Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr S Cook 21/12/2017 Mr E D Marshall 21/12/2017 Mr K Reid 21/12/2017 Mr S Simpson 21/12/2017 02 September 2024 The principal activity of the company continued to be that of the development of buildings. SC584308 2024-03-31 SC584308 bus:Director1 2024-03-31 SC584308 bus:Director2 2024-03-31 SC584308 bus:Director3 2024-03-31 SC584308 bus:Director4 2024-03-31 SC584308 2023-03-31 SC584308 core:CurrentFinancialInstruments 2024-03-31 SC584308 core:CurrentFinancialInstruments 2023-03-31 SC584308 core:ShareCapital 2024-03-31 SC584308 core:ShareCapital 2023-03-31 SC584308 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC584308 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC584308 bus:OrdinaryShareClass1 2024-03-31 SC584308 bus:OrdinaryShareClass2 2024-03-31 SC584308 2023-04-01 2024-03-31 SC584308 bus:FilletedAccounts 2023-04-01 2024-03-31 SC584308 bus:SmallEntities 2023-04-01 2024-03-31 SC584308 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC584308 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC584308 bus:Director1 2023-04-01 2024-03-31 SC584308 bus:Director2 2023-04-01 2024-03-31 SC584308 bus:Director3 2023-04-01 2024-03-31 SC584308 bus:Director4 2023-04-01 2024-03-31 SC584308 2022-04-01 2023-03-31 SC584308 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 SC584308 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC584308 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC584308 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 SC584308 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC584308 (Scotland)

37 CORSTORPHINE ROAD LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

37 CORSTORPHINE ROAD LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

37 CORSTORPHINE ROAD LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024
37 CORSTORPHINE ROAD LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
2024 2023
£ £
Current assets
Stocks 251,476 203,736
Debtors 3 285,000 285,652
Cash at bank and in hand 875 819
537,351 490,207
Creditors: amounts falling due within one year 4 ( 563,022) ( 512,865)
Net current liabilities (25,671) (22,658)
Total assets less current liabilities (25,671) (22,658)
Net liabilities ( 25,671) ( 22,658)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account ( 25,771 ) ( 22,758 )
Total shareholders' deficit ( 25,671) ( 22,658)

For the financial year ending 31 March 2024 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 37 Corstorphine Road Limited (registered number: SC584308) were approved and authorised for issue by the Board of Directors on 02 September 2024. They were signed on its behalf by:

Mr S Cook
Director
37 CORSTORPHINE ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
37 CORSTORPHINE ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
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

37 Corstorphine Road 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 18 Walker Street, Edinburgh, EH3 7LP, 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 financial statements have been prepared on the going concern basis. In coming to this conclusion, the directors have sought assurances from the related party creditors that the liabilities will not be made payable until such a time that the payment would not have a detrimental effect on the business. The related parties will continue to finance the company for the foreseeable future until such a point that the business becomes self sufficient.

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.

Stocks

Work in progress is stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes professional fees and architecture fees in relation to the project.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of work in progress over the estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss.

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 measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are recognised at transaction price.

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.

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. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, excluding directors 0 0

3. Debtors

2024 2023
£ £
Other debtors 285,000 285,652

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 29,403 5,768
Other taxation and social security 587 0
Other creditors 533,032 507,097
563,022 512,865

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

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each 50 50
50 B ordinary shares of £ 1.00 each 50 50
100 100

6. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Amounts due to related parties 529,731 503,962

The above balance is interest free and has no fixed terms of repayment.