REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 November 2023 |
for |
Arran Holdings Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
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 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Land and buildings | - |
Plant and machinery etc | - |
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 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 December 2022 |
Reclassification of property | 1,780,000 | - | 1,780,000 |
At 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
and 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
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 |
Revaluations |
Reclassification of Property | (1,780,000 | ) |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
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 |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
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 |
Revaluation in period | 880,000 |
Deferred tax movement | (233,709 | ) |
At 30 November 2023 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |