Company registration number SC477795 (Scotland)
PREZIOSI PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
PAGES FOR FILING WITH REGISTRAR
PREZIOSI PROPERTIES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
4 - 7
PREZIOSI PROPERTIES LTD
BALANCE SHEET
AS AT 31 MAY 2026
31 May 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,547,808
2,555,117
Current assets
Debtors
5
17,099
10,124
Cash at bank and in hand
45,105
40,056
62,204
50,180
Creditors: amounts falling due within one year
6
(1,996,600)
(2,024,226)
Net current liabilities
(1,934,396)
(1,974,046)
Total assets less current liabilities
613,412
581,071
Provisions for liabilities
(63,716)
(65,081)
Net assets
549,696
515,990
Capital and reserves
Called up share capital
7
100
100
Revaluation reserve
270,816
277,257
Profit and loss reserves
278,780
238,633
Total equity
549,696
515,990

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

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

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.

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.

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

PREZIOSI PROPERTIES LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2026
31 May 2026
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 July 2026 and are signed on its behalf by:
Lynne Margaret Drever
Director
Company Registration No. SC477795
PREZIOSI PROPERTIES LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2026
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 June 2024
100
172,929
203,966
376,995
Year ended 31 May 2025:
Profit
-
-
34,667
34,667
Other comprehensive income:
Revaluation of tangible fixed assets
-
128,800
-
128,800
Total comprehensive income
-
128,800
34,667
163,467
Other movements
-
(24,472)
-
(24,472)
Balance at 31 May 2025
100
277,257
238,633
515,990
Year ended 31 May 2026:
Profit
-
-
40,147
40,147
Other comprehensive income:
Revaluation of tangible fixed assets
-
(7,952)
-
(7,952)
Total comprehensive income
-
(7,952)
40,147
32,195
Deferred Tax movement
-
1,511
-
1,511
Balance at 31 May 2026
100
270,816
278,780
549,696
PREZIOSI PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
- 4 -
1
Accounting policies
Company information

Preziosi Properties Ltd is a private company limited by shares incorporated in Scotland. The registered office is Caledonian Exchange, 19A Canning Street, Edinburgh, EH3 8HE.

1.1
Accounting convention

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. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for rental of investment properties.

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:

Land and buildings Freehold
Nil
Fixtures, fittings & equipment
20% Straight Line
1.4
Investment properties

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 a t the reporting end 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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

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.

PREZIOSI PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

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

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction,

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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
PREZIOSI PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
- 6 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2025
2,554,165
14,555
2,568,720
Additions
-
0
950
950
Revaluation
(7,952)
-
0
(7,952)
At 31 May 2026
2,546,213
15,505
2,561,718
Depreciation and impairment
At 1 June 2025
-
0
13,603
13,603
Depreciation charged in the year
-
0
307
307
At 31 May 2026
-
0
13,910
13,910
Carrying amount
At 31 May 2026
2,546,213
1,595
2,547,808
At 31 May 2025
2,554,165
952
2,555,117

Land and Buildings comprises five Investment Properties. All five properties have been revalued in the last four years.

The fair value of the revalued investment properties has been arrived at on the basis of a valuation carried out on 11 June 2026 by Shepherd Chartered Surveyors, who are not connected with the company. The valuation was made on an open market basis by reference to market evidence for similar properties.

The total uplift figure, net of Deferred Tax provision, amounted to £270,816 as disclosed in the Statement of Changes In Equity.

The revalued properties are held at fair value for a total of £2,546,213.

5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Other debtors
17,099
10,124
PREZIOSI PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2026
- 7 -
6
Creditors: amounts falling due within one year
2026
2025
£
£
Corporation tax
9,169
8,087
Other taxation and social security
2,406
2,514
Other creditors
1,985,025
2,013,625
1,996,600
2,024,226
7
Called up share capital
2026
2025
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary Shares of £1 each
100
100
8
Directors' transactions

As at 31 May 2026 the company owed £1,881,829 (20 2 5: £1,9 04,829 ) to Director, Lynne Drever and £87,329 (20 2 5: £99,329 ) to Director, Jeff Drever. The balance is shown within other creditors. The loans are interest free and have no fixed repayment terms.

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