REGISTERED NUMBER: SC327576 (Scotland)

Financial Statements

for the Year Ended 31 August 2025

for

Nero Property Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M Khanna

REGISTERED OFFICE:

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

REGISTERED NUMBER:

SC327576 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Investment property

3

210,000

210,000

CURRENT ASSETS

Cash at bank

2,790

6,398

CREDITORS

Amounts falling due within one year

4

49,566

55,936

NET CURRENT LIABILITIES

(46,776

)

(49,538

)

TOTAL ASSETS LESS CURRENT LIABILITIES

163,224

160,462

CREDITORS

Amounts falling due after more than one year

5

(145,740

)

(145,738

)

PROVISIONS FOR LIABILITIES

(3,383

)

(3,383

)

NET ASSETS

14,101

11,341

CAPITAL AND RESERVES

Called up share capital

7

100

100

Investment property

revaluation reserve

10,150

10,150

Retained earnings

3,851

1,091

SHAREHOLDERS' FUNDS

14,101

11,341

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 10 August 2026 and were signed by:

Mr M Khanna - Director

1.	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.

Going concern

The directors continue to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 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.

Turnover

Revenue represents the amount received from the rental of a housing property, excluding value added tax.

2.	EMPLOYEES AND DIRECTORS

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

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

and 31 August 2025

210,000

NET BOOK VALUE

At 31 August 2025

210,000

At 31 August 2024

210,000

Fair value at 31 August 2025 is represented by:

£

Valuation in 2018

(1,460

)

Valuation in 2022

(11,540

)

Valuation in 2023

26,533

Cost

196,467

210,000

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,446

10,446

Taxation and social security

2,624

1,843

Other creditors

36,496

43,647

49,566

55,936

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

145,740

145,738

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

103,956

103,954

6.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

156,186

156,184

The Clydesdale bank holds standard security over 187 Marmion Road, Cumbernauld, Glasgow.

The Shawbrook bank holds standard security over 187 Marmion Road, Cumbernauld, Glasgow, 33 Mid Barrwood Road, Kilsyth, Glasgow and 187 Marmion Road, Cumbernauld, Glasgow.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

8.	RELATED PARTY DISCLOSURES

There is a balance owed to the director of £32,004 (2024 - £40,053) as at 31st August 2025. No interest was charged on this balance and there are no formal repayment terms.