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REGISTERED NUMBER: SC100686 (Scotland)















Financial Statements for the Year Ended 30 November 2023

for

Arran Holdings Limited

Arran Holdings Limited (Registered number: SC100686)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Arran Holdings Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: H B Nugent



REGISTERED OFFICE: Caledonia House
Thornliebank Industrial Estate
Glasgow
G46 8JT



REGISTERED NUMBER: SC100686 (Scotland)



SENIOR STATUTORY AUDITOR: Robert A Pollock BA CA



AUDITORS: Sharles Audit Limited
Statutory Auditor
29 Brandon Street
Hamilton
ML3 6DA

Arran Holdings Limited (Registered number: SC100686)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,780,000 -
Investment property 6 - 900,000
1,780,000 900,000

CURRENT ASSETS
Debtors 7 256,667 30,000
Cash at bank 100,156 310,489
356,823 340,489
CREDITORS
Amounts falling due within one year 8 22,667 39,803
NET CURRENT ASSETS 334,156 300,686
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,114,156

1,200,686

PROVISIONS FOR LIABILITIES 277,122 43,413
NET ASSETS 1,837,034 1,157,273

CAPITAL AND RESERVES
Called up share capital 4,327 4,327
Revaluation reserve 9 1,149,378 503,087
Retained earnings 683,329 649,859
SHAREHOLDERS' FUNDS 1,837,034 1,157,273

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2024 and were signed by:





H B Nugent - Director


Arran Holdings Limited (Registered number: SC100686)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Arran Holdings Limited 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. STATEMENT OF COMPLIANCE

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. There were no material departures from the standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is derived from rental income received by the company.

Turnover is measured at the fair value of rental income received and is recognised at the point the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 20% on cost

Tangible fixed assets held for the companies own use are stated at fair value or cost less accumulated depreciation and accumulated impairment loss.

Freehold property is valued at fair value. Any surplus or deficit on revaluation is adjusted against revaluation reserve.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Arran Holdings Limited (Registered number: SC100686)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 December 2022 - 5,749 5,749
Reclassification of property 1,780,000 - 1,780,000
At 30 November 2023 1,780,000 5,749 1,785,749
DEPRECIATION
At 1 December 2022
and 30 November 2023 - 5,749 5,749
NET BOOK VALUE
At 30 November 2023 1,780,000 - 1,780,000

Cost or valuation at 30 November 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 1,427,500 - 1,427,500
Cost 352,500 5,749 358,249
1,780,000 5,749 1,785,749

Arran Holdings Limited (Registered number: SC100686)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS - continued

If Property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 352,500 -

Value of land in freehold land and buildings 352,500 -

Freehold property was valued on an open market basis on 8 June 2022 by Thomsons, property consultants .

6. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 December 2022 900,000
Revaluations 880,000
Reclassification of Property (1,780,000 )
At 30 November 2023 -
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 900,000

Cost or valuation at 30 November 2023 is represented by:
£   
Valuation in 2023 1,780,000
Cost (1,780,000 )

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 30,000 -
Other debtors 226,667 30,000
256,667 30,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 4,620
Taxation and social security 19,627 32,143
Other creditors 3,040 3,040
22,667 39,803

Arran Holdings Limited (Registered number: SC100686)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

9. RESERVES
Revaluation
reserve
£   
At 1 December 2022 503,087
Revaluation in period 880,000
Deferred tax movement (233,709 )

At 30 November 2023 1,149,378

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert A Pollock BA CA (Senior Statutory Auditor)
for and on behalf of Sharles Audit Limited

11. RELATED PARTY DISCLOSURES

The company's related parties are considered to be Weststrand Limited, Eaststrand Ltd, Kelvin Steels Ltd and Kelvin Steels (England) Limited. Weststrand Limited is the company's ultimate parent company, and the other companies are fellow subsidiaries.

Exemption has been taken from disclosing related party transactions with the company's related parties on the basis that consolidated financial statements have been prepared for the group headed by the company's parent, Weststrand Limited.

12. PARENT COMPANY

The company's parent is Eaststrand Ltd, a company registered in Scotland with its registered office at Caledonia House, Thornliebank Industrial Estate, Thornliebank, G46 8JT.