ARTISAN ALBANY HOUSE LIMITED - Filleted accounts

Registered number

SC800168

ARTISAN ALBANY HOUSE LIMITED

Filleted Accounts

31 December 2025

ARTISAN ALBANY HOUSE LIMITED
Registered number:		SC800168
Balance Sheet
as at 31 December 2025

Notes			2025			2024
£				£
Fixed assets
			-			-

Current assets
Inventory	4	6,044,064			5,489,592
Debtors	5	-			18,592
Cash at bank and in hand		714,823			-
		6,758,887			5,508,184

Creditors: amounts falling due within one year	6	(241,333)			(86,926)

Net current assets			6,517,554			5,421,258

Total assets less current liabilities			6,517,554			5,421,258

Creditors: amounts falling due after more than one year	7		(4,901)			(5,166,931)

Provisions for liabilities			-			-


Net assets			6,512,653			254,327

Capital and reserves
Called up share capital			5,675,100			100
Profit and loss account			837,553			254,227

Shareholders' funds			6,512,653			254,327

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Jaco Jansen
Director
Approved by the board on 17 September 2026

ARTISAN ALBANY HOUSE LIMITED
Notes to the Accounts
for the year ended 31 December 2025


1	Accounting policies
	General information
	Artisan Albany House Limited (‘the Company’) was incorporated to acquire the property 58 Albany House, Edinburgh, EH1 3QR in order to obtain planning consent and construct a purpose build hotel accomodation. The Company is a private limited company limited by shares and is incorporated in the UK with registration number SC800168. The registered office of the company is 13 Hill Street, Edinburgh, Scotland, EH2 3JP.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).


	Turnover
	Revenue is measured based on the fair value consideration specified within a contract with a customer and excludes amounts collected on behalf of third parties. The Company recognises revenue as it completes services for customers or when it transfers legal title of a property. Currently the property is let by an existing commercial tenant. As such the temporary rental income received is measured at the fair value of the consideration received or receviable, net of discounts and value added taxes.


	Inventory
	Inventory is measured at the lower of cost and net realisable value. Net realisable value is determined as the estimated selling price in the ordinary course of business less estimated costs of completion and directly incurred selling costs. Costs of inventory comprise identifiable direct costs incurred in the acquisition and development of the property, including: land; acquisition; design; construction and capitalised borrowing costs. At the end of each reporting period inventory is assessed for impairment. If inventory is impaired, the inventory is reduced to its selling price less costs to complete and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in profit or loss. Gains or losses arising from the disposal of inventory property, being the difference between the net disposal proceeds and the carrying amount, are recognised in profit or loss. General and specific borrowing costs are capitalised if they are directly attributable to the acquisition, construction or production of development property that meets the definition of a qualifying asset. Capitalisation of borrowing costs commences when the activities to prepare the asset are in progress and expenditures and borrowing costs are being incurred. Capitalisation of borrowing costs continues until the asset is substantially ready for its intended use. If the resulting carrying amount of the asset exceeds its recoverable amount, an impairment loss is recognised. The capitalisation rate is arrived at by reference to the actual rate payable on borrowings for development purposes or, at the average rate in respect of that part of the development cost financed out of general funds

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.





2	Sales	2025		2024
£			£
	Rental income	796,957
		796,957		-



3	Employees	2025		2024
Number			Number

	Average number of persons employed by the company	0		0


4	Inventory			£

	Cost
	Purchase price			5,015,555
	Aquistion costs			340,742
	Planning			77,495
	Management fees			55,800
	At 31 December 2024			5,489,592

	Aquistion costs			12,043
	Planning			284,088
	Construction costs			183,941
	Management fees			74,400
	At 31 December 2025			6,044,064

	The property 58 Albany Street, “Albany”, is situated at 58 Albany House, Edinburgh, EH1 3QR. Planning consent for change of use from office to 102 room hotel incorporating associated works, including re-roofing, was granted in 2024 and demolition is to commence in January 2026.The hotel HUB will be occupied by Priemer Inn when completed. Work in progress relates to costs incurred in the development and construction of the Albany scheme. The directors consider that as at the year-end date, the net realisable value of the Albany development is in excess of the cost presented.



5	Debtors	2025		2024
£			£

	Value Added Taxation	-		18,592
		-		18,592


6	Creditors: amounts falling due within one year	2025		2024
£			£

	Trade creditors	46,891		2,184
	Taxation	194,442		84,742
		241,333		86,926


7	Creditors: amounts falling due after one year	2025		2024
£			£

	Artisan Albany House Holdings UK Limited	4,901		5,166,931
		4,901		5,166,931

	The above loan is unsecured, bears no interest and is repayable on
	demand.

8	Related party transactions

	During the year, the Company incurred development management services and disbursements of £83 347.56(2024:£55 800) from Artisan Real Estate Scotland Limited (‘ARESL’), which has been capitalised as inventory. ARESL is a related party as there is commonality of directorships. Amounts owing at year end is £nil.

9	Controlling party

	Artisan Albany House Holdings UK Limited. Registered office: 3 Market Square Castletown Isle of Man IM9 5TD

10	Other information

	ARTISAN ALBANY HOUSE LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
	13 Hill Street
	Edinburgh
	Scotland

	EH23JP