| Balance Sheet | 3 |
| Statement of Compliance | 4 |
| Notes to the Financial Statements | 5–14 |
| 2025 £ |
2024 £ |
|
|---|---|---|
| Fixed assets | ||
| Current assets | ||
| Creditors: amounts falling due within one year | ( |
( |
| Net current assets (liabilities) | ( |
( |
| Total assets less current liabilities | ||
| Creditors: amounts falling due after more than one year | ( |
( |
| Total net assets (liabilities) | ( |
( |
| Capital and reserves | ||
| Called up share capital | ||
| Profit and loss account | (18900) | (15501) |
| ( |
( |
Directors' responsibilities:
The accounts were approved by the Board of Directors and authorised for issue on 17 August 2026.
Turnover
Turnover is recognised when goods are delivered or services are provided.
Taxation
Corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Debtors
Debtors are recognised at the settlement amount due.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments.
Creditors
Creditors are recognised when there is an obligation at the balance sheet date as a result of a past event.
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' and the Companies Act 2006.
The average number of employees during the year was: 0
| Description | Current Year £ |
Previous Year £ |
|---|---|---|
| Trade debtors | 0 | 0 |
| Prepayments and accrued income | 0 | 0 |
| Other debtors | 510 | 510 |
| Total | 510 | 510 |
Creditors: amounts falling due within one year
| Description | Current Year £ |
Previous Year £ |
|---|---|---|
| Trade creditors | 0 | 0 |
| Corporation tax | 0 | 0 |
| Other taxes and social security | 0 | 0 |
| Accruals and deferred income | 0 | 0 |
| Other creditors | 38,058 | 34,745 |
| Total | 38,058 | 34,745 |
Creditors: amounts falling due after more than one year
| Description | Current Year £ |
Previous Year £ |
|---|---|---|
| Bank loans | 46,350 | 46,350 |
| Other creditors | 0 | 0 |
| Total | 46,350 | 46,350 |
The fixed asset investments balance represents the company's investment property at 20C Princes Street, Campbeltown. The property is measured at fair value under FRS 102. At 31 August 2025 the directors estimated its fair value at £65,000, having regard to recent local market transaction evidence and the condition of the property. No independent professional valuation was obtained. The carrying amount at 31 August 2024 was £65,086. The fair value decrease of £86 during the year has been recognised in profit or loss. The property is subject to a mortgage in favour of The Mortgage Works.
During preparation of these financial statements, the directors identified errors in the comparative figures for the year ended 31 August 2024. Cash at bank had previously been reported as £265 instead of £8.11, and £34,300 of repayable advances from directors and connected parties had not been recognised within creditors. The comparative figures have therefore been restated. Cash at bank has been reduced by £256.89 and creditors due within one year have been increased by £34,300. As a result, net assets at 31 August 2024 have been reduced by £34,556.89 to net liabilities of £15,490.89, with retained earnings restated to a deficit of £15,500.91.
At 31 August 2025 the company owed £37,613.48 to directors and connected parties (31 August 2024 restated: £34,300). These balances arose from advances made to fund the acquisition, financing and ongoing costs of the company's investment property. The amounts are included within creditors falling due within one year. No interest was charged on these advances during the year.
At 31 August 2025 the company had net liabilities of £18,889.83. The financial statements have nevertheless been prepared on the going concern basis. The company continues to receive financial support from its directors and connected parties, who intend to continue providing support and do not presently intend to demand repayment of their advances in a manner that would require the company to cease operating or realise its investment property. The directors therefore consider the going concern basis of preparation to be appropriate.
At 31 August 2025 the company had a bank loan of £46,350 (31 August 2024: £46,350) included within creditors falling due after more than one year. The loan is secured by a legal charge over the company's investment property at 20C Princes Street, Campbeltown.