Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Rory Euan Ballantyne 13/01/2022 Gordon Richard Mckenzie 13/01/2022 Scott Webster 13/01/2022 18 July 2024 The principal activity of the Company during the financial year was that of property lettings. SC298078 2023-12-31 SC298078 bus:Director1 2023-12-31 SC298078 bus:Director2 2023-12-31 SC298078 bus:Director3 2023-12-31 SC298078 core:CurrentFinancialInstruments 2023-12-31 SC298078 core:CurrentFinancialInstruments 2022-12-31 SC298078 2022-12-31 SC298078 core:ShareCapital 2023-12-31 SC298078 core:ShareCapital 2022-12-31 SC298078 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC298078 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC298078 core:PlantMachinery 2022-12-31 SC298078 core:PlantMachinery 2023-12-31 SC298078 bus:OrdinaryShareClass1 2023-12-31 SC298078 2023-01-01 2023-12-31 SC298078 bus:FilletedAccounts 2023-01-01 2023-12-31 SC298078 bus:SmallEntities 2023-01-01 2023-12-31 SC298078 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC298078 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC298078 bus:Director1 2023-01-01 2023-12-31 SC298078 bus:Director2 2023-01-01 2023-12-31 SC298078 bus:Director3 2023-01-01 2023-12-31 SC298078 core:PlantMachinery core:TopRangeValue 2023-01-01 2023-12-31 SC298078 2022-01-01 2022-12-31 SC298078 core:PlantMachinery 2023-01-01 2023-12-31 SC298078 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 SC298078 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC298078 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 SC298078 1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC298078 (Scotland)

CAPITAL LETTINGS LIMITED

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

CAPITAL LETTINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

CAPITAL LETTINGS LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
CAPITAL LETTINGS LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
2023 2022
£ £
Current assets
Debtors 4 6,969 0
Cash at bank and in hand 0 60,574
6,969 60,574
Creditors: amounts falling due within one year 5 ( 10,300) ( 54,857)
Net current (liabilities)/assets (3,331) 5,717
Total assets less current liabilities (3,331) 5,717
Net (liabilities)/assets ( 3,331) 5,717
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 3,431 ) 5,617
Total shareholder's (deficit)/funds ( 3,331) 5,717

For the financial year ending 31 December 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 Capital Lettings Limited (registered number: SC298078) were approved and authorised for issue by the Board of Directors on 18 July 2024. They were signed on its behalf by:

Rory Euan Ballantyne
Director
CAPITAL LETTINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
CAPITAL LETTINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 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

Capital Lettings 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 30 Stafford Street, Edinburgh, EH3 7BD, 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

In 2024 the directors made the decision that the Company would cease trading . As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for property lettings services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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

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:

Plant and machinery 5 years straight line

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 (if any).

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 are initially measured at transaction price including transaction costs. 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 and loans from fellow group companies are initially recognised at transaction price. 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.

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

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 January 2023 4,141 4,141
Disposals ( 4,141) ( 4,141)
At 31 December 2023 0 0
Accumulated depreciation
At 01 January 2023 4,141 4,141
Disposals ( 4,141) ( 4,141)
At 31 December 2023 0 0
Net book value
At 31 December 2023 0 0
At 31 December 2022 0 0

4. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 4,640 0
Other debtors 2,329 0
6,969 0

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 125
Amounts owed to Group undertakings 8,620 6,150
Accruals 1,680 1,751
Other taxation and social security 0 1,513
Other creditors 0 45,318
10,300 54,857

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Other related party transactions

2023 2022
£ £
Amount owed to a associated company 8,620 6,150
Amount owed from a associated company 4,631 0

The above loans are unsecured, interest-free and repayable on demand.

8. Ultimate controlling party

Parent Company:

Ballantynes Lettings Limited
30 Stafford Street, Edinburgh, EH3 7BD, United Kingdom

The ultimate controlling entity is Ballantynes Property Group Limited, a company registered at 30 Stafford Street, Edinburgh, EH3 7BD, United Kingdom.