Residence Estate Agents Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC414819 (Scotland)

Unaudited Financial Statements

For The Year Ended 31 January 2026

for

Residence Estate Agents Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

K McAllister

A Watt

REGISTERED OFFICE:

34 Cadzow Street

Hamilton

Lanarkshire

ML3 6DG

REGISTERED NUMBER:

SC414819 (Scotland)

ACCOUNTANTS:

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Residence Estate Agents Limited for the year ended 31 January 2026 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Residence Estate Agents Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Residence Estate Agents Limited and state those matters that we have agreed to state to the Board of Directors of Residence Estate Agents Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Residence Estate Agents Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Residence Estate Agents Limited. You consider that Residence Estate Agents Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Residence Estate Agents Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

31 October 2026

FIXED ASSETS

Tangible assets

4

403,686

433,453

CURRENT ASSETS

Debtors

5

292,550

146,332

Cash at bank and in hand

130,149

152,760

422,699

299,092

CREDITORS

Amounts falling due within one year

6

496,962

506,645

NET CURRENT LIABILITIES

(74,263

)

(207,553

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

329,423

225,900

CREDITORS

Amounts falling due after more than one year

7

(135,262

)

(171,296

)

PROVISIONS FOR LIABILITIES

9

(8,266

)

(18,812

)

NET ASSETS

185,895

35,792

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

185,795

35,692

SHAREHOLDERS' FUNDS

185,895

35,792

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2026 and were signed on its behalf by:

A Watt - Director

K McAllister - Director

1.	STATUTORY INFORMATION

Residence Estate Agents Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

50% on cost, 25% on reducing balance and 25% on cost

Computer equipment

-

33% on cost

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances

Cash and bank balances are measured at the transaction price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2025 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

COST

At 1 February 2025

387,764

500

141,057

Additions

-

116

2,269

Disposals

-

At 31 January 2026

387,764

616

143,326

DEPRECIATION

At 1 February 2025

55,276

100

122,370

Charge for year

7,756

123

4,191

Eliminated on disposal

-

At 31 January 2026

63,032

223

126,561

NET BOOK VALUE

At 31 January 2026

324,732

393

16,765

At 31 January 2025

332,488

400

18,687

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 February 2025

121,868

30,514

681,703

Additions

56,534

7,404

66,323

Disposals

(89,848

)

-

(89,848

)

At 31 January 2026

88,554

37,918

658,178

DEPRECIATION

At 1 February 2025

49,384

21,120

248,250

Charge for year

17,852

8,965

38,887

Eliminated on disposal

(32,645

)

-

(32,645

)

At 31 January 2026

34,591

30,085

254,492

NET BOOK VALUE

At 31 January 2026

53,963

7,833

403,686

At 31 January 2025

72,484

9,394

433,453

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Motor

vehicles

£

COST

Additions

20,575

Reclassification/transfer

33,478

At 31 January 2026

54,053

DEPRECIATION

Charge for year

9,227

Reclassification/transfer

16,739

At 31 January 2026

25,966

NET BOOK VALUE

At 31 January 2026

28,087

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

Trade debtors

120,399

108,760

Amounts owed by associates

134,716

-

Other debtors

37,435

37,572

292,550

146,332

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

Bank loans and overdrafts

18,034

24,922

Hire purchase contracts and finance leases

19,710

24,225

Trade creditors

3,522

1,938

Amounts owed to associates

171,390

218,761

Taxation and social security

109,256

57,921

Other creditors

175,050

178,878

496,962

506,645

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.26

31.1.25

£

Bank loans

104,336

121,997

Hire purchase contracts and finance leases

30,926

49,299

135,262

171,296

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.26

31.1.25

£

Bank loan

118,840

132,969

All and whole the office premises forming 30,32, 34 and 34A Cadzow Street, Hamilton being the whole subjects registered in the land register of Scotland under title number LAN1241.

61 & 63 Main Street, Uddingston LAN11134. Notification of addition to or amendment of charge.

Floating charge covers all the property or undertaking of the company.

9.	PROVISIONS FOR LIABILITIES

31.1.26

31.1.25

£

Deferred tax

8,266

18,812

Deferred

tax

£

Balance at 1 February 2025

18,812

Provided during year

(10,546

)

Balance at 31 January 2026

8,266

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2026 and 31 January 2025:

31.1.26

31.1.25

£

A Watt

Balance outstanding at start of year

-

41,944

Amounts repaid

-

(41,944

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

K McAllister

Balance outstanding at start of year

-

3,210

Amounts repaid

-

(3,210

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

11.	RELATED PARTY DISCLOSURES

As at 31/01/2026, Residence Estate Agents Ltd owed £85,863 to Residence Property Letting Ltd. These companies have directors and shareholders in common.