Company No: SC786170 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.10.2025		31.10.2024
		£		£
Fixed assets
Investment property	3	290,000		290,000
		290,000		290,000
Current assets
Debtors	4	3,200		3,200
Cash at bank and in hand	5	28		2,201
		3,228		5,401
Creditors: amounts falling due within one year	6	( 66,120)		( 48,789)
Net current liabilities		(62,892)		(43,388)
Total assets less current liabilities		227,108		246,612
Creditors: amounts falling due after more than one year	7	( 137,600)		( 142,600)
Provision for liabilities	8, 9	( 22,379)		( 27,846)
Net assets		67,129		76,166
Capital and reserves
Called-up share capital	10	1		1
Revaluation reserve		89,005		83,537
Profit and loss account		( 21,877 )		( 7,372 )
Total shareholder's funds		67,129		76,166

For the financial year ending 31 October 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of TG Propco 1 Ltd (registered number: SC786170) were approved and authorised for issue by the Director on 20 July 2026. They were signed on its behalf by:

Thomas George Andrew Mcmahon Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

TG Propco 1 Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is The West House, 2 West Port, Dundee, DD1 5EP, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The financial statements cover the twelve months to 31 October 2025. The comparative figures cover the period from incorporation on 17 October 2023 to 31 October 2024 and and as such the comparatives are not directly comparable.

Turnover

Turnover represents amounts receivable for property rental net of VAT. Rental income is recognised on a straight line basis over the term of the lease.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	Year ended 31.10.2025		Period from 17.10.2023 to 31.10.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Investment property

	Investment property
	£
Valuation
As at 01 November 2024	290,000
As at 31 October 2025	290,000

The fair value of the investment property held by the company has been arrived at on the basis of a valuation carried out on 31 October 2025 by the director. The valuation was made on an open market basis by reference to market evidence of the transaction prices for similar properties

4. Debtors

	31.10.2025		31.10.2024
	£		£
Trade debtors	3,200		3,200

5. Cash and cash equivalents

	31.10.2025		31.10.2024
	£		£
Cash at bank and in hand	28		2,201

6. Creditors: amounts falling due within one year

	31.10.2025		31.10.2024
	£		£
Bank loans	5,000		5,000
Trade creditors	3,360		0
Amounts owed to Group undertakings	27,717		24,148
Other taxation and social security	2,101		1,438
Other creditors	27,942		18,203
	66,120		48,789

Included within bank loans is a loan secured by a floating charge over the related assets and undertakings of the company and personal guarantee by the director.

7. Creditors: amounts falling due after more than one year

	31.10.2025		31.10.2024
	£		£
Bank loans	137,600		142,600

Included within bank loans is a loan secured by a floating charge over the related assets and undertakings of the company and personal guarantee by the director.

8. Provision for liabilities

	31.10.2025		31.10.2024
	£		£
Deferred tax	22,379		27,846

9. Deferred tax

	31.10.2025		31.10.2024
	£		£
At the beginning of financial year/period	( 27,846)		0
Credited/(charged) to the Profit and Loss Account	5,467		( 27,846)
At the end of financial year/period	( 22,379)		( 27,846)

10. Called-up share capital

	31.10.2025		31.10.2024
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

11. Related party transactions

Transactions with owners holding a participating interest in the entity

	31.10.2025		31.10.2024
	£		£
Amounts owed to Shareholder	27,717		24,148

This loan is unsecured, interest free and has no fixed terms of repayment.