Company registration number SC688026 (Scotland)
JAMES CRAIG MARTS HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
JAMES CRAIG MARTS HOLDINGS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
JAMES CRAIG MARTS HOLDINGS LTD
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
542,951
265,918
Current assets
Debtors
4
6,539
-
0
Cash at bank and in hand
385
-
0
6,924
-
0
Creditors: amounts falling due within one year
5
(605)
(1,050)
Net current assets/(liabilities)
6,319
(1,050)
Net assets
549,270
264,868
Capital and reserves
Called up share capital
6
400
400
Revaluation reserve
542,951
265,918
Profit and loss reserves
5,919
(1,450)
Total equity
549,270
264,868

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 29 April 2024 and are signed on its behalf by:
Mr J T Craig
Director
Company Registration No. SC688026
JAMES CRAIG MARTS HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information

James Craig Marts Holdings Ltd is a private company limited by shares incorporated in Scotland. The registered office is Livestock Auction Mart, Whitefordhill, Ayr, Ayrshire, United Kingdom, KA6 5JW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
2
2
JAMES CRAIG MARTS HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
3
Fixed asset investments
2024
2023
£
£
Unlisted investments
542,951
265,918
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 February 2023
265,918
Valuation changes
277,033
At 31 January 2024
542,951
Carrying amount
At 31 January 2024
542,951
At 31 January 2023
265,918
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
6,539
-
0
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
-
0
500
Accruals and deferred income
605
550
605
1,050
6
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
400 shares of £1 each
400
400
400
400
7
Related party transactions
JAMES CRAIG MARTS HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
7
Related party transactions
(Continued)
- 4 -

James Craig Limited

At the balance sheet date, £8,500 (2023 - £500) was owed by the company to James Craig Limited, a company under common control of directors, M D & J T Craig.

 

James Craig Marts Limited

At the balance sheet date, £15,039 (2023 - £NIL) was owed by the company from James Craig Marts Limited, a company under common control of directors, M D & J T Craig.

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