REGISTERED NUMBER: SC789914 (Scotland)

Unaudited Financial Statements

For The Year Ended 30 November 2025

for

Ross Watt Property Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

R I Watt

REGISTERED OFFICE:

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

REGISTERED NUMBER:

SC789914 (Scotland)

ACCOUNTANTS:

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

FIXED ASSETS

Tangible assets

4

515,266

495,255

Investment property

5

1,748,889

1,201,000

2,264,155

1,696,255

CURRENT ASSETS

Debtors

6

1,762

943

Cash at bank

50,293

88,908

52,055

89,851

CREDITORS

Amounts falling due within one year

7

201,891

201,889

NET CURRENT LIABILITIES

(149,836

)

(112,038

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,114,319

1,584,217

CREDITORS

Amounts falling due after more than one year

8

(1,909,484

)

(1,412,061

)

PROVISIONS FOR LIABILITIES

10

(45,370

)

(20,003

)

NET ASSETS

159,465

152,153

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

11

107,250

120,165

Fair value reserve

11

247,544

138,340

Retained earnings

(195,429

)

(106,452

)

SHAREHOLDERS' FUNDS

159,465

152,153

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 director acknowledges his 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 director and authorised for issue on 12 February 2026 and were signed by:

R I Watt - Director

1.	STATUTORY INFORMATION

Ross Watt Property Ltd 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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

2% on cost

Fixtures and fittings

-

15% on reducing balance

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.

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances

Cash and bank balances are measured at the transaction price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1 December 2024

502,000

3,877

505,877

Additions

17,027

1,831

18,858

Revaluations

12,553

-

12,553

At 30 November 2025

531,580

5,708

537,288

DEPRECIATION

At 1 December 2024

10,040

582

10,622

Charge for year

10,632

768

11,400

At 30 November 2025

20,672

1,350

22,022

NET BOOK VALUE

At 30 November 2025

510,908

4,358

515,266

At 30 November 2024

491,960

3,295

495,255

Cost or valuation at 30 November 2025 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2024

128,592

5,708

134,300

Valuation in 2025

12,552

-

12,552

Cost

390,436

-

390,436

531,580

5,708

537,288

If freehold property had not been revalued they would have been included at the following historical cost:

30.11.25

30.11.24

£

£

Cost

17,026

373,407

Freehold property was valued on open market basis on 30 November 2025 by .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2024

1,201,000

Additions

438,535

Revaluations

109,354

At 30 November 2025

1,748,889

NET BOOK VALUE

At 30 November 2025

1,748,889

At 30 November 2024

1,201,000

Fair value at 30 November 2025 is represented by:

£

Valuation in 2024

151,864

Valuation in 2025

109,354

Cost

1,487,671

1,748,889

If investment property had not been revalued it would have been included at the following historical cost:

30.11.25

30.11.24

£

£

Cost

438,534

1,049,138

Investment property was valued on an open market basis on 30 November 2025 by Shawbrook Bank and Lendinvest Limited .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Other debtors

1,762

943

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Other creditors

201,891

201,889

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans

1,595,016

1,005,545

Other creditors

314,468

406,516

1,909,484

1,412,061

9.	SECURED DEBTS

The bank hold the following securities:

18 macdonald place, burntisland, KY3 9JT

All and whole the subjects known as flat 2, 111 queensferry

20 ronaldsay place, cumbernauld, glasgow, G67 1NP

All and whole the subjects known as and forming 13 randolph place, wick, KW1 5NJ

All and whole the subjects known as and forming 14 west park terrace, inverbervie, montrose, DD10 0TZ

All and whole the subjects known as and forming 66 appin crescent, dunfermline, fife, KY12 7QH

All and whole the subjects known as and forming 2 meikle endovie cottage, alford, AB33 8EE

All and whole the subjects known as and forming 168A pittencrieff street, dunfermline, KY12 8AW

All and whole the subjects known as and forming 21 mcgrigor road, rosyth, dunfermline, KY11 2AE

All and whole the subjects known as and forming 83C james street, dunfermline, KY12 7QF

10.	PROVISIONS FOR LIABILITIES

30.11.25

30.11.24

£

£

Deferred tax

45,370

20,003

Deferred

tax

£

Balance at 1 December 2024

20,003

Provided during year

25,367

Balance at 30 November 2025

45,370

11.

RESERVES

Fair

Revaluation

value

reserve

reserve

Totals

£

£

£

At 1 December 2024

120,165

138,340

258,505

Transfer to reserves

12,552

109,354

121,906

Deferred tax on revaluation

(25,216

)

(150

)

(25,366

)

Depreciation on revaluation

(251

)

-

(251

)

At 30 November 2025

107,250

247,544

354,794

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ross Watt Property Ltd for the year ended 30 November 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the director of Ross Watt Property Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ross Watt Property Ltd and state those matters that we have agreed to state to the director of Ross Watt Property Ltd in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Ross Watt Property Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ross Watt Property Ltd. You consider that Ross Watt Property Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ross Watt Property Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

12 February 2026