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REGISTERED NUMBER: SC064237 (Scotland)
















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Eldon Developments Ltd.

Eldon Developments Ltd. (Registered number: SC064237)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Eldon Developments Ltd.

Company Information
for the Year Ended 31 January 2023







DIRECTOR: A W Lobban





SECRETARY: Mrs L C M Johnstone





REGISTERED OFFICE: c/o Gillespie & Anderson CA
147 Bath Street
Glasgow
G2 4SN





REGISTERED NUMBER: SC064237 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
147 Bath Street
Glasgow
G2 4SN

Eldon Developments Ltd. (Registered number: SC064237)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,041,834 1,041,834

CURRENT ASSETS
Debtors 5 54,627 47,273
Cash at bank 90,682 90,333
145,309 137,606
CREDITORS
Amounts falling due within one year 6 29,891 14,771
NET CURRENT ASSETS 115,418 122,835
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,157,252

1,164,669

CAPITAL AND RESERVES
Called up share capital 101 101
Other reserves 586,434 586,434
Retained earnings 570,717 578,134
SHAREHOLDERS' FUNDS 1,157,252 1,164,669

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2023 and were signed by:





A W Lobban - Director


Eldon Developments Ltd. (Registered number: SC064237)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Eldon Developments Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The director has made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The director's estimates, assumptions and judgements that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes.

Turnover
Turnover represents revenue recognised in the financial statements. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying goods and services, and is exclusive of VAT.

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.
Plant and machinery etc - 25% on cost

No depreciation is provided in respect of freehold investment properties in accordance with FRS 102, as these are regarded as investment properties, which are accordingly measured at fair value at the balance sheet date. Any changes in fair value measurement are recognised in profit or loss.

Financial instruments
The company has no complex financial instruments but does hold basic financial instruments of; cash at bank, debtors and creditors.

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 and bank overdrafts. Any bank overdraft would be shown within current liabilities.

Trade and other debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effective of discounting would be immaterial. In such cases, trade and other debtors are stated at cost less losses for bad debts.

Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other creditors are stated at cost.


Eldon Developments Ltd. (Registered number: SC064237)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Employee benefits
The total cost of employee benefits to which employees have become entitled as a result of service rendered to the entity during the reporting period are recognised and charged to the profit and loss account in the period to which they relate.

Provision for liabilities
A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 February 2022
and 31 January 2023 1,041,834 1,291 1,043,125
DEPRECIATION
At 1 February 2022
and 31 January 2023 - 1,291 1,291
NET BOOK VALUE
At 31 January 2023 1,041,834 - 1,041,834
At 31 January 2022 1,041,834 - 1,041,834

The amounts shown as land & buildings relate solely to the company's investment property portfolio.

Eldon Developments Ltd. (Registered number: SC064237)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 January 2023 is represented by:

Land and
buildings
£   
Valuation in 2005 675,519
Valuation in 2012 (89,085 )
Cost 455,400
1,041,834

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 455,400 455,400

Investment properties were valued on an open market value basis on 31 January 2023 by the director of the company .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,472 1,396
Other debtors 46,155 45,877
54,627 47,273

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 4,848 3,290
Other creditors 25,043 11,481
29,891 14,771

7. OTHER FINANCIAL COMMITMENTS

After the balance sheet date, but prior to the financial statements being formally approved, the company paid out dividends totalling £20,160.

8. RELATED PARTY DISCLOSURES

The director's loan account at 31 January 2023 stands at £1602 (2022 - £731). Movement in the year consisted of company expenses met by the director.

9. ULTIMATE CONTROLLING PARTY

Following share transfers made in a previous year, the director considers that no individual has ultimate control of the company, due to the distribution of the issued share capital in the company between shareholders in the company.