COMPANY REGISTRATION NUMBER:
SC350813
Clyde Valley Investments Limited |
|
Filleted Unaudited Financial Statements |
|
Clyde Valley Investments Limited |
|
Statement of Financial Position |
|
31 March 2024
Fixed assets
Investments |
4 |
|
775,201 |
775,201 |
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
655,822 |
|
670,302 |
|
--------- |
|
--------- |
Net current liabilities |
|
655,822 |
670,302 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
119,379 |
104,899 |
|
|
--------- |
--------- |
Net assets |
|
119,379 |
104,899 |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
6 |
|
2 |
2 |
Profit and loss account |
7 |
|
119,377 |
104,897 |
|
|
--------- |
--------- |
Shareholders funds |
|
119,379 |
104,899 |
|
|
--------- |
--------- |
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
4 October 2024
, and are signed on behalf of the board by:
Mr T Wotherspoon |
|
Director |
|
|
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Company registration number:
SC350813
Clyde Valley Investments Limited |
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Notes to the Financial Statements |
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Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Stannergate House, 41 Dundee Road West, Broughty Ferry, Dundee, DD5 1NB.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value though profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 April 2023 and 31 March 2024 |
775,201 |
|
--------- |
Impairment |
|
At 1 April 2023 and 31 March 2024 |
– |
|
--------- |
|
|
Carrying amount |
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At 31 March 2024 |
775,201 |
|
--------- |
At 31 March 2023 |
775,201 |
|
--------- |
|
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The company owns 100% of the issued share capital of Clyde Valley Kindergarten Limited, a company registered in Scotland.
The aggregate amount of capital and reserves and the results of the subsidiary undertaking for the last relevant financial year were as follows:
Aggregate capital and reserves at 31 March 2024 - £406,726 (31 March 2023 - £448,068)
Loss for the year to 31 March 2024 - £47,418 (31 March 2023 - profit of £31,180)
5.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
– |
44,895 |
Corporation tax |
– |
2,583 |
Other creditors |
655,822 |
622,824 |
|
--------- |
--------- |
|
655,822 |
670,302 |
|
--------- |
--------- |
|
|
|
6.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
2 |
2 |
2 |
2 |
|
---- |
---- |
---- |
---- |
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|
|
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7.
Reserves
Share Capital - This reserve records the nominal value received for shares sold Profit and loss account - This reserve records retained earnings and accumulated losses.
8.
Transactions with directors
At the year end the company was due to pay the directors £344,000 (2023 - £283,000). This amount is included within creditors due within one year.
9.
Related party transactions
The company was under the control of the directors throughout the current and previous year. The company owns 100% of the share capital of Clydevalley Kindergarten Limited, a company registered in Scotland. During the year the company received management charges of £17,000 (2023 - £17,000) from Clydevalley Kindergarten Limited. At the year end,
Clyde Valley Investments Limited
was due to pay Clydevalley Kindergarten Limited £309,608 (2023 - £337,698). This amount is included within creditors due within one year.