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Registered number: SC289954










SCOTBLINDS LARBERT LIMITED

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
SCOTBLINDS LARBERT LIMITED
 

COMPANY INFORMATION


Directors
Mr A Blaney 
Mrs M Blaney 
Mr L Blaney 
Mr C Blaney 




Registered number
SC289954



Registered office
Unit 10 Springkerse Trade Park
Craig Leith Road

Stirling

FK7 7GN




Independent auditors
Sumer Auditco Limited
Chartered Accountants & Statutory Auditors

14 City Quay

Dundee

DD1 3JA





 
SCOTBLINDS LARBERT LIMITED
REGISTERED NUMBER: SC289954

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
£
£

Fixed assets
  

Tangible fixed assets
  
-
5,126

  
-
5,126

Current assets
  

Stocks
  
-
368

Debtors: amounts falling due within one year
 5 
1,000
5,800

Bank and cash balances
  
-
79,591

  
1,000
85,759

Creditors: amounts falling due within one year
 6 
-
(40,889)

Net current assets
  
 
 
1,000
 
 
44,870

Total assets less current liabilities
  
1,000
49,996

Provisions for liabilities
  

Deferred tax
  
-
(1,230)

  
 
 
-
 
 
(1,230)

Net assets
  
1,000
48,766


Capital and reserves
  

Called up share capital 
 7 
1,000
1,000

Profit and loss account
  
-
47,766

  
1,000
48,766


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 September 2024.




Mr L Blaney
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 1

 
SCOTBLINDS LARBERT LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 September 2021
1,000
28,357
29,357


Comprehensive income for the period

Profit for the period
-
19,409
19,409



At 1 January 2023
1,000
47,766
48,766

Group reconstruction transfer
-
(47,766)
(47,766)


At 31 December 2023
1,000
-
1,000


The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
SCOTBLINDS LARBERT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Scotblinds Larbert Limited is a private company limited by shares domiciled in Scotland with registration number SC289954. The registered office is Unit 10 Springkerse Trade Park, Craig Leith Road, Stirling, Scotland, FK7 7GN.
The Company's functional and presentational currency is GBP. 
On 31 December 2023 the entire trade of Scotblinds Larbert Limited was transferred to its sister company Rainbow Blinds and Fabrics Limited. Merger accounting has been used to account for this group reconstruction and consequently the Company shows no trading for the year to 31 December 2023 and the Statement of Financial Position shows only the remaining share capital and an intercompany balance as at 31 December 2023. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
SCOTBLINDS LARBERT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
Motor vehicles
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
SCOTBLINDS LARBERT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


3.


Employees

2023
2022
£
£

Wages and salaries
-
65,128

-
65,128


The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£





At 1 January 2023
2,095
13,990
16,085


Transfers intra group
(2,095)
(13,990)
(16,085)



At 31 December 2023

-
-
-





At 1 January 2023
904
10,055
10,959


Transfers intra group
(904)
(10,055)
(10,959)



At 31 December 2023

-
-
-



Net book value



At 31 December 2023
-
-
-



At 31 December 2022
1,191
3,935
5,126


5.


Debtors

2023
2022
£
£

Page 5

 
SCOTBLINDS LARBERT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.Debtors (continued)


Trade debtors
-
340

Amounts owed by group undertakings
1,000
2,288

Prepayments and accrued income
-
3,172

1,000
5,800



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
2,583

Amounts owed to group undertakings
-
19,980

Corporation tax
-
4,936

Other taxation and social security
-
4,282

Other creditors
-
9,108

-
40,889


Group borrowing is secured by an inter-company guarantee and a bond and floating charge over the assets of the company.


7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



8.


Related party transactions

The Company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the Group.


9.


Controlling party

The immediate parent company is  GC Group Limited, a company registered in Scotland. 
The ultimate parent undertaking is Crest Properties (Scotland) Ltd, a company registered in Scotland, with a registered office of 8 Pendreich Road, Bridge of Allan, Stirling, Stirlingshire, FK9 4LY.
Crest Properties (Scotland) Ltd is the parent undertaking of the smallest and largest group of undertakings to consolidate these financial statements at 31 December 2023. The results of Scotblinds Larbert Limited are included within the consolidated financial statements of Crest Properties (Scotland) Ltd.

Page 6

 
SCOTBLINDS LARBERT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 24 September 2024 by Douglas Rae (Senior Statutory Auditor) on behalf of Sumer Auditco Limited.


Page 7