PAULY & CO LIMITED


Director	Yvonne Peacock


Registered Address	2 Muir Road
	Lochgelly
	KY5 9HH


Registered Number	SC358267 (Scotland)

Balance Sheet as at
30 April 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		208		260
Investment property	4		170,000		170,000
			170,208		170,260
Current assets
Debtors	5	230		294
Cash at bank and on hand		10,588		10,317
		10,818		10,611
Creditors amounts falling due within one year	6	(2,083)		(1,908)
Net current assets (liabilities)			8,735		8,703
Total assets less current liabilities			178,943		178,963
Creditors amounts falling due after one year	7		(131,697)		(131,197)
Provisions for liabilities			(40)		(49)
Net assets			47,206		47,717
Capital and reserves
Called up share capital			100		100
Profit and loss account			47,106		47,617
Shareholders' funds			47,206		47,717

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 3 August 2026, and are signed on its behalf by:

Yvonne Peacock
Director
Registered Company No. SC358267

PAULY & CO LIMITED

Notes to the Financial Statements
for the year ended 30 April 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	Income represents rents receivable in the year.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 

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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. 

Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	15

	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.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	1		1

3.	Tangible fixed assets

	Plant & machinery	Total
	£	£
Cost or valuation
At 01 May 25	390	390
At 30 April 26	390	390
Depreciation and impairment
At 01 May 25	130	130
Charge for year	52	52
At 30 April 26	182	182
Net book value
At 30 April 26	208	208
At 30 April 25	260	260

4.	Investment property


		£
	Fair value at 01 May 25	170,000
	At 30 April 26	170,000

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Other debtors	-	98
Prepayments and accrued income	230	196
Total	230	294

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Accrued liabilities and deferred income	2,083	1,908
Total	2,083	1,908

7.	Creditors: amounts due after one year

	2026	2025
	£	£
Other creditors	131,697	131,197
Total	131,697	131,197