Company No: SC468862 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	59,012		65,692
Investment property	4	1,885,000		2,115,000
		1,944,012		2,180,692
Current assets
Debtors	5	80,921		80,463
Cash at bank and in hand		145,465		125,316
		226,386		205,779
Creditors: amounts falling due within one year	6	( 2,752,792)		( 2,881,767)
Net current liabilities		(2,526,406)		(2,675,988)
Total assets less current liabilities		(582,394)		(495,296)
Provision for liabilities	7	( 207,094)		( 205,878)
Net liabilities		( 789,488)		( 701,174)
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		( 789,588 )		( 701,274 )
Total shareholders' deficit		( 789,488)		( 701,174)

For the financial 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 members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Oldmeldrum Properties Limited (registered number: SC468862) were approved and authorised for issue by the Board of Directors on 26 September 2026. They were signed on its behalf by:

Mr John Barron Director

1. Accounting policies

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.

General information and basis of accounting

Oldmeldrum 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 Johnstone House, 52-54 Rose Street, Aberdeen, AB10 1HA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items 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 £.

Going concern

At the balance sheet date, the company had net liabilities of £789,488 (2025: £701,174).

Included within creditors is a balance of £2,623,318 (2025: £2,761,544) due to the directors. The directors have agreed that the loan will not be repaid to the detriment of the company's ability to trade and they will continue to support the company for the next 12 months.

Turnover

Turnover represents rental income receivable and income from electricity generation, net of VAT and trade discounts. Turnover is recognised on an accruals basis dependent on when the service is provided.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery

20 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessor
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

The fair value was determined by external valuers, DM Hall LLP, on 24 June 2026, and derived from current market rent and investment property yields for comparable tenanted real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price.

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.

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.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Tangible assets

	Plant and machinery		Total
	£		£
Cost
At 01 March 2025	133,606		133,606
At 28 February 2026	133,606		133,606
Accumulated depreciation
At 01 March 2025	67,914		67,914
Charge for the financial year	6,680		6,680
At 28 February 2026	74,594		74,594
Net book value
At 28 February 2026	59,012		59,012
At 28 February 2025	65,692		65,692

4. Investment property

	Investment property
	£
Valuation
As at 01 March 2025	2,115,000
Additions	(230,000)
As at 28 February 2026	1,885,000

Valuation

The fair value of the investment properties has been arrived at on the basis of an independent valuation carried out by DM Hall LLP, Chartered Surveyors on 24 June 2026. The valuation was deemed, by the directors, to apply as at 28 February 2026.

5. Debtors

	2026		2025
	£		£
Trade debtors	75,000		75,000
Other debtors	5,921		5,463
	80,921		80,463

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Taxation and social security	58,906		49,560
Other creditors	2,693,886		2,832,207
	2,752,792		2,881,767

7. Deferred tax

	2026		2025
	£		£
At the beginning of financial year	( 205,878)		( 204,278)
Charged to the Profit and Loss Account	( 1,216)		( 1,600)
At the end of financial year	( 207,094)		( 205,878)

8. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Related party transactions

Transactions with the entity's directors

	2026		2025
	£		£
Balance due to Key Management Personnel at year end	2,623,318		2,761,544

There are no fixed repayment terms and no interest is charged.