REGISTERED NUMBER: SC510846 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

KERN PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms D D Smith

Ms L L Smith

Ms S L Smith

REGISTERED OFFICE:

47 Albert Street

Aberdeen

AB25 1XT

REGISTERED NUMBER:

SC510846 (Scotland)

FIXED ASSETS

Tangible assets

4

824

1,618

Investment property

5

459,250

531,750

460,074

533,368

CURRENT ASSETS

Debtors

6

12,503

16,133

Cash at bank and in hand

9,166

4,266

21,669

20,399

CREDITORS

Amounts falling due within one year

7

480,980

602,462

NET CURRENT LIABILITIES

(459,311

)

(582,063

)

TOTAL ASSETS LESS CURRENT LIABILITIES

763

(48,695

)

CREDITORS

Amounts falling due after more than one year

8

57,976

-

NET LIABILITIES

(57,213

)

(48,695

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(57,313

)

(48,795

)

(57,213

)

(48,695

)

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

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

Ms D D Smith - Director

1.	STATUTORY INFORMATION

Kern Properties 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.

Improvements to property

-

25% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

25% on cost, 20% on cost and 10% on cost

Motor vehicles

-

20% on cost

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 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.

Going concern

Although technically insolvent the company is being supported by the director.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2025

and 31 December 2025

19,260

3,010

2,818

2,716

27,804

DEPRECIATION

At 1 January 2025

19,260

3,010

2,513

1,403

26,186

Charge for year

-

-

250

544

794

At 31 December 2025

19,260

3,010

2,763

1,947

26,980

NET BOOK VALUE

At 31 December 2025

-

-

55

769

824

At 31 December 2024

-

-

305

1,313

1,618

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

531,750

Disposals

(72,500

)

At 31 December 2025

459,250

NET BOOK VALUE

At 31 December 2025

459,250

At 31 December 2024

531,750

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

-

2,584

Other debtors

12,503

13,549

12,503

16,133

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

9,078

132,788

Trade creditors

27

289

Other creditors

471,875

469,385

480,980

602,462

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans

57,976

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

21,663

-