IRIS Accounts Production v24.3.0.553 SC064237 director 1.2.23 31.1.24 31.1.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC0642372023-01-31SC0642372024-01-31SC0642372023-02-012024-01-31SC0642372022-01-31SC0642372022-02-012023-01-31SC0642372023-01-31SC064237ns15:Scotland2023-02-012024-01-31SC064237ns14:PoundSterling2023-02-012024-01-31SC064237ns10:Director12023-02-012024-01-31SC064237ns10:PrivateLimitedCompanyLtd2023-02-012024-01-31SC064237ns10:SmallEntities2023-02-012024-01-31SC064237ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-31SC064237ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-31SC064237ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-31SC064237ns10:FullAccounts2023-02-012024-01-31SC064237ns10:CompanySecretary12023-02-012024-01-31SC064237ns10:RegisteredOffice2023-02-012024-01-31SC064237ns5:CurrentFinancialInstruments2024-01-31SC064237ns5:CurrentFinancialInstruments2023-01-31SC064237ns5:ShareCapital2024-01-31SC064237ns5:ShareCapital2023-01-31SC064237ns5:FurtherSpecificReserve2ComponentTotalEquity2024-01-31SC064237ns5:FurtherSpecificReserve2ComponentTotalEquity2023-01-31SC064237ns5:RetainedEarningsAccumulatedLosses2024-01-31SC064237ns5:RetainedEarningsAccumulatedLosses2023-01-31SC064237ns5:PlantMachinery2023-02-012024-01-31SC064237ns5:LandBuildings2023-01-31SC064237ns5:PlantMachinery2023-01-31SC064237ns5:LandBuildings2024-01-31SC064237ns5:PlantMachinery2024-01-31SC064237ns5:LandBuildings2023-01-31SC064237ns5:PlantMachinery2023-01-31SC064237ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-31SC064237ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-31
REGISTERED NUMBER: SC064237 (Scotland)
















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Eldon Developments Ltd.

Eldon Developments Ltd. (Registered number: SC064237)






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


Eldon Developments Ltd.

Company Information
for the Year Ended 31 January 2024







DIRECTOR: A W Lobban





SECRETARY: Mrs L C M Johnstone





REGISTERED OFFICE: c/o Gillespie & Anderson CA
147 Bath Street
Glasgow
G2 4SN





REGISTERED NUMBER: SC064237 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
147 Bath Street
Glasgow
G2 4SN

Eldon Developments Ltd. (Registered number: SC064237)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,041,834 1,041,834

CURRENT ASSETS
Debtors 5 43,724 54,627
Cash at bank 77,251 90,682
120,975 145,309
CREDITORS
Amounts falling due within one year 6 32,277 29,891
NET CURRENT ASSETS 88,698 115,418
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,130,532

1,157,252

CAPITAL AND RESERVES
Called up share capital 101 101
Other reserves 586,434 586,434
Retained earnings 543,997 570,717
SHAREHOLDERS' FUNDS 1,130,532 1,157,252

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 director acknowledges his 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 November 2024 and were signed by:





A W Lobban - Director


Eldon Developments Ltd. (Registered number: SC064237)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Eldon Developments Ltd. 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 as modified by the revaluation of certain assets.

The company has cash resources and has no requirement for external funding. The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to believe the going concern basis of accountancy appropriate in preparing the annual financial statements.

Significant judgements and estimates
The director has made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The director's estimates, assumptions and judgements that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes.

Turnover
Turnover represents revenue recognised in the financial statements. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying goods and services, and is exclusive of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

No depreciation is provided in respect of freehold investment properties in accordance with FRS 102, as these are regarded as investment properties, which are accordingly measured at fair value at the balance sheet date. Any changes in fair value measurement are recognised in profit or loss.

Financial instruments
The company has no complex financial instruments but does hold basic financial instruments of; cash at bank, debtors and creditors.

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Any bank overdraft would be shown within current liabilities.

Trade and other debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effective of discounting would be immaterial. In such cases, trade and other debtors are stated at cost less losses for bad debts.

Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other creditors are stated at cost.


Eldon Developments Ltd. (Registered number: SC064237)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Employee benefits
The total cost of employee benefits to which employees have become entitled as a result of service rendered to the entity during the reporting period are recognised and charged to the profit and loss account in the period to which they relate.

Provision for liabilities
A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 February 2023
and 31 January 2024 1,041,834 1,291 1,043,125
DEPRECIATION
At 1 February 2023
and 31 January 2024 - 1,291 1,291
NET BOOK VALUE
At 31 January 2024 1,041,834 - 1,041,834
At 31 January 2023 1,041,834 - 1,041,834

The amounts shown as land & buildings relate solely to the company's investment property portfolio.

Eldon Developments Ltd. (Registered number: SC064237)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 January 2024 is represented by:

Land and
buildings
£   
Valuation in 2005 675,519
Valuation in 2012 (89,085 )
Cost 455,400
1,041,834

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 455,400 455,400

Investment properties were valued on an open market value basis on 31 January 2024 by the director of the company .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 458 8,472
Other debtors 43,266 46,155
43,724 54,627

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,694 4,848
Other creditors 29,583 25,043
32,277 29,891

7. OTHER FINANCIAL COMMITMENTS

After the balance sheet date, but prior to the financial statements being formally approved, the company paid out dividends totalling £40,320.

8. RELATED PARTY DISCLOSURES

The director's loan account at 31 January 2024 stands at £2,340 (2023 - £1,602). Movement in the year consisted of company expenses met by the director.

9. ULTIMATE CONTROLLING PARTY

Following share transfers made in a previous year, the director considers that no individual has ultimate control of the company, due to the distribution of the issued share capital in the company between shareholders in the company.