Souter Property Management Ltd

	Page
Company Information	1
Balance Sheet	2—3
Notes to the Financial Statements	4—7

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Balance Sheet

As At 31 May 2026

Balance Sheet

Registered number: SC783403

		31 May 2026		31 May 2025
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		432,000		348,000

			432,000		348,000
CURRENT ASSETS
Debtors	5	2,216		9,238
Cash at bank and in hand		1,768		2,560

		3,984		11,798
Creditors: Amounts Falling Due Within One Year	6	(3,776 )		(121,131 )

NET CURRENT ASSETS (LIABILITIES)			208		(109,333 )

TOTAL ASSETS LESS CURRENT LIABILITIES			432,208		238,667

Creditors: Amounts Falling Due After More Than One Year	7		(432,331 )		(277,834 )

NET LIABILITIES			(123 )		(39,167 )

CAPITAL AND RESERVES
Called up share capital	8		2		2
Revaluation reserve	9		78,592		18,490
Profit and Loss Account			(78,717 )		(57,659 )

SHAREHOLDERS' FUNDS			(123)		(39,167)

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Souter Property Management Ltd

Balance Sheet (continued)

As At 31 May 2026

For the year ending 31 May 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Murray Souter

Director

8 October 2026

The notes on pages 4 to 7 form part of these financial statements.

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Souter Property Management Ltd

Notes to the Financial Statements

For The Year Ended 31 May 2026

Notes to the Financial Statements

1. General Information

Souter Property Management Ltd is a private Company, limited by shares, incorporated in Scotland: registration number SC783403 . The registered office address is 33 Overhaven, Limekilns, Dunfermline, KY11 3JH.

The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2. Going Concern Disclosure

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered a period of 12 months from the date of approval of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3. Significant judgements and estimations

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions 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 where the revision affect is only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2.4. Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents amounts invoiced and received each month during the year for property letting rental income.

2.5. Investment Properties

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, 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 profit and loss.

2.6. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

...CONTINUED

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Souter Property Management Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2026

2.6. Financial Instruments - continued

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.7. Taxation

Current taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred taxation

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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Souter Property Management Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2026

3. Average Number of Employees

The average number of employees, including directors, during the year was as follows: NIL (2025: NIL)

4. Investment Property

	31 May 2026
	£
Fair Value
As at 1 June 2025	348,000
Additions	9,800
Revaluations	74,200

As at 31 May 2026	432,000

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	31 May 2026	31 May 2025
	£	£
Cost	334,973	325,173

The fair value of the investment properties has been arrived at on the basis of a valuation carried out as at 31 May 2026 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5. Debtors

	31 May 2026	31 May 2025
	£	£
Due within one year
Other debtors	206	9,238
Due after more than one year
Amounts owed by participating interests	2,010	-

	2,216	9,238

6. Creditors: Amounts Falling Due Within One Year

	31 May 2026	31 May 2025
	£	£
Bank loans and overdrafts	-	117,355
Other creditors	3,776	3,776

	3,776	121,131

The bank loans are secured by fixed and floating charges over the assets of the company.

7. Creditors: Amounts Falling Due After More Than One Year

	31 May 2026	31 May 2025
	£	£
Bank loans	311,770	154,778
Amounts owed to participating interests	96,053	93,496
Other creditors	24,508	29,560

	432,331	277,834

The bank loans are secured by fixed and floating charges over the assets of the company.

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Souter Property Management Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2026

8. Share Capital

	31 May 2026	31 May 2025
	£	£
Allotted, Called up and fully paid	2	2

9. Reserves

	Revaluation reserve	Profit and Loss Account
	£	£
As at 1 June 2025	18,490	(57,659 )
Profit for the year and total comprehensive income	-	39,044

Transfer to/from revaluation reserve	-	(60,102)
Transfer to/from Profit & Loss Account	60,102	-

As at 31 May 2026	78,592	(78,717 )

Where assets are included at fair value, the unrealised uplift in their fair value is transferred from the profit and loss reserve to the revaluation reserve. Deferred tax movements on these unrealised uplifts are also transferred from the profit and loss reserve to the revaluation reserve.

10. Related Party Transactions

Included within "amounts owed by participating interests" is an amount of £2,010 (2025 - £Nil) due from GSM Property Investment Limited, a company in which the director, Mr Murray Souter, is also a director and shareholder. This loan is interest free with no fixed terms of repayment.

Included within "amounts owed to participating interests" is an amount of £96,053 (2025 - £93,496) due to Souter Money Management Ltd, a company in which the director, Mr Murray Souter, is also a director and shareholder. This loan is interest free with no fixed terms of repayment.

Included within "other creditors" is an amount of £24,508 (2025 - £29,560) due to Mr Murray Souter, a director and shareholder. This loan is interest free with no fixed terms of repayment.

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Directors	Mr Murray Souter
	Mrs Gillian Souter

Company Number	SC783403

Registered Office	33 Overhaven
	Limekilns
	Dunfermline
	KY11 3JH

Accountants	NSB Chartered Certified Accountants
	39 Hunter Grove
	Bathgate
	West Lothian
	EH48 1NN