Company registration number SC410641
GSR PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
PAGES FOR FILING WITH REGISTRAR
GSR PROPERTIES LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
GSR PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
28 FEBRUARY 2026
28 February 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
3
690
-
0
Investment property
4
602,258
917,223
602,948
917,223
Current assets
Debtors
5
357,974
391,239
Cash at bank and in hand
20,051
29,004
378,025
420,243
Creditors: amounts falling due within one year
6
(187,356)
(22,008)
Net current assets
190,669
398,235
Total assets less current liabilities
793,617
1,315,458
Creditors: amounts falling due after more than one year
7
-
0
(1,002,141)
Net assets
793,617
313,317
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
793,517
313,217
Total equity
793,617
313,317
GSR PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
28 FEBRUARY 2026
28 February 2026
- 2 -

For the financial year ended 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have 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 income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 11 June 2026 and are signed on its behalf by:
Mr G S Robertson
Director
Company registration number SC410641 (Scotland)
GSR PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 3 -
1
Accounting policies
Company information

GSR Properties Limited is a private company limited by shares incorporated in Scotland. The registered office is Westby, 64 West High Street, Forfar, Angus, DD8 1BJ.

1.1
Basis of preparation

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 the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

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.

Office equipment
25%
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
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

GSR PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.

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 income statement, 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.

1.6
Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

1.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2
Employees

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

2026
2025
Number
Number
Total
2
2
GSR PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 5 -
3
Tangible fixed assets
Office equipment
£
Cost
At 1 March 2025
-
0
Additions
920
At 28 February 2026
920
Depreciation and impairment
At 1 March 2025
-
0
Depreciation charged in the year
230
At 28 February 2026
230
Carrying amount
At 28 February 2026
690
At 28 February 2025
-
0
4
Investment property
2026
£
Fair value
At 1 March 2025
917,223
Disposals
(314,965)
At 28 February 2026
602,258

The 202 6 valuations were made by the directors, on an open market value for existing use basis.

5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Other debtors
357,974
391,239
6
Creditors: amounts falling due within one year
2026
2025
£
£
Taxation and social security
181,356
16,758
Other creditors
3,500
3,500
Accruals and deferred income
2,500
1,750
187,356
22,008
GSR PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 6 -
7
Creditors: amounts falling due after more than one year
2026
2025
£
£
Other creditors
-
0
1,002,141
8
Directors' transactions

Included in other debtors is a loan to the directors totalling £244,156 (202 5: £391,239). Interest at a rate of 3.7 5% has been charged and the loan is repayable on demand.

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