Company registration number SC271177 (Scotland)
WMB PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
PAGES FOR FILING WITH REGISTRAR
WMB PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
WMB PROPERTIES LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2026
31 January 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
4
35,717
33,324
Investment property
5
7,961,000
8,429,000
7,996,717
8,462,324
Current assets
Debtors falling due after more than one year
6
195,555
195,555
Debtors falling due within one year
6
208,669
282,653
Cash at bank and in hand
240,557
109,814
644,781
588,022
Creditors: amounts falling due within one year
7
(241,377)
(139,151)
Net current assets
403,404
448,871
Total assets less current liabilities
8,400,121
8,911,195
Creditors: amounts falling due after more than one year
8
(3,576,939)
(4,059,200)
Provisions for liabilities
(3,035)
-
Net assets
4,820,147
4,851,995
Capital and reserves
Called up share capital
680,000
680,000
Revaluation reserve
9
2,357,991
2,409,595
Profit and loss reserves
1,782,156
1,762,400
Total equity
4,820,147
4,851,995
WMB PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2026
31 January 2026
- 2 -

For the financial year ended 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 18 June 2026 and are signed on its behalf by:
Mr S S Baptie
Director
Company registration number SC271177 (Scotland)
WMB PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
- 3 -
1
Accounting policies
Company information

WMB Properties Limited is a private company limited by shares incorporated in Scotland. The registered office is 1A Victoria Road, Dundee, DD1 1EL.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the aggregate of rental income receivable.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Land is not depreciated
Plant and equipment
25% on cost
Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

The investment properties were valued at market value by Allied Valuation in August 2019. The directors have reviewed the carrying values at 28 February 2026 and are satisfied that these are not materially different from fair value at the reporting date.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

WMB PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current 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

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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. 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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
2
2
WMB PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
- 5 -
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Computers
Total
£
£
£
£
Cost
At 1 February 2025
33,324
-
0
359
33,683
Additions
-
0
3,191
-
0
3,191
At 31 January 2026
33,324
3,191
359
36,874
Depreciation and impairment
At 1 February 2025
-
0
-
0
359
359
Depreciation charged in the year
-
0
798
-
0
798
At 31 January 2026
-
0
798
359
1,157
Carrying amount
At 31 January 2026
33,324
2,393
-
0
35,717
At 31 January 2025
33,324
-
0
-
0
33,324
5
Investment property
2026
£
Fair value
At 1 February 2025
8,429,000
Disposals
(468,000)
At 31 January 2026
7,961,000

Investment properties were valued on an open market basis by the directors on 31 January 2026.

6
Debtors
2026
2025
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
72,704
Other debtors
167,382
176,274
Prepayments and accrued income
41,287
33,675
208,669
282,653
WMB PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
6
Debtors
(Continued)
- 6 -
2026
2025
Amounts falling due after more than one year:
£
£
Other debtors
195,555
195,555
Total debtors
404,224
478,208
7
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
106,667
106,667
Other creditors
133,920
31,398
Accruals and deferred income
790
1,086
241,377
139,151

Bank loans are secured by fixed charges over the investment properties of the company.

8
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans and overdrafts
3,576,939
4,059,200

Bank loans and overdrafts are secured by fixed charges over the investment properties of the company.

9
Revaluation reserve
2026
2025
£
£
At the beginning of the year
2,409,595
2,409,595
Other movements
(51,604)
-
At the end of the year
2,357,991
2,409,595
10
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

WMB PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026
10
Related party transactions
(Continued)
- 7 -
Services received
2026
2025
£
£
Companies with mutual directors/shareholders
32,594
26,448

The following amounts were outstanding at the reporting end date:

2026
2025
Amounts due to related parties
£
£
Other related parties
12,442
-
2026
2025
Amounts due from related parties
£
£
Companies with mutual directors/shareholders
362,938
358,138
11
Directors' transactions

Transactions and balances with directors were as follows:

Loans
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mr S S Baptie - Loan
-
6,253
58,844
(12,416)
52,681
Mr A M R Baptie - Loan
-
25,144
66,332
(15,979)
75,497
31,397
125,176
(28,395)
128,178

The balance due to the directors is included within other creditors and is unsecured, interest-free, and repayable on demand.

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