Company No: SC608158 (Scotland)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Frances Anne Baker
	David Frank Riding

REGISTERED OFFICE	C/O Dains Accountants
	Miller Road
	Ayr
	KA7 2AY
	Scotland
	United Kingdom

COMPANY NUMBER

SC608158 (Scotland)

ACCOUNTANT	Dains
	Ellersley House
	30 Miller Road
	Ayr
	KA7 2AY

	Note	2026		2025
		£		£
Fixed assets
Investment property	3	1,169,981		1,169,981
		1,169,981		1,169,981
Current assets
Cash at bank and in hand	4	15,645		7,109
		15,645		7,109
Creditors: amounts falling due within one year	5	( 11,927)		( 8,424)
Net current assets/(liabilities)		3,718		(1,315)
Total assets less current liabilities		1,173,699		1,168,666
Creditors: amounts falling due after more than one year	6	( 935,688)		( 947,731)
Provision for liabilities	7	( 56,505)		( 55,347)
Net assets		181,506		165,588
Capital and reserves
Called-up share capital		100		100
Profit and loss account		181,406		165,488
Total shareholder's funds		181,506		165,588

For the financial year ending 31 January 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has 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 Frances Baker Property Ltd (registered number: SC608158) were approved and authorised for issue by the Board of Directors on 27 October 2026. They were signed on its behalf by:

Frances Anne Baker 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

Frances Baker Property Ltd (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 Dains Accountants, Miller Road, Ayr, KA7 2AY, Scotland, 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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.

Leases

The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the Company's net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the Company's net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

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. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	1		1

3. Investment property

	Investment property
	£
Valuation
As at 01 February 2025	1,169,981
As at 31 January 2026	1,169,981

4. Cash and cash equivalents

	2026		2025
	£		£
Cash at bank and in hand	15,645		7,109

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other
short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts
are shown within borrowings in creditors: amounts falling due within one year.

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	5,601		5,604
Taxation and social security	3,314		0
Other creditors	3,012		2,820
	11,927		8,424

6. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans (secured)	880,503		880,462
Other creditors	55,185		67,269
	935,688		947,731

The liability disclosed above as “not by instalments” relates to interest only bank loans secured over the properties. These mortgages are a variety of fixed and variable interest rate with varying future maturity dates.”

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2026		2025
	£		£
Bank loans	861,749		856,199

7. Deferred tax

	2026		2025
	£		£
At the beginning of financial year	( 55,347)		( 47,807)
Charged to the Profit and Loss Account	( 1,158)		( 7,540)
At the end of financial year	( 56,505)		( 55,347)

8. Related party transactions

Creditors due after more than one year includes the amount of £55,184 due by the company to its directors (2025
£67,267). This loan is repayable on demand and does bear interest.