WALDOR SECURITIES LIMITED


Directors	WOLFE, Feodor Louise
	WOLFE, Nicolas


Company Secretary	WOLFE, Feodor Louise


Registered Address	Caledonia House
	89 Seaward Street
	Glasgow
	G41 1HJ


Registered Number	SC047138 (Scotland)

Statement of Financial Position
31 December 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Investments	4		232,392		203,813
Investment property	3		340,000		340,000
			572,392		543,813
Current assets
Cash at bank and on hand		42,560		49,541
		42,560		49,541
Creditors amounts falling due within one year	5	(16,938)		(40,725)
Net current assets (liabilities)			25,622		8,816
Total assets less current liabilities			598,014		552,629
Provisions for liabilities			(21,088)		(16,774)
Net assets			576,926		535,855
Capital and reserves
Called up share capital			150		150
Other reserves			286,248		260,250
Profit and loss account			290,528		275,455
Shareholders' funds			576,926		535,855

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 7 September 2026, and are signed on its behalf by:

WOLFE, Nicolas
Director
Registered Company No. SC047138

WALDOR SECURITIES LIMITED

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Judgements and key sources of estimation uncertainty
	In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

	Turnover policy
	Turnover represents rents receivable under operating leases which are being recognised on a straight line basis over the period of the lease. Investment income and gains are stated separately.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Investments
	Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Investment property
	Investment property is carried at fair value determined annually by the company directors who are not professionally qualified valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

Investment property

Investment property is carried at fair value determined annually by the company directors who are not professionally qualified valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

	Financial instruments
	The company 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 ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Investment property


		£
	Fair value at 01 January 25	340,000
	At 31 December 25	340,000

4.	Fixed asset investments

	Other investments¹	Total
	£	£
Cost or valuation
At 01 January 25	203,813	203,813
Additions	7,980	7,980
Revaluations	29,532	29,532
Disposals	(8,933)	(8,933)
At 31 December 25	232,392	232,392
Net book value
At 31 December 25	232,392	232,392
At 31 December 24	203,813	203,813

	Notes
	¹Other investments other than loans

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Taxation and social security	1,674	497
Other creditors	15,264	40,228
Total	16,938	40,725

6.	Related party transactions
	At the balance sheet date, the company owed the directors £13,118 (2024 - £38,083). This amounts are interest free, unsecured and are repayable on demand.