REGISTERED NUMBER: SC051832 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Velo Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M G Will

REGISTERED OFFICE:

Riverdale

Balmoor Bridge

North Road

Peterhead

Aberdeenshire

AB42 3BN

REGISTERED NUMBER:

SC051832 (Scotland)

ACCOUNTANTS:

SBP

Accountants

Glebefield House

21 Links Terrace

Peterhead

Aberdeenshire

AB42 2XA

FIXED ASSETS

Tangible assets

4

3,970

4,693

Investment property

5

200,000

200,000

203,970

204,693

CURRENT ASSETS

Debtors

6

3,710

744

Cash at bank

3,915

7,498

7,625

8,242

CREDITORS

Amounts falling due within one year

7

74,056

80,737

NET CURRENT LIABILITIES

(66,431

)

(72,495

)

TOTAL ASSETS LESS CURRENT LIABILITIES

137,539

132,198

PROVISIONS FOR LIABILITIES

6,554

5,409

NET ASSETS

130,985

126,789

CAPITAL AND RESERVES

Called up share capital

15,000

15,000

Fair value reserve

8

112,502

113,647

Retained earnings

8

3,483

(1,858

)

SHAREHOLDERS' FUNDS

130,985

126,789

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 July 2026 and were signed by:

Mr M G Will - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the amounts (excluding value added tax) derived from the rental income.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Furnishings & fittings

-

15% on reducing balance

Office equipment

-

33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Investment property

Investment property is reported at most recent valuation with the last full valuation having been carried out in July 2021. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss and deferred taxation is provided on gains at the rate expected to apply when the property is sold.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2025 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Furnishings

Office

machinery

& fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2025

and 31 March 2026

300

11,506

1,376

13,182

DEPRECIATION

At 1 April 2025

177

6,950

1,362

8,489

Charge for year

25

684

14

723

At 31 March 2026

202

7,634

1,376

9,212

NET BOOK VALUE

At 31 March 2026

98

3,872

-

3,970

At 31 March 2025

123

4,556

14

4,693

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

and 31 March 2026

200,000

NET BOOK VALUE

At 31 March 2026

200,000

At 31 March 2025

200,000

Fair value at 31 March 2026 is represented by:

£

Valuation in 1998

35,207

Valuation in 2022

83,849

Cost

80,944

200,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Other debtors

3,710

744

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Directors' current accounts

71,950

78,781

Deferred income

66

66

Accrued expenses

2,040

1,890

74,056

80,737

8.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2025

(1,858

)

113,647

111,789

Profit for the year

4,196

-

4,196

Transfer

1,145

(1,145

)

-

At 31 March 2026

3,483

112,502

115,985

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by the shareholder.