Indigo (Scotland) Limited SC193859 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is property rental. Digita Accounts Production Advanced 6.30.9574.0 true SC193859 2023-04-01 2024-03-31 SC193859 2024-03-31 SC193859 core:CurrentFinancialInstruments 2024-03-31 SC193859 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC193859 core:Non-currentFinancialInstruments 2024-03-31 SC193859 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 SC193859 core:FurnitureFittingsToolsEquipment 2024-03-31 SC193859 core:LandBuildings 2024-03-31 SC193859 bus:SmallEntities 2023-04-01 2024-03-31 SC193859 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC193859 bus:FullAccounts 2023-04-01 2024-03-31 SC193859 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC193859 bus:RegisteredOffice 2023-04-01 2024-03-31 SC193859 bus:Director1 2023-04-01 2024-03-31 SC193859 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC193859 core:FurnitureFittings 2023-04-01 2024-03-31 SC193859 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 SC193859 core:LandBuildings 2023-04-01 2024-03-31 SC193859 countries:Scotland 2023-04-01 2024-03-31 SC193859 2023-03-31 SC193859 core:FurnitureFittingsToolsEquipment 2023-03-31 SC193859 core:LandBuildings 2023-03-31 SC193859 2022-04-01 2023-03-31 SC193859 2023-03-31 SC193859 core:CurrentFinancialInstruments 2023-03-31 SC193859 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 SC193859 core:Non-currentFinancialInstruments 2023-03-31 SC193859 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 SC193859 core:FurnitureFittingsToolsEquipment 2023-03-31 SC193859 core:LandBuildings 2023-03-31 iso4217:GBP xbrli:pure

Registration number: SC193859

Indigo (Scotland) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Indigo (Scotland) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Indigo (Scotland) Limited

Company Information

Director

Mr R Dunlop

Registered office

23 Burnbank Meadows
Kinross
KY13 8GE

Accountants

Ross McConnell
Chartered Accountant
3 High Street
Kinross
KY13 8AW

 

Indigo (Scotland) Limited

(Registration number: SC193859)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

814,088

813,821

Current assets

 

Debtors

5

13,257

13,246

Cash at bank and in hand

 

2,460

5,415

 

15,717

18,661

Creditors: Amounts falling due within one year

6

(32,749)

(36,830)

Net current liabilities

 

(17,032)

(18,169)

Total assets less current liabilities

 

797,056

795,652

Creditors: Amounts falling due after more than one year

6

(664,551)

(664,551)

Net assets

 

132,505

131,101

Capital and reserves

 

Called up share capital

2

2

Retained earnings

132,503

131,099

Shareholders' funds

 

132,505

131,101

 

Indigo (Scotland) Limited

(Registration number: SC193859)
Balance Sheet as at 31 March 2024

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 27 December 2024
 

.........................................
Mr R Dunlop
Director

 

Indigo (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
23 Burnbank Meadows
Kinross
KY13 8GE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Indigo (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & fittings

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Indigo (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Indigo (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible Assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

812,904

15,278

828,182

Additions

-

843

843

Disposals

-

(284)

(284)

At 31 March 2024

812,904

15,837

828,741

Depreciation

At 1 April 2023

-

14,361

14,361

Charge for the year

-

576

576

Eliminated on disposal

-

(284)

(284)

At 31 March 2024

-

14,653

14,653

Carrying amount

At 31 March 2024

812,904

1,184

814,088

At 31 March 2023

812,904

917

813,821

5

Debtors

Current

2024
£

2023
£

Prepayments

257

246

Other debtors

13,000

13,000

13,257

13,246

6

Creditors

Creditors: amounts falling due within one year

 

Indigo (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2024
£

2023
£

Due within one year

Other creditors

8,798

8,801

Director's current account

23,011

27,089

Accruals and deferred income

940

940

32,749

36,830

Other creditors represents an interest free unsecured loan, repayable on demand.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

664,551

664,551

The bank loans are secured over the land and buildings, and are payable after five years.

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

664,551

664,551