REGISTERED NUMBER: SC440523 (Scotland)

Unaudited Financial Statements for the Year Ended 30 November 2025

for

Avonpeak Offices In Leith Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A G Borthwick

Mrs A F Borthwick

K M M Borthwick

REGISTERED OFFICE:

89 Giles Street

Edinburgh

EH6 6BZ

REGISTERED NUMBER:

SC440523 (Scotland)

FIXED ASSETS

Investments

4

123,101

123,100

Investment property

5

5,000,000

4,595,000

5,123,101

4,718,100

CURRENT ASSETS

Debtors

6

966,913

273,197

Cash at bank

69,650

30,387

1,036,563

303,584

CREDITORS

Amounts falling due within one year

7

350,264

354,815

NET CURRENT ASSETS/(LIABILITIES)

686,299

(51,231

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,809,400

4,666,869

CREDITORS

Amounts falling due after more than one year

8

(2,982,905

)

(2,347,464

)

PROVISIONS FOR LIABILITIES

(481,859

)

(380,609

)

NET ASSETS

2,344,636

1,938,796

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

10

1,673,177

1,369,427

Retained earnings

671,359

569,269

2,344,636

1,938,796

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 5 August 2026 and were signed on its behalf by:

A G Borthwick - Director

1.	STATUTORY INFORMATION

Avonpeak Offices In Leith Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue comprises of rents and service charges receivable and is recognised in the period to which it relates.

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.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Taxation

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and

subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 4 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 December 2024

123,100

Additions

1

At 30 November 2025

123,101

NET BOOK VALUE

At 30 November 2025

123,101

At 30 November 2024

123,100

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2024

4,595,000

Revaluations

405,000

At 30 November 2025

5,000,000

NET BOOK VALUE

At 30 November 2025

5,000,000

At 30 November 2024

4,595,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out in December 2024 by Cushman & Wakefield real estate, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

The directors have reviewed the fair value of the investment properties as at 30 November 2025 and can confirm that they are satisfied with the current valuation and believe that the fair value has not materially changed since the last valuation.

Fair value at 30 November 2025 is represented by:

£

Valuation in 2021

1,750,035

Valuation in 2024

405,000

Cost

2,844,965

5,000,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Trade debtors

3,229

3,075

Amounts owed by participating interests

963,179

269,608

Other debtors

505

514

966,913

273,197

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans and overdrafts

147,967

135,242

Trade creditors

(1

)

6,742

Taxation and social security

53,822

46,313

Other creditors

148,476

166,518

350,264

354,815

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans

2,982,905

2,347,464

9.	SECURED DEBTS

Aldermore Bank PLC hold a floating charge and security over the investment property held by the company.

10.

RESERVES

Fair

value

reserve

£

At 1 December 2024

1,369,427

Transfer between reserves

303,750

At 30 November 2025

1,673,177