Company No:
Contents
| Note | 2026 | 2025 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investment property | 3 |
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| 2,356,257 | 2,006,438 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand | 5 |
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| 58,358 | 161,846 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current liabilities | (121,051) | (47,568) | ||
| Total assets less current liabilities | 2,235,206 | 1,958,870 | ||
| Creditors: amounts falling due after more than one year | 7 | (
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| Provision for liabilities | 8, 9 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 10 |
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| Revaluation reserve |
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| Profit and loss account | (
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Netherby Properties Limited (registered number:
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John William Garvie
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Netherby Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Johnston Carmichael Bishop's Court, 29 Albyn Place, Aberdeen, AB10 1YL, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The financial statements have been prepared on the going concern basis as the directors believes that it is appropriate to do so. In coming to this conclusion the directors confirm that the loan accounts will not be repaid until all other creditors have been met and that they will continue to support the company for at least twelve months from the date of approval of these financial statements.
Rental income is recognised on a straight line basis over the term of the lease.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
The fair value is determined annually by the directors, on an open market value for existing use basis.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are 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.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.
| 2026 | 2025 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Investment property | |
| £ | |
| Valuation | |
| As at 01 April 2025 |
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| Additions | 341,410 |
| Fair value movement | 8,409 |
| As at 31 March 2026 |
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Valuation
The fair value of the investment properties held by the business has been arrived at on the basis of a valuation carried out by Graham & Sibbald, Chartered Surveyors on 15 June 2023. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors have considered any changes from this date and deemed the amount above as being a fair value of the investment property at 31st March 2026.
| 2026 | 2025 | ||
| £ | £ | ||
| Other debtors |
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| £ | £ | ||
| Cash at bank and in hand |
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| £ | £ | ||
| Bank loans |
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| Other creditors |
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Bank loans are secured by a fixed charge over the property of the company and a floating charge over the assets of the company.
| 2026 | 2025 | ||
| £ | £ | ||
| Bank loans |
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| Other creditors |
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Amounts repayable after more than 5 years are included in creditors falling due over one year:
| 2026 | 2025 | ||
| £ | £ | ||
| Other creditors (repayable by instalments) |
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| 2026 | 2025 | ||
| £ | £ | ||
| Deferred tax |
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| 2026 | 2025 | ||
| £ | £ | ||
| At the beginning of financial year | (
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| Credited/(charged) to the Profit and Loss Account |
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| At the end of financial year | (
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| 2026 | 2025 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Transactions with the entity's directors
| 2026 | 2025 | ||
| £ | £ | ||
| Directors loan | 78,507 | 68,507 | |
| Directors loan | 730,000 | 640,000 |
Other related party transactions
| 2026 | 2025 | ||
| £ | £ | ||
| Other related parties | 156,217 | 190,883 |
The loans are interest free and have no fixed terms of repayment. Repayment of the loan from directors will not be sought within 12 months of the balance sheet date.