GYLEWORKS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
Company registration number SC616076 (Scotland)
GYLEWORKS LTD
COMPANY INFORMATION
Directors
Mr W Gorol
Ms S Lehany
(Appointed 1 November 2025)
Company number
SC616076
Registered office
44 Bank Street
Kilmarnock
Ayrshire
KA1 1HA
Accountants
Dains
46 Bank Street
Kilmarnock
Ayrshire
KA1 1HA
Business address
34 South Gyle Crescent
Edinburgh
Lothian
Scotland
EH12 9EB
GYLEWORKS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
GYLEWORKS LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2025
30 November 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
24,783
30,320
Investment property
5
1,500,000
1,500,000
1,524,783
1,530,320
Current assets
Debtors
6
50,188
49,290
Cash at bank and in hand
63,541
156,713
113,729
206,003
Creditors: amounts falling due within one year
7
(1,444,485)
(1,721,682)
Net current liabilities
(1,330,756)
(1,515,679)
Total assets less current liabilities
194,027
14,641
Provisions for liabilities
(6,196)
(7,580)
Net assets
187,831
7,061
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
9
187,731
6,961
Total equity
187,831
7,061
GYLEWORKS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2025
30 November 2025
- 2 -

For the financial year ended 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has 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 5 August 2026 and are signed on its behalf by:
Mr W Gorol
Director
Company registration number SC616076 (Scotland)
GYLEWORKS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 3 -
1
Accounting policies
Company information

Gyleworks Ltd is a private company limited by shares incorporated in Scotland. The registered office is 44 Bank Street, Kilmarnock, Ayrshire, KA1 1HA. The principal place of business is 34 South Gyle Crescent, Edinburgh, Lothian, Scotland, EH12 9EB.

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, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises rental income from investment properties held during the year.

The company applies the accruals basis of accounting meaning rental income is recognised when it is earned (over the lease term) rather than when it is received. Revenue is recognised over the lease term in accordance with lease agreements, and is shown net of value added tax and other sales taxes.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

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:

Furniture & Fixtures
15% Straight Line, 25% Straight line
Computer Equipment
33% Straight Line
Office Equipment
25% Straight Line

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 a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Impairment of fixed assets

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.

GYLEWORKS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.6
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.

1.7
Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to or from related parties and investments in non-puttable ordinary shares.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
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 company does not recognise deferred tax assets due to the uncertainty regarding the availability of future taxable profits against which these assets can be utilised.

1.10
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.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

GYLEWORKS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 5 -
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.

No significant judgements have had to be made by the director in preparing these financial statements.

The director ha s made key assumptions in the determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

3
Employees

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

2025
2024
Number
Number
Total
1
1
4
Tangible fixed assets
Plant and machinery etc
Office Equipment
Total
£
£
£
Cost
At 1 December 2024
122,292
2,789
125,081
Additions
8,027
-
0
8,027
At 30 November 2025
130,319
2,789
133,108
Depreciation and impairment
At 1 December 2024
91,972
2,789
94,761
Depreciation charged in the year
13,564
-
0
13,564
At 30 November 2025
105,536
2,789
108,325
Carrying amount
At 30 November 2025
24,783
-
0
24,783
At 30 November 2024
30,320
-
0
30,320
GYLEWORKS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 6 -
5
Investment property
2025
£
Fair value
At 1 December 2024 and 30 November 2025
1,500,000

Investment property comprises 34 South Gyle Crescent, Edinburgh.

During the year ended 30 November 2024, the company revalued its investment property, resulting in a fair value of £1.5m at the reporting date. The fair value of the property was determined by independent professional valuers based on market conditions at the time, which the Directors believe remain appropriate at 30 November 2025.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
32,788
31,367
Other debtors
17,400
16,557
50,188
47,924
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
-
0
1,366
Total debtors
50,188
49,290
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
3,212
8,325
Taxation and social security
81,559
14,824
Other creditors
1,359,714
1,698,533
1,444,485
1,721,682
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
GYLEWORKS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 7 -
9
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
6,961
967,909
Adjusted balance
6,961
967,909
Profit/(loss) for the year
180,770
(960,948)
At the end of the year
187,731
6,961

Included within profit and loss reserves are non-distributable profits, as set out below:

2025
2024
£
£
Non-distributable profits included above
At the beginning of the year
-
734,455
Non distributable profits in the year
-
(734,455)
At the end of the year
-
-
Distributable profits
187,731
6,961
10
Related party transactions

'Other Debtors' includes £10,954 (2024: £8,135) owed by companies in which W. Gorol is also a director.

11
Directors' transactions

'Other creditors' includes a loan from a Director of £1,255,693 (2024: £1,600,693). This amount bears no interest and has no fixed repayment terms.

2025-11-30 2024-12-01 false false false 05 August 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Mr W Gorol Ms S Lehany SC616076 2024-12-01 2025-11-30 SC616076 bus:Director1 2024-12-01 2025-11-30 SC616076 bus:Director2 2024-12-01 2025-11-30 SC616076 bus:RegisteredOffice 2024-12-01 2025-11-30 SC616076 2025-11-30 SC616076 2024-11-30 SC616076 core:OtherPropertyPlantEquipment 2025-11-30 SC616076 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2025-11-30 SC616076 core:OtherPropertyPlantEquipment 2024-11-30 SC616076 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2024-11-30 SC616076 core:CurrentFinancialInstruments core:WithinOneYear 2025-11-30 SC616076 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 SC616076 core:WithinOneYear 2025-11-30 SC616076 core:WithinOneYear 2024-11-30 SC616076 core:CurrentFinancialInstruments 2025-11-30 SC616076 core:CurrentFinancialInstruments 2024-11-30 SC616076 core:ShareCapital 2025-11-30 SC616076 core:ShareCapital 2024-11-30 SC616076 core:RetainedEarningsAccumulatedLosses 2025-11-30 SC616076 core:RetainedEarningsAccumulatedLosses 2024-11-30 SC616076 core:ShareCapitalOrdinaryShareClass1 2025-11-30 SC616076 core:ShareCapitalOrdinaryShareClass1 2024-11-30 SC616076 core:RetainedEarningsAccumulatedLosses 2024-11-30 SC616076 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC616076 core:FurnitureFittings 2024-12-01 2025-11-30 SC616076 core:ComputerEquipment 2024-12-01 2025-11-30 SC616076 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2024-12-01 2025-11-30 SC616076 core:OtherPropertyPlantEquipment 2024-11-30 SC616076 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2024-11-30 SC616076 2024-11-30 SC616076 core:OtherPropertyPlantEquipment 2024-12-01 2025-11-30 SC616076 core:Non-currentFinancialInstruments core:AfterOneYear 2025-11-30 SC616076 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 SC616076 bus:OrdinaryShareClass1 2024-12-01 2025-11-30 SC616076 bus:OrdinaryShareClass1 2025-11-30 SC616076 bus:OrdinaryShareClass1 2024-11-30 SC616076 2023-12-01 2024-11-30 SC616076 bus:PrivateLimitedCompanyLtd 2024-12-01 2025-11-30 SC616076 bus:SmallCompaniesRegimeForAccounts 2024-12-01 2025-11-30 SC616076 bus:FRS102 2024-12-01 2025-11-30 SC616076 bus:AuditExemptWithAccountantsReport 2024-12-01 2025-11-30 SC616076 bus:FullAccounts 2024-12-01 2025-11-30 xbrli:pure xbrli:shares iso4217:GBP