REGISTERED NUMBER: SC491612 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Industrial Maintenance & Property

Services Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

25,748

30,291

Investment property

5

2,585,000

2,585,000

2,610,748

2,615,291

CURRENT ASSETS

Debtors

6

19,200

-

Prepayments and accrued income

11,611

11,611

Cash at bank

22,855

28,921

53,666

40,532

CREDITORS

Amounts falling due within one year

7

(260,452

)

(318,349

)

NET CURRENT LIABILITIES

(206,786

)

(277,817

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,403,962

2,337,474

CREDITORS

Amounts falling due after more than one year

8

(488,426

)

(591,138

)

PROVISIONS FOR LIABILITIES

(311,548

)

(312,684

)

NET ASSETS

1,603,988

1,433,652

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,603,888

1,433,552

1,603,988

1,433,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 25 June 2026 and were signed on its behalf by:

Mr J A Kirkwood - Director

Mrs K J Kirkwood - Director

1.	STATUTORY INFORMATION

Industrial Maintenance & Property Services Limited is a private company, limited by shares, registered in Scotland, registration number SC491612. The registered office is Caldervale Business Park - Unit 1, Dunrobin Road, Airdrie, Lanarkshire, ML6 8LS.

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 net invoiced sales of goods and services in respect of commercial property rental and maintenance, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation

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

Plant and machinery etc

-

15% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 or deferred 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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

and 31 December 2025

80,401

DEPRECIATION

At 1 January 2025

50,110

Charge for year

4,543

At 31 December 2025

54,653

NET BOOK VALUE

At 31 December 2025

25,748

At 31 December 2024

30,291

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

and 31 December 2025

2,585,000

NET BOOK VALUE

At 31 December 2025

2,585,000

At 31 December 2024

2,585,000

Fair value at 31 December 2025 is represented by:

£

Valuation in 2023

1,220,444

Cost

1,364,556

2,585,000

If investment properties had not been revalued they would have been included at the following historical cost:

31.12.25

31.12.24

£

£

Cost

1,364,556

1,364,556

Investment properties were valued on an open market value basis on 14 June 2023 by DM Hall .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

19,200

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

27,085

27,085

Trade creditors

13,138

11,272

Amounts owed to related parties

118,249

190,249

Taxation and social security

86,667

81,224

Other creditors

15,313

8,519

260,452

318,349

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans

488,426

591,138

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

380,085

482,797

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

£

Bank loans

515,511

618,223

The bank loan is secured by way of a fixed charge over the investment property and a floating charge over the other assets of the company.

10.	RELATED PARTY DISCLOSURES

Company under common control

At the year end, the company owed £118,249 (2024: £190,249)