Registered number
SC360841
Great Interest Limited
Filleted Accounts
31 December 2023
Great Interest Limited
Registered number: SC360841
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 32,705,654 39,021,877
Cash at bank and in hand 30,222,443 2,867,216
62,928,097 41,889,093
Creditors: amounts falling due within one year 4 (59,520,800) (39,829,117)
Net current assets 3,407,297 2,059,976
Net assets 3,407,297 2,059,976
Capital and reserves
Called up share capital 1 1
Profit and loss account 3,407,296 2,059,975
Shareholder's funds 3,407,297 2,059,976
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Simon M Howie
Director
Approved by the board on 10 September 2024
Great Interest Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is the interest received and receivable on loans made to companies that are part of the wider Simon Howie Group of companies.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2023 2022
£ £
Other debtors 32,705,654 39,021,877
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 217,530 94,582
Other creditors 59,303,270 39,734,535
59,520,800 39,829,117
5 Transactions with the director
The director has loaned £13,736,000 (2022: £8,600,000) to the company. The loan is interest free and repayable on demand.
6 Controlling party
The company was under the control of the director, Mr Simon M Howie, throughout the year.
7 Other information
Great Interest Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
Findony
Muckhart Road
Dunning
Perthshire
PH2 0RA
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