40 Thirlestane Road Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: SC788081

		30 November 2025		30 November 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		10,653		-
Investment Properties	5		457,619		457,619

			468,272		457,619
CURRENT ASSETS
Cash at bank and in hand		17,097		12,585

		17,097		12,585
Creditors: Amounts Falling Due Within One Year	6	(466,233 )		(464,871 )

NET CURRENT ASSETS (LIABILITIES)			(449,136 )		(452,286 )

TOTAL ASSETS LESS CURRENT LIABILITIES			19,136		5,333

NET ASSETS			19,136		5,333

CAPITAL AND RESERVES
Called up share capital	7		1		1
Profit and Loss Account			19,135		5,332

SHAREHOLDERS' FUNDS			19,136		5,333

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40 Thirlestane Road Limited

Balance Sheet (continued)

As At 30 November 2025

For the year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mrs E L Steele

Director

28 August 2026

The notes on pages 3 to 5 form part of these financial statements.

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40 Thirlestane Road Limited

Notes to the Financial Statements

For The Year Ended 30 November 2025

Notes to the Financial Statements

1. General Information

40 Thirlestane Road Limited is a private company, limited by shares, incorporated in Scotland, registered number SC788081 . The registered office is 36 Bruntsfield Place, Edinburgh, EH10 4HJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Rental income is recognised as part of turnover in the Profit and loss Account on a straight-line basis over the period of the lease or tenancy agreement, in accordance with the terms of the relevant rental contracts.

Where rental income includes lease incentives granted to tenants (such as rent-free periods or reduced rent periods), these incentives are spread over the term of the lease on a straight-line basis, unless another systematic basis is more representative of the time pattern in which benefit is derived from the use of the leased asset.

Variable rental income (e.g., turnover-based rents or additional service charges) is recognised in the period in which it is earned, provided that it is probable that the economic benefits will flow to the entity and the amount can be measured reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

20% Straight Line

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

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40 Thirlestane Road Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.5. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 December 2024	-
Additions	11,831

As at 30 November 2025	11,831

Depreciation
As at 1 December 2024	-
Provided during the period	1,178

As at 30 November 2025	1,178

Net Book Value
As at 30 November 2025	10,653

As at 1 December 2024	-

5. Investment Property

	30 November 2025
	£
Fair Value
As at 1 December 2024 and 30 November 2025	457,619

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40 Thirlestane Road Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

6. Creditors: Amounts Falling Due Within One Year

	30 November 2025	30 November 2024
	£	£
Corporation tax	3,531	2,193
Accruals and deferred income	834	810
Amounts owed to parent undertaking	461,868	461,868

	466,233	464,871

7. Share Capital

	30 November 2025	30 November 2024
	£	£
Allotted, Called up and fully paid	1	1

8. Related Party Transactions

As at 30 November 2025, the company owed £461,868 (2024: £461,868) to its parent company, Windward LS Ltd.

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