Tandem Property Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC510757

Tandem Property Limited

Filleted Unaudited Financial Statements

5 April 2026

Tandem Property Limited

Financial Statements

Year ended 5 April 2026

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Tandem Property Limited

Officers and Professional Advisers

The board of directors	Mrs D Mullally
	Mr T A Mullally

Company secretary	Mrs D Mullally

Registered office	36 Spylaw Bank Road
	Edinburgh
	EH13 0JG

Accountants	Gibson McKerrell Burrows Limited
	Chartered Accountants
	28 Rutland Square
	Edinburgh
	EH1 2BW

Tandem Property Limited

Statement of Financial Position

5 April 2026

	2026		2025
Note	£	£	£

Fixed assets

Tangible assets	4		1,168,937	1,168,937

Current assets

Debtors	5	6,295	–
Cash at bank and in hand		42,307	29,587
		---------	---------
		48,602	29,587

Creditors: amounts falling due within one year	6	640,693		636,253
		----------		----------
Net current liabilities			592,091	606,666
			-------------	-------------
Total assets less current liabilities			576,846	562,271

Creditors: amounts falling due after more than one year	7	534,950	534,950
		----------	----------
Net assets		41,896	27,321
		----------	----------

Tandem Property Limited

Statement of Financial Position (continued)

5 April 2026

	2026		2025
Note	£	£	£

Capital and reserves

Called up share capital	200	200
Profit and loss account	41,696	27,121
	---------	---------
Shareholders funds	41,896	27,321
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 5 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 29 June 2026 , and are signed on behalf of the board by:

Mrs D Mullally
Director

Company registration number: SC510757

Tandem Property Limited

Notes to the Financial Statements

Year ended 5 April 2026

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 36 Spylaw Bank Road, Edinburgh, EH13 0JG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

The turnover shown in the statement of comprehensive income represents rents receivable during the year.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. /

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Tangible assets

	Land and buildings
	£
Cost
At 6 April 2025 and 5 April 2026	1,168,937
	-------------
Depreciation
At 6 April 2025 and 5 April 2026	–
	-------------
Carrying amount
At 5 April 2026	1,168,937
	-------------
At 5 April 2025	1,168,937
	-------------

Tangible assets held at valuation

The property was purchased in June 2016 and was revalued by the directors in the year to 5 April 2024 and sold in the year to 5 April 2025 Further properties were purchased from the directors at market value during the year to 5 April 2025

5. Debtors

	2026	2025
	£	£
Trade debtors	6,295	–
	-------	----

6. Creditors: amounts falling due within one year

	2026	2025
	£	£
Accruals and deferred income	7,395	1,100
Corporation tax	3,542	1,197
Director loan accounts	629,756	633,956
	----------	----------
	640,693	636,253
	----------	----------

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

	2026	2025
	£	£
Bank loans	534,950	534,950
	----------	----------

The bank loans are secured by a deferred, fixed and floating charge over the company's assets.

8. Related party transactions

The company was under the control of Mr and Mrs Mullally throughout the current and previous year. Mr and Mrs Mullally are the only directors and shareholders. At 5 April 2025, the company was due £629,756 (5 April 2025 - £633,956) to Mr and Mrs Mullally. This loan is interest free with no fixed terms for repayment.