PUERTA LIMITED


Director	GIBBONS, Mhairi


Registered Address	16 Locher Place
	Coatbridge
	ML5 4FL


Registered Number	SC827579 (Scotland)

Notes to the Financial Statements
for the period ended 31 October 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The financial statements have been prepared in accordance with FRS 102, including Section 1A Small Entities, and the Companies Act 2006. They have been prepared under the historical cost convention, modified to include investment property measured at fair value.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	At the reporting date, the company had net assets of £29.87. The director has confirmed that she will continue to provide financial support and will not seek repayment of her loan to the extent that this would prevent the company from meeting its liabilities as they fall due. Having considered the company’s expected rental income, expenditure and available funding, the director considers the going-concern basis of preparation appropriate.

Going concern

At the reporting date, the company had net assets of £29.87. The director has confirmed that she will continue to provide financial support and will not seek repayment of her loan to the extent that this would prevent the company from meeting its liabilities as they fall due. Having considered the company’s expected rental income, expenditure and available funding, the director considers the going-concern basis of preparation appropriate.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises rental income from residential property recognised on a straight-line basis over the period of the tenancy.

	Interest income
	Interest income represents interest earned on the company's business bank account during the financial year.

	Borrowing costs
	Mortgage borrowings are measured at amortised cost using the effective-interest method. Directly attributable borrowing fees are deducted from the initial carrying amount of the liability and recognised in profit or loss over the period to which they relate.

	Finance costs
	Finance costs comprise mortgage interest and the amortisation of borrowing fees.

	Current taxation
	Taxation comprises current and deferred tax. Current tax is based on taxable profits for the period. Deferred tax is recognised on timing differences, including those arising from investment-property valuations. Deferred-tax assets, including those relating to 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.

Current taxation

Taxation comprises current and deferred tax. Current tax is based on taxable profits for the period. Deferred tax is recognised on timing differences, including those arising from investment-property valuations. Deferred-tax assets, including those relating to 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.

	Tangible fixed assets and depreciation
	Investment property comprises land and buildings held to earn rental income and/or for capital appreciation. It 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. No depreciation is charged on investment property measured at fair value.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.	Average number of employees


		2025
	Average number of employees during the year	0

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	Additions	161,307
	At 31 October 25	161,307
	Net book value
	At 31 October 25	161,307
	At 30 October 24	-


	The tangible fixed assets during the year is the company's land and buildings comprise investment property held to earn rental income and/or for capital appreciation. This initially recognised at cost, including directly attributable acquisition costs, and subsequently measured at fair value at each reporting date. Investment properties measured at fair value are not depreciated.

4.	Revaluation of property, plant and equipment
	Investment property comprises the residential property, measured at a fair value of £161,307 at 31 October 2025. Fair value was assessed by the director using a desktop valuation with reference to comparable local property sales. Significant assumptions included comparable sale prices, adjusted for differences in size, location and condition, the property’s tenancy arrangements and prevailing market conditions at the reporting date. No fair-value movement arose during the period. No independent external valuer was engaged.

Revaluation of property, plant and equipment

Investment property comprises the residential property, measured at a fair value of £161,307 at 31 October 2025. Fair value was assessed by the director using a desktop valuation with reference to comparable local property sales. Significant assumptions included comparable sale prices, adjusted for differences in size, location and condition, the property’s tenancy arrangements and prevailing market conditions at the reporting date. No fair-value movement arose during the period. No independent external valuer was engaged.

5.	Debtors: amounts due within one year

		2025
		£
	Prepayments and accrued income	199
	Total	199


	This represents amounts due to the company that are expected to be received within twelve months of the reporting date. This typically include: Prepayments: Amounts paid in advance for goods or services to be received after the reporting date.

6.	Debtors: amounts due after one year

		2025
		£
	Prepayments and accrued income	3,775
	Total	3,775


	This represents amounts due to the company that are not expected to be received within twelve months of the reporting date. This include: Unamortised mortgage arrangement fees: These represent the product fee and telegraphic transfer (TT) charge relating to the mortgage loan, which will be recognised as finance costs over the 25-year mortgage term.

7.	Creditors: amounts due within one year

		2025
		£
	Amounts owed to related parties	85,485
	Taxation and social security	7
	Accrued liabilities and deferred income	1,098
	Total	86,590


	This represents amounts payable by the company that are expected to be settled within twelve months of the reporting date. This consists of: Amounts owed to related parties: Amounts payable to related parties. At 31 October 2025, the company owed its director, Mhairi Gibbons, £85,485 (opening balance: £nil). The balance arose from funds advanced to the company and expenses paid on its behalf, net of repayments. The loan is unsecured, interest-free and repayable on demand. Taxation and social security: This comprises corporation tax for the year. Accrued liabilities: Amounts accrued for expenses incurred but not yet paid at the reporting date.

This represents amounts payable by the company that are expected to be settled within twelve months of the reporting date. This consists of:

Amounts owed to related parties: Amounts payable to related parties. At 31 October 2025, the company owed its director, Mhairi Gibbons, £85,485 (opening balance: £nil). The balance arose from funds advanced to the company and expenses paid on its behalf, net of repayments. The loan is unsecured, interest-free and repayable on demand.

Taxation and social security: This comprises corporation tax for the year.

Accrued liabilities: Amounts accrued for expenses incurred but not yet paid at the reporting date.

8.	Creditors: amounts due after one year

		2025
		£
	Bank borrowings and overdrafts	81,903
	Total	81,903


	This represents amounts payable by the company that are not expected to be settled within twelve months of the reporting date. The balance comprises: Bank borrowings and overdrafts: A long-term loan from a financial institution, repayable after more than twelve months after the reporting date.

9.	Secured creditors
	The mortgage is secured over the company’s investment property. It is an interest-only mortgage with an original term of 25 years commencing in November 2024. Principal of £81,900 is repayable at the end of the term, more than five years after the reporting date. The borrowing is presented at amortised cost.

10.	Share capital
	Allotted, called up and fully paid: 2025: 1 Ordinary share of £1 — Total share capital £1

	Notes	2025
		£	£
ASSETS
Fixed assets
Tangible assets	3		161,307
			161,307
Current assets
Debtors	5,6	3,974
Cash at bank and in hand		3,242
		7,216
			7,216
			168,523
CAPITAL, RESERVES AND LIABILITIES
Capital and reserves
Called up share capital			1
Profit and loss account			29
			30
Liabilities
Creditors amounts falling due within one year	7		86,590
Creditors amounts falling due after one year	8		81,903
			168,523