REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
ST. VINCENT STREET (435) LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
VAT |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Amounts owed to group undertakings |
Tax |
Accrued expenses |
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. |