Registration number: SC593883

NKL Properties Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

NKL Properties Ltd

Company Information

Directors

DB Walker Mrs FMT Walker

Registered office

4-5 Mitchell Street Edinburgh EH6 7BD

Accountants

Boon and Worth Limited Suite A4, Skylon Court Coldnose Road Rotherwas Hereford HR2 6JS

NKL Properties Ltd

(Registration number: SC593883)
Balance Sheet as at 30 April 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	3,314	4,560
Investment property	5	1,265,000	1,584,194
		1,268,314	1,588,754
Current assets
Debtors	6	1,949	2,128
Cash at bank and in hand		64,718	19,215
		66,667	21,343
Creditors: Amounts falling due within one year	7	(273,659)	(336,136)
Net current liabilities		(206,992)	(314,793)
Total assets less current liabilities		1,061,322	1,273,961
Creditors: Amounts falling due after more than one year	7	(1,013,153)	(1,226,832)
Provisions for liabilities		(30,040)	(38,933)
Net assets		18,129	8,196
Capital and reserves
Called up share capital		100	100
Retained earnings		18,029	8,096
Shareholders' funds		18,129	8,196

NKL Properties Ltd

(Registration number: SC593883)
Balance Sheet as at 30 April 2026

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 17 September 2026 and signed on its behalf by:
 

......................................... DB Walker Director

......................................... Mrs FMT Walker Director

NKL Properties Ltd

Notes to the Unaudited Financial Statements for the year ended 30 April 2026

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
4-5 Mitchell Street
Edinburgh
EH6 7BD

These financial statements were authorised for issue by the Board on 17 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, with management having given due consideration to the company’s ability to continue as a going concern for at least the next twelve months.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of turnover can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

NKL Properties Ltd

Notes to the Unaudited Financial Statements for the year ended 30 April 2026

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Depreciation method and rate for Tangible assets
Asset class	Depreciation method and rate
Fixtures and fittings	10% straight line method
Office equipment	25% reducing balance method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

NKL Properties Ltd

Notes to the Unaudited Financial Statements for the year ended 30 April 2026

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2025 - 2).

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 May 2025	11,062	1,248	12,310
At 30 April 2026	11,062	1,248	12,310
Depreciation
At 1 May 2025	7,063	687	7,750
Charge for the year	1,106	140	1,246
At 30 April 2026	8,169	827	8,996
Carrying amount
At 30 April 2026	2,893	421	3,314
At 30 April 2025	3,999	561	4,560

NKL Properties Ltd

Notes to the Unaudited Financial Statements for the year ended 30 April 2026

5	Investment properties

	2026 £
At 1 May	1,584,194
Disposals	(310,000)
Fair value adjustments	(9,194)
At 30 April	1,265,000

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current	2026 £	2025 £
Prepayments	1,949	2,128
	1,949	2,128

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	9	20,000	70,000
Accruals and deferred income		1,800	1,680
Other creditors		251,859	264,456
		273,659	336,136

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	9	1,013,153	1,226,832

NKL Properties Ltd

Notes to the Unaudited Financial Statements for the year ended 30 April 2026

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

9	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	873,153	1,006,832
Other borrowings	140,000	220,000
	1,013,153	1,226,832

Current loans and borrowings

	2026 £	2025 £
Other borrowings	20,000	70,000

NKL Properties Ltd

Notes to the Unaudited Financial Statements for the year ended 30 April 2026

10	Related party transactions

Transactions with directors

2026	At 1 May 2025 £	Advances to director £	Repayments by director £	At 30 April 2026 £
DB Walker
Directors loan account	(264,073)	13,000	(743)	(251,817)

2025	At 1 May 2024 £	Advances to director £	Repayments by director £	At 30 April 2025 £
DB Walker
Directors loan account	(267,545)	6,135	(2,663)	(264,073)