REGISTERED NUMBER: SC689400 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

CORRAN (ST ANDREWS) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N S Ball

REGISTERED OFFICE:

18 Charlotte Square

Edinburgh

EH2 4DF

REGISTERED NUMBER:

SC689400 (Scotland)

ACCOUNTANTS:

S&W Partners (Scotland) Limited

Q Court

3 Quality Street

Edinburgh

EH4 5BP

FIXED ASSETS

Tangible assets

4

1,402

5,006

Investment property

5

700,000

700,000

701,402

705,006

CURRENT ASSETS

Debtors

6

-

31

Cash at bank

90,504

60,024

90,504

60,055

CREDITORS

Amounts falling due within one year

7

(8,819

)

(2,040

)

NET CURRENT ASSETS

81,685

58,015

TOTAL ASSETS LESS CURRENT LIABILITIES

783,087

763,021

PROVISIONS FOR LIABILITIES

8

(15,690

)

(16,592

)

NET ASSETS

767,397

746,429

CAPITAL AND RESERVES

Called up share capital

1

1

Capital contribution

9

772,386

772,386

Fair value reserve

9

46,020

46,020

Retained earnings

9

(51,010

)

(71,978

)

SHAREHOLDERS' FUNDS

767,397

746,429

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 2 September 2026 and were signed by:

N S Ball - Director

1.	STATUTORY INFORMATION

Corran (St Andrews) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable in relation to property letting.

Turnover is recognised when rent income become receivable. Rental income from investment properties is recognised on a straight-line basis over the lease term and is included within turnover.The amounts received in advance of rental periods are recognised as deferred income until the relevant performance obligations have been satisfied.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

20% per annum on cost

Fixtures and fittings

-

20% per annum on cost

Fixed assets are initially recorded at cost.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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.

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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2025 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2025

and 31 March 2026

547

19,260

19,807

DEPRECIATION

At 1 April 2025

162

14,639

14,801

Charge for year

109

3,495

3,604

At 31 March 2026

271

18,134

18,405

NET BOOK VALUE

At 31 March 2026

276

1,126

1,402

At 31 March 2025

385

4,621

5,006

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

and 31 March 2026

700,000

NET BOOK VALUE

At 31 March 2026

700,000

At 31 March 2025

700,000

Fair value at 31 March 2026 is represented by:

£

Valuation in 2024

61,359

Cost

638,641

700,000

If investment property had not been revalued it would have been included at the following historical cost:

2026

2025

£

£

Cost

638,641

638,641

Investment property was valued on an open market basis on 31 March 2026 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Other debtors

-

31

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Taxation and social security

5,952

-

Other creditors

2,867

2,040

8,819

2,040

8.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

15,690

16,592

Deferred

tax

£

Balance at 1 April 2025

16,592

Credit to Income Statement during year

(902

)

Balance at 31 March 2026

15,690

9.

RESERVES

The capital contribution reserve arose as a result of the forgiveness of a debt by the parent company of amounts owed to it by the Company.

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The ultimate parent company is Corran Properties Limited whose registered office is at 18 Charlotte Square,

Edinburgh, EH2 4DF.