REGISTERED NUMBER: SC368463 (Scotland)

Unaudited Financial Statements for the Year Ended 30 November 2025

for

New Age Developers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Dr K A Fawaz

A Fawaz

REGISTERED OFFICE:

4a Glenfinlas Street

Edinburgh

EH3 6AQ

REGISTERED NUMBER:

SC368463 (Scotland)

ACCOUNTANTS:

One Accounting Ltd

Chartered Management Accountants

4a Glenfinlas Street

Edinburgh

Midlothian

EH3 6AQ

FIXED ASSETS

Tangible assets

4

-

56

CURRENT ASSETS

Stocks

4,685,617

5,880,763

Debtors

5

149,401

124,983

Cash at bank

3,102

46,840

4,838,120

6,052,586

CREDITORS

Amounts falling due within one year

6

1,467,009

911,342

NET CURRENT ASSETS

3,371,111

5,141,244

TOTAL ASSETS LESS CURRENT LIABILITIES

3,371,111

5,141,300

CREDITORS

Amounts falling due after more than one year

7

2,396,050

4,087,707

NET ASSETS

975,061

1,053,593

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

975,060

1,053,592

975,061

1,053,593

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 directors acknowledge their 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 Board of Directors and authorised for issue on 28 August 2026 and were signed on its behalf by:

Dr K A Fawaz - Director

1.	STATUTORY INFORMATION

New Age Developers Limited 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.

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 each asset over its estimated useful life.

Computer equipments

-

33% on cost

Stocks

Work in progress includes original purchase price of the development, associated fees and construction costs to date.

Financial instruments

The Company only enters into basic financial instrument 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.

The company has elected to apply Section 11 'Basic Financial Instruments' of FRS 102 to its financial

instruments. Financial instruments are recognised in the company's statement of financial position when the

company becomes party to the contractual provisions of the instrument.

- Debtors

Debtors with no stated interest rate or which are receivable within one year are recorded at the transaction price. Any losses arising from impairment are recognised in the income statement.

- Creditors

Creditors with no stated interest rate or which are payable within one year are recorded at the transaction price.

All interest bearing loans and borrowings which are basic financial instruments are initially recognised at the

present value of cash payable. After initial recognition they are measured at amortised cost.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2024

and 30 November 2025

11,158

DEPRECIATION

At 1 December 2024

11,102

Charge for year

56

At 30 November 2025

11,158

NET BOOK VALUE

At 30 November 2025

-

At 30 November 2024

56

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Other debtors

1,318

1,832

VAT

4,463

6,723

Deferred tax asset

143,318

113,790

Prepayments and accrued income

302

2,638

149,401

124,983

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans and overdrafts

823,316

-

Trade creditors

235,341

81,864

Social security and other taxes

1,160

1,520

Other creditors

387,779

391,174

Accrued expenses

19,413

436,784

1,467,009

911,342

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans - 1-2 years

-

1,808,607

Directors' loan accounts

2,396,050

2,279,100

2,396,050

4,087,707

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.25

30.11.24

£

£

Bank loans

819,915

1,808,607

Bank of Scotland holds the following security:-

A bond and floating charge over the assets of New Age Developers Limited along with first standard securities over the property held by New Age Developers Limited.

9.	RELATED PARTY DISCLOSURES

30.11.25

30.11.24

£

£

Amount due from related parties

-

-

Amount due to related parties

385,597

384,818

Amount due to key management personnel

2,395,279

2,279,100

During the year, the directors advanced £212,450 (2024: £432,120) to the company and were repaid £95,500 (2024: £1,580). No interest is charged on the outstanding balances.