Silverfin false 31/10/2022 28/10/2021 31/10/2022 Mr A Burt 28/10/2021 Ms A Nisbet 28/10/2021 24 October 2023 The principal activity of the company during the financial period was services for estate management. SC713468 2022-10-31 SC713468 bus:Director1 2022-10-31 SC713468 bus:Director2 2022-10-31 SC713468 core:CurrentFinancialInstruments 2022-10-31 SC713468 core:ShareCapital 2022-10-31 SC713468 core:RetainedEarningsAccumulatedLosses 2022-10-31 SC713468 2021-10-27 SC713468 bus:OrdinaryShareClass1 2022-10-31 SC713468 2021-10-28 2022-10-31 SC713468 bus:FullAccounts 2021-10-28 2022-10-31 SC713468 bus:SmallEntities 2021-10-28 2022-10-31 SC713468 bus:AuditExemptWithAccountantsReport 2021-10-28 2022-10-31 SC713468 bus:PrivateLimitedCompanyLtd 2021-10-28 2022-10-31 SC713468 bus:Director1 2021-10-28 2022-10-31 SC713468 bus:Director2 2021-10-28 2022-10-31 SC713468 bus:OrdinaryShareClass1 2021-10-28 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC713468 (Scotland)

TUATHAIR LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 28 OCTOBER 2021 TO 31 OCTOBER 2022
PAGES FOR FILING WITH THE REGISTRAR

TUATHAIR LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 28 OCTOBER 2021 TO 31 OCTOBER 2022

Contents

TUATHAIR LTD

BALANCE SHEET

AS AT 31 OCTOBER 2022
TUATHAIR LTD

BALANCE SHEET (continued)

AS AT 31 OCTOBER 2022
Note 31.10.2022
£
Fixed assets
Investment property 3 182,856
182,856
Current assets
Debtors 4 71
Cash at bank and in hand 13,268
13,339
Creditors: amounts falling due within one year 5 ( 192,480)
Net current liabilities (179,141)
Total assets less current liabilities 3,715
Net assets 3,715
Capital and reserves
Called-up share capital 6 2
Profit and loss account 3,713
Total shareholders' funds 3,715

For the financial period ending 31 October 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Tuathair Ltd (registered number: SC713468) were approved and authorised for issue by the Director on 24 October 2023. They were signed on its behalf by:

Mr A Burt
Director
TUATHAIR LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 28 OCTOBER 2021 TO 31 OCTOBER 2022
TUATHAIR LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 28 OCTOBER 2021 TO 31 OCTOBER 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Tuathair 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 4/2 996 Pollokshaws Road, Glasgow, G41 2HA, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net assets of £3,715. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

These financial statements represent the company's first reporting period covering from incorporation on 28 October 2021 to 31 October 2022.

Turnover

Turnover from rental receipts is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

Period from
28.10.2021 to
31.10.2022
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Investment property

Investment property
£
Valuation
As at 28 October 2021 0
Additions 182,856
As at 31 October 2022 182,856

Valuation

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 October 2022 by the directors. The directors have considered similar transactions in the market to arrive at the fair value.

4. Debtors

31.10.2022
£
Other debtors 71

5. Creditors: amounts falling due within one year

31.10.2022
£
Taxation and social security 1,037
Other creditors 191,443
192,480

6. Called-up share capital

31.10.2022
£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2

7. Related party transactions

Transactions with the entity's directors

31.10.2022
£
Amounts owed to Directors 189,842