SRM Commercial Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC381656

SRM Commercial Limited

Filleted Unaudited Financial Statements

28 February 2026

SRM Commercial Limited

Statement of Financial Position

28 February 2026

	2026		2025
Note	£	£	£

Fixed assets

Tangible assets	5		8,490,000	9,990,000

Current assets

Debtors	6	1,292,922	603,094
Cash at bank and in hand		23,826	30,226
		------------	---------
		1,316,748	633,320

Creditors: amounts falling due within one year	7	2,000,139		3,196,447
		------------		------------
Net current liabilities			683,391	2,563,127
			------------	------------
Total assets less current liabilities			7,806,609	7,426,873

Creditors: amounts falling due after more than one year	8		395,287	401,914

Provisions

Taxation including deferred tax	421,245	512,390
	------------	------------
Net assets	6,990,077	6,512,569
	------------	------------

Capital and reserves

Called up share capital	2	2
Revaluation reserve	1,263,736	1,807,518
Profit and loss account	5,726,339	4,705,049
	------------	------------
Shareholder funds	6,990,077	6,512,569
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

SRM Commercial Limited

Statement of Financial Position (continued)

28 February 2026

These financial statements were approved by the board of directors and authorised for issue on 17 September 2026 , and are signed on behalf of the board by:

Rita Marwaha

Director

Company registration number: SC381656

SRM Commercial Limited

Notes to the Financial Statements

Year ended 28 February 2026

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 12 Southview Road, Strathblane, Glasgow, G63 9JQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% reducing balance

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2025: 2 ).

5. Tangible assets

	Land and buildings	Equipment	Total
	£	£	£
Cost or valuation
At 1 March 2025	9,990,000	860	9,990,860
Disposals	( 1,135,422)	–	( 1,135,422)
Revaluations	( 364,578)	–	( 364,578)
	------------	----	------------
At 28 February 2026	8,490,000	860	8,490,860
	------------	----	------------
Depreciation
At 1 March 2025 and 28 February 2026	–	860	860
	------------	----	------------
Carrying amount
At 28 February 2026	8,490,000	–	8,490,000
	------------	----	------------
At 28 February 2025	9,990,000	–	9,990,000
	------------	----	------------

Included within the above is investment property as follows:

	£
At 1 March 2025	9,990,000
Fair value adjustments	( 364,578)
Disposals	( 1,135,422)
	------------
At 28 February 2026	8,490,000
	------------

The investment properties are measured annually at fair value by the director. Changes in fair value are recognised in profit or loss.

6. Debtors

	2026	2025
	£	£
Trade debtors	85,034	59,308
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,194,554	533,900
Other debtors	13,334	9,886
	------------	---------
	1,292,922	603,094
	------------	---------

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	6,627	6,627
Trade creditors	1,929	9,340
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,436,050	735,200
Corporation tax	251,761	225,831
Social security and other taxes	26,622	25,877
Wages creditor	27,342	4,629
Service charge fund	–	20,481
Other creditors	249,808	2,168,462
	------------	------------
	2,000,139	3,196,447
	------------	------------

8. Creditors: amounts falling due after more than one year

	2026	2025
	£	£
Bank loans and overdrafts	395,287	401,914
	---------	---------

9. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2026	2025
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	8,490,000	9,990,000
	------------	------------

10. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2026
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr S Marwaha	( 2,010,806)	1,951,773	( 59,033)
	------------	------------	--------

	2025
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr S Marwaha	( 1,075,073)	( 935,733)	( 2,010,806)
	------------	---------	------------

11. Related party transactions

The company was under the control of Mr Shaun Marwaha throughout the current and previous year. Mr Marwaha is the managing director and majority shareholder. At the balance sheet date the company owed Mr Marwaha £59,033 (2025: £2,010,806). The company owes the following amounts to companies controlled by Mr Shaun Marwaha or close family members: Prestige Properties (Scotland) Limited - £1,296,700 (2025: £735,200) Live Property Limited - £79,850 (2025: £nil) Merchant Developments Scotland Limited - £59,500 (2025: £500 due to the company) The loans are interest free and repayable on demand. The company is owed the following amounts from companies controlled by Mr Shaun Marwaha: 2 SRM Limited - £1,194,554 (2025: £626,400)