Company Registration No. SC685345 (Scotland)
BANACH PROPERTY LTD
Unaudited accounts
for the year ended 31 January 2026
BANACH PROPERTY LTD
Unaudited accounts
for the year ended 31 January 2026
BANACH PROPERTY LTD
Statement of Financial Position
as at 31 January 2026
Investment property
195,543
191,817
Cash at bank and in hand
297
595
Creditors: amounts falling due within one year
(65,100)
(64,328)
Net current assets/(liabilities)
(63,575)
(63,290)
Total assets less current liabilities
131,968
128,527
Creditors: amounts falling due after more than one year
(127,529)
(127,540)
Provisions for liabilities
(2,442)
(1,768)
Net assets/liabilities
1,997
(781)
Called up share capital
2
2
Profit and loss account
1,995
(783)
Shareholders' funds
1,997
(781)
For the period ending 31 January 2026 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - small entities.The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
BANACH PROPERTY LTD
Statement of Financial Position
as at 31 January 2026
This report was approved by the board of directors on 08 October 2026
and signed on behalf of the board by:
.......................
Craig Steven Banach
Director
.......................
Leigh-Anne Rosina Mackenzie Banach
Director
Company Registration Number SC685345
The company is a private company limited by shares, which is incorporated in Scotland (no SC685345). The address of the registered office is 2 Lyne Grove Crossford Dunfermline KY12 8YB.
BANACH PROPERTY LTD
Notes to the financial statements
for the year ended 31 January 2026
1 Compliance with Accounting Standards
The financial statements have been prepared in accordance with the Financial Reporting Standard 102 Section 1A Small Entities. There were no significant departures from that standard.
Other operating income consists entirely of unrealised fair value gains on investment property of £3,726 (2025: £10,464). These gains are recognised separately from rental turnover and do not represent cash receipts.
The financial statements are prepared under the historical cost convention, modified to include investment property at fair value, in accordance with FRS 102 Section 1A and the Companies Act 2006.
The financial statements are presented in pounds sterling, which is the company’s functional currency. Amounts are rounded to the nearest pound.
Rental income from operating leases is recognised over the period to which it relates on a straight-line basis. Rent receivable is stated gross before letting-agent fees; those fees are recognised separately as expenses.
Investment property is initially recognised at cost, including directly attributable acquisition costs, and subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Investment property measured at fair value is not depreciated.
Deferred tax is recognised on timing differences between amounts recognised in the financial statements and amounts taken into account for taxation, including the difference between investment-property carrying value and tax base. Deferred tax assets for unused tax losses are recognised only to the extent that recovery against future taxable profits is probable. Deferred tax is measured using enacted or substantively enacted tax rates expected to apply when the differences reverse, without discounting.
The financial statements have been prepared on a going concern basis. The company’s current liabilities exceed its current assets and include funding provided by the directors. The directors have confirmed their intention to leave their funding in the company for at least twelve months after approval of these financial statements. The directors have considered rental receipts, mortgage payments and operating costs in their cash-flow forecast. Continued director support is important to meeting liabilities as they fall due; that intention does not constitute a binding change to the loans’ repayment terms. The assessment and forecast must be updated at the actual approval date.
BANACH PROPERTY LTD
Notes to the financial statements
for the year ended 31 January 2026
| |
£ |
| Fair value at 31 January 2025 |
191,817 |
| Additions |
-
|
| Disposals |
-
|
| Increase/(decrease) from fair value adjustment |
3,726 |
| Transfers from tangible fixed assets |
-
|
|
|
| At 31 January 2026 |
195,543 |
|
|
The directors estimated fair value at 31 January 2026 at £195,543 using the purchase value adjusted by Nationwide house price index movements. No independent valuer was used. The increase of £3,726 is recognised in profit or loss. The estimate is subject to final review before approval.
| |
£ |
£ |
| Accrued income and prepayments |
459
|
443
|
| Other debtors |
769
|
0
|
|
|
|
|
1,228
|
443
|
|
|
|
6 Creditors: amounts falling due within one year
| |
£ |
£ |
| Directors loan accounts |
64,950
|
64,328
|
| Accruals |
150
|
-
|
|
|
|
|
65,100
|
64,328
|
|
|
|
Amounts owed to the directors are classified as payable within one year because no binding agreement at 31 January 2026 restricted repayment beyond 31 January 2027. The £64,950.43 includes £18,038.66 owed to Leigh-Anne. The separate £769.24 recovery debtor is shown gross at the year end. Craig confirmed that Leigh-Anne agreed on 8 October 2026 to settle that recovery by reducing the amount owed to her; it is not treated as a January repayment.
7 Creditors: amounts falling due after more than one year
| |
£ |
£ |
| Loans |
127,529
|
127,540
|
|
|
|
|
127,529
|
127,540
|
|
|
|
| Aggregate of amounts falling due after 5 years |
127,529
|
127,540
|
|
|
|
The mortgage is secured on the investment property at 1F3, 5 Thistle Place, Edinburgh. The loan is interest only and its contractual term ends on 31 July 2046. The year-end balance is £127,529.28 (2025: £127,540). For this draft, the directors have assumed that £10.72 of the £7,257 paid in 2025/26 reduced principal, leaving £7,246.28 interest expense. This allocation is an estimate pending confirmation from the lender’s statement.
BANACH PROPERTY LTD
Notes to the financial statements
for the year ended 31 January 2026
The provision for deferred taxation is made up as follows:
| |
£ |
£ |
| Revaluation of investment property |
2,663 |
1,955 |
| Tax losses carried forward |
(220) |
(187) |
|
|
|
|
2,442 |
1,768 |
|
|
|
9 Transactions with related parties
At 31 January 2026 the company owed Craig Banach £46,911.77 and Leigh-Anne Banach £18,038.66, a total of £64,950.43 (2025 total: £64,327.68). No director-loan interest is included in these accounts. A separate recovery debtor of £769.24 relates to amounts paid to Leigh-Anne as intended dividends when sufficient realised profits were unavailable: £500 on 18 October 2025, £169.24 on 21 December 2025 and £100 on 22 December 2025. Craig confirmed that Leigh-Anne agreed on 8 October 2026 to repay this amount by set-off against the company debt owed to her. The set-off is recorded on that date, reducing her creditor balance to £17,269.42; it is not backdated to the year end.
10 Average number of employees
The average number of persons employed, including directors, during the year was 2 (2025: 2).
11 Prior-period corrections
The 2025 comparative figures have been restated to recognise omitted subscription and insurance prepayments of £442.81, correct the £7.27 bank overstatement arising from omitted agent-fee VAT, increase the director-creditor balance by £0.46 to match signed confirmations, and recognise net deferred tax of £1,767.63. Reported net assets of £552.07 become net liabilities of £780.48, a reduction of £1,332.55. Profit before tax increases from £9,305.24 to £9,478.32 after expense cut-off and bank corrections; the deferred-tax charge leaves profit after tax of £7,710.69. Director funding is presented as current because there was no binding repayment restriction.