Registration number: SC252274

Prattis Properties Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Statement of Changes in Equity	4
Notes to the Unaudited Financial Statements	5 to 8

Prattis Properties Limited

Company Information

Director

C Prattis

Company secretary

C Prattis

Registered office

13 Seafar Drive Kelty Fife KY4 0JX

Accountants

M&S Accountancy and Taxation Limited Unit 26, Dunfermline Business Centre Izatt Avenue Dunfermline Fife KY11 3BZ

Prattis Properties Limited

(Registration number: SC252274)
Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	913	1,181
Investment property	5	703,728	703,728
		704,641	704,909
Current assets
Debtors	6	25,520	187,656
Cash at bank and in hand		12,979	45,523
		38,499	233,179
Creditors: Amounts falling due within one year	7	(45,866)	(236,680)
Net current liabilities		(7,367)	(3,501)
Total assets less current liabilities		697,274	701,408
Creditors: Amounts falling due after more than one year	7	(335,000)	(335,000)
Provisions for liabilities		(36,508)	(36,646)
Net assets		325,766	329,762
Capital and reserves
Called up share capital	8	66	89
Capital redemption reserve		34	11
Revaluation reserve		191,692	191,692
Other reserves		-	(98,057)
Retained earnings		133,974	236,027
Shareholders' funds		325,766	329,762

For the financial year ending 31 July 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 July 2026
 

Prattis Properties Limited

(Registration number: SC252274)
Balance Sheet as at 31 July 2025

......................................... C Prattis Company secretary and director

Prattis Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
13 Seafar Drive
Kelty
Fife
KY4 0JX
United Kingdom

These financial statements were authorised for issue by the director on 30 July 2026.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of VAT and trade discounts. Turnover is recognised on the accruals basis.

Tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Tangible assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment.

Prattis Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Depreciation

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Asset class	Depreciation method and rate
Fixtures and fittings	20% Straight line
Office equipment	25% Straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

Prattis Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 August 2024	23,548	699	24,247
Additions	-	603	603
At 31 July 2025	23,548	1,302	24,850
Depreciation
At 1 August 2024	22,891	175	23,066
Charge for the year	546	325	871
At 31 July 2025	23,437	500	23,937
Carrying amount
At 31 July 2025	111	802	913
At 31 July 2024	657	524	1,181

5	Investment properties

	2025 £
At 1 August	703,728
At 31 July	703,728

Investment properties comprises of 5 properties. The fair value of the investment property was last independently appraised by P Carr (MRICS, on behalf of DM Hall LLP, on 28 August 2022. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6

Debtors

Current	2025 £	2024 £
Trade debtors	13,139	23,945
Other debtors	12,381	163,711
	25,520	187,656

Prattis Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Taxation and social security	7,403	5,706
Accruals and deferred income	7,800	10,011
Other creditors	30,663	220,963
	45,866	236,680

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Loans and borrowings		335,000	335,000

Bank loans are secured over both fixed and floating charges on the fixed assets of the business.

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary A shares of £1 each	16	16	39	39
Ordinary shares of £1 each	50	50	50	50
	66	66	89	89