premises and others erected thereon being the subjects registered in the land register of Scotland under title number FFE96711. The company granted a floating charge in favour of the The Royal Bank of Scotland PLC over the all its property, undertaking, assets, right owned now and in the future. Page 6
PAN PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
8. | Share capital
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 5 (2025 - 5) A Ordinary shares of £1.00 each | 5 | 5
|  | 5 (2025 - 5) B Ordinary shares of £1.00 each | 5 | 5
|  | 5 (2025 - 5) C Ordinary shares of £1.00 each | 5 | 5
|  |  | 15 | 15
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