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REGISTERED NUMBER: SC735008 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Sixty Seven Group Limited

Sixty Seven Group Limited (Registered number: SC735008)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sixty Seven Group Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: C A Bell
M L Steel
G A Brown
G McInally





REGISTERED OFFICE: 6 Logie Mill
Beaverbank Business Park
Edinburgh
Midlothian
EH7 4HG





REGISTERED NUMBER: SC735008 (Scotland)





ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG

Sixty Seven Group Limited (Registered number: SC735008)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,354,626 1,354,626

CURRENT ASSETS
Debtors 5 - 2,280
Cash at bank 20,552 20,902
20,552 23,182
CREDITORS
Amounts falling due within one year 6 237,420 258,140
NET CURRENT LIABILITIES (216,868 ) (234,958 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,137,758

1,119,668

CREDITORS
Amounts falling due after more than one year 7 762,703 914,565
NET ASSETS 375,055 205,103

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 374,955 205,003
SHAREHOLDERS' FUNDS 375,055 205,103

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





C A Bell - Director


Sixty Seven Group Limited (Registered number: SC735008)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Sixty Seven Group Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries
Investments in subsidiaries are measured at cost less impairment. Cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration.

Impairment
Assets and investments in subsidiaries not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Sixty Seven Group Limited (Registered number: SC735008)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 1,354,626
NET BOOK VALUE
At 30 April 2024 1,354,626
At 30 April 2023 1,354,626

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Mearns & Company Limited
Registered office: 112 Commercial Street, Edinburgh, Scotland, EH6 6NF
Nature of business: Financial planning
%
Class of shares: holding
Ordinary 100.00
30.4.24 30.4.23
£    £   
Aggregate capital and reserves 660,608 470,612
Profit for the year/period 641,716 468,475

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors - 2,280

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other creditors 237,420 258,140

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Other creditors 762,703 914,565

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100

Sixty Seven Group Limited (Registered number: SC735008)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. RESERVES
Retained
earnings
£   

At 1 May 2023 205,003
Profit for the year 377,952
Dividends (208,000 )
At 30 April 2024 374,955

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 30 April 2024, the company owed the directors £80,670 (2023: £101,474).

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £201,760 (2023 - £104,000) were paid to the directors .





Related Party




Transaction


Amount in the
year ended
30.4.24


Amount in the
year ended
30.4.23
Balance
receivable
from/(payable
to) related party
at 30.4.24
Balance
receivable
from/(payable
to) related party
at 30.4.23
£ £ £ £

Mearns & Company Limited Dividends 451,720 337,740 - -
Loan - 2,820 - 2,280

Relatives of directors Loan interest
paid
(56,096) (24,803) - -
Loan 151,862 (1,069,551) (917,689) (1,069,551)
Dividends (6,240) - - -

Directors Loan interest
paid
(4,921) (2,195) - -

Mearns & Company Limited is a 100% subsidiary of Sixty Seven Group Limited.

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.