VERITAS PROPERTY FINANCE LIMITED


Directors	S Cowan
	A J Mackenzie


Registered Address	11 Guardwell Crescent
	Edinburgh
	EH17 7JA


Registered Number	SC593725 (Scotland)

Statement of Financial Position
31 December 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		310		1,123
			310		1,123
Current assets
Debtors	4	92,689		25,128
Cash at bank and on hand		101,114		78,410
		193,803		103,538
Creditors amounts falling due within one year	5	(168,592)		(82,910)
Net current assets (liabilities)			25,211		20,628
Total assets less current liabilities			25,521		21,751
Creditors amounts falling due after one year	6		-		(3,850)
Provisions for liabilities	7		(78)		(213)
Net assets			25,443		17,688
Capital and reserves
Called up share capital			90		90
Other reserves			10		10
Profit and loss account			25,343		17,588
Shareholders' funds			25,443		17,688

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 15 September 2026, and are signed on its behalf by:

A J Mackenzie
Director

S Cowan
Director

Registered Company No. SC593725

VERITAS PROPERTY FINANCE 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.

	Turnover policy
	Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

	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.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Office Equipment	33

	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.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 January 25	2,438	2,438
At 31 December 25	2,438	2,438
Depreciation and impairment
At 01 January 25	1,315	1,315
Charge for year	813	813
At 31 December 25	2,128	2,128
Net book value
At 31 December 25	310	310
At 31 December 24	1,123	1,123

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	92,689	17,600
Other debtors	-	7,528
Total	92,689	25,128

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Bank borrowings and overdrafts	3,533	8,000
Taxation and social security	5,334	-
Other creditors	8,900	8,900
Accrued liabilities and deferred income	150,825	66,010
Total	168,592	82,910

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	-	3,850
Total	-	3,850

7.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	78	213
Total	78	213

8.	Related party transactions
	During the year the company paid management fees to companies controlled by the directors totalling £200,000 (2024: £80,000). At the year end these companies were owed £80,000 (2024: £60,000). At the year end, the company owed the directors £8,900 (2024: £8,900). These amounts are interest free, unsecured and repayable on demand.