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REGISTERED NUMBER: SC293680 (Scotland)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

ST. VINCENT STREET (435) LIMITED

ST. VINCENT STREET (435) LIMITED (REGISTERED NUMBER: SC293680)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ST. VINCENT STREET (435) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: A G Macdonald
S H Rough





SECRETARY: S H Rough





REGISTERED OFFICE: 204 West George Street
Glasgow
G2 2PQ





REGISTERED NUMBER: SC293680 (Scotland)





ACCOUNTANTS: McLay, McAlister & McGibbon (Ayr) Ltd
Arran House
15D Skye Road
Prestwick
Ayrshire
KA9 2TA

ST. VINCENT STREET (435) LIMITED (REGISTERED NUMBER: SC293680)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £   
CURRENT ASSETS
Stocks - 1,035,854
Debtors 4 831,353 56,353
Cash at bank 4,736 7,404
836,089 1,099,611
CREDITORS
Amounts falling due within one year 5 5,046,720 5,702,594
NET CURRENT LIABILITIES (4,210,631 ) (4,602,983 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,210,631

)

(4,602,983

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (4,210,731 ) (4,603,083 )
SHAREHOLDERS' FUNDS (4,210,631 ) (4,602,983 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





S H Rough - Director


ST. VINCENT STREET (435) LIMITED (REGISTERED NUMBER: SC293680)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

St. Vincent Street (435) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The company is a member of a group of companies which finances its activities with the support of the directors.

After making enquiries the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates
Key sources of estimation uncertainty

The company make judgements, estimates and assumptions about the carrying amounts of assets and liabilities based on historical experience and other relevant factors and are reviewed on an ongoing basis. Actual outcomes may differ from these estimates. The estimates that have the most significant effect on the amounts recognised in the financial statements are as follows:

Valuation of Work in Progress

Development work in progress is stated at the lower of cost and net realisable value. Net realisable value is based on estimated selling price less the estimated costs of completion and disposal assuming where appropriate that the site will be fully developed and sold in the ordinary course of business. Whilst there is a degree of uncertainty in these estimates, reviews to monitor are carried out regularly.

Basic financial instruments
Trade and other debtors/creditors are recognised initially at transaction price. Subsequent to initial recognition they are measured at amortised cost using the effective interest method. If the arrangement constitutes a financing transaction, where payment is deferred beyond normal business terms, it is measured at present value of future payments discounted at an appropriate market rate of interest.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks
Stocks are valued at the lower of cost and net realisable value. Work in progress consists of all land and building project costs on property development held for eventual resale. Net realisable value is based on estimated selling price less the estimated costs of completion and disposal assuming where appropriate that sites will be fully developed and sold in the ordinary course of business.

ST. VINCENT STREET (435) LIMITED (REGISTERED NUMBER: SC293680)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised using the balance sheet liability method, in respect of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes with certain limited exceptions.

Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the asset can be utilised.

Deferred tax is calculated on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. The deferred tax balance is not discounted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 780,000 -
Amounts owed by group undertakings 47,465 47,465
Other debtors - 5,000
VAT 3,888 3,888
831,353 56,353

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Amounts owed to group undertakings 4,929,651 5,529,992
Tax 105,642 -
Accrued expenses 11,427 172,602
5,046,720 5,702,594

6. ULTIMATE CONTROLLING PARTY

The directors consider DDev Holdings Limited to be the ultimate holding company. The company's registered address is 204 West George Street, Glasgow.

The director Alan G. Macdonald held the majority of the issued ordinary share capital of this company throughout the year.