Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mrs G J Catto 28/05/2021 Mr S A Catto 28/05/2021 22 November 2023 The principal activity of the company during the financial year was that of property ownership and rental. SC702797 2023-03-31 SC702797 bus:Director1 2023-03-31 SC702797 bus:Director2 2023-03-31 SC702797 2022-03-31 SC702797 core:CurrentFinancialInstruments 2023-03-31 SC702797 core:CurrentFinancialInstruments 2022-03-31 SC702797 core:ShareCapital 2023-03-31 SC702797 core:ShareCapital 2022-03-31 SC702797 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC702797 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC702797 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-03-31 SC702797 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-03-31 SC702797 bus:OrdinaryShareClass1 2023-03-31 SC702797 2022-04-01 2023-03-31 SC702797 bus:FullAccounts 2022-04-01 2023-03-31 SC702797 bus:SmallEntities 2022-04-01 2023-03-31 SC702797 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC702797 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC702797 bus:Director1 2022-04-01 2023-03-31 SC702797 bus:Director2 2022-04-01 2023-03-31 SC702797 2021-04-01 2022-03-31 SC702797 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC702797 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC702797 (Scotland)

MACTAVISH INVESTMENTS LIMITED

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

MACTAVISH INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

MACTAVISH INVESTMENTS LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023
MACTAVISH INVESTMENTS LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 524,520 0
524,520 0
Current assets
Debtors 4 12,023 10
Cash at bank and in hand 41,143 0
53,166 10
Creditors: amounts falling due within one year 5 ( 573,242) 0
Net current (liabilities)/assets (520,076) 10
Total assets less current liabilities 4,444 10
Net assets 4,444 10
Capital and reserves
Called-up share capital 6 10 10
Profit and loss account 4,434 0
Total shareholders' funds 4,444 10

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 Mactavish Investments Limited (registered number: SC702797) were approved and authorised for issue by the Director on 22 November 2023. They were signed on its behalf by:

Mr S A Catto
Director
MACTAVISH INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
MACTAVISH INVESTMENTS 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

Mactavish Investments 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 Clava House, Cradlehall Business Park, Inverness, IV2 5GH, 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 have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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.

Turnover

Turnover represents amounts receivable for rental income and is recognised on an accruals basis.

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 are 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.

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:

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.

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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

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

3. Investment property

Investment property
£
Valuation
As at 01 April 2022 0
Additions 524,520
As at 31 March 2023 524,520

The directors are satisfied that £524,520 is an appropriate fair value of the investment property as at 31 March 2023.

4. Debtors

2023 2022
£ £
Trade debtors 10,950 0
Other debtors 1,073 10
12,023 10

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to related parties 568,200 0
Taxation and social security 1,040 0
Other creditors 4,002 0
573,242 0

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10 Ordinary shares of £ 1.00 each 10 10

7. Related party transactions

Other related party transactions

2023 2022
£ £
Other related parties (creditor balance) 284,100 0
Other related parties (creditor balance) 284,100 0

The above balances are interest free, unsecured, and have no fixed terms of repayment.