Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mrs J McEwan 25/02/1998 Mr J McEwan 25/02/1998 01 November 2023 The principal activity of the Company during the financial year continued to be the lease of car park spaces. SC183331 2023-03-31 SC183331 bus:Director1 2023-03-31 SC183331 bus:Director2 2023-03-31 SC183331 2022-03-31 SC183331 core:CurrentFinancialInstruments 2023-03-31 SC183331 core:CurrentFinancialInstruments 2022-03-31 SC183331 core:ShareCapital 2023-03-31 SC183331 core:ShareCapital 2022-03-31 SC183331 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC183331 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC183331 core:CostValuation 2022-03-31 SC183331 core:CostValuation 2023-03-31 SC183331 core:ProvisionsForImpairmentInvestments 2022-03-31 SC183331 core:ProvisionsForImpairmentInvestments 2023-03-31 SC183331 bus:OrdinaryShareClass1 2023-03-31 SC183331 core:KeyManagementPersonnel 2023-03-31 SC183331 core:KeyManagementPersonnel 2022-03-31 SC183331 2022-04-01 2023-03-31 SC183331 bus:FullAccounts 2022-04-01 2023-03-31 SC183331 bus:SmallEntities 2022-04-01 2023-03-31 SC183331 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC183331 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC183331 bus:Director1 2022-04-01 2023-03-31 SC183331 bus:Director2 2022-04-01 2023-03-31 SC183331 2021-04-01 2022-03-31 SC183331 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC183331 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 SC183331 core:KeyManagementPersonnel 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC183331 (Scotland)

PRINCES STREET CAR PARK LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

PRINCES STREET CAR PARK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

PRINCES STREET CAR PARK LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023
PRINCES STREET CAR PARK LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 18,922 18,922
18,922 18,922
Current assets
Debtors 4 1,198 290
Cash at bank and in hand 5 7,488 11,771
8,686 12,061
Creditors: amounts falling due within one year 6 ( 4,008) ( 6,390)
Net current assets 4,678 5,671
Total assets less current liabilities 23,600 24,593
Net assets 23,600 24,593
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 23,598 24,591
Total shareholders' funds 23,600 24,593

For the financial year ending 31 March 2023 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 Princes Street Car Park Limited (registered number: SC183331) were approved and authorised for issue by the Director on 01 November 2023. They were signed on its behalf by:

Mrs J McEwan
Director
PRINCES STREET CAR PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PRINCES STREET CAR PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
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

Princes Street Car Park Limited (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 Mount Tabor House, Mount Tabor Road, Kinnoull, Perth, PH2 7DE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 provided in the normal course of business.

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

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.

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, 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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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).

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are 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.

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

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 April 2022 18,922 18,922
At 31 March 2023 18,922 18,922
Provisions for impairment
At 01 April 2022 0 0
At 31 March 2023 0 0
Carrying value at 31 March 2023 18,922 18,922
Carrying value at 31 March 2022 18,922 18,922

4. Debtors

2023 2022
£ £
Trade debtors 965 290
Corporation tax 233 0
1,198 290

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 7,488 11,771

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 0 1,128
Other creditors 4,008 5,262
4,008 6,390

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

Transactions with the entity’s directors (or members of its governing body)

Amounts owed to directors

2023 2022
£ £
Key management personnel 27 27

The above loan is unsecured, interest free and repayable on demand.