Company Registration No. SC667070
Old Orkney Ltd
Annual Report and Unaudited Financial Statements
For the period ended 31 March 2024
OLD ORKNEY LTD
CONTENTS
Page
Officers and Professional Advisers
1
Director's Report
2
Balance Sheet
3
Notes to the Financial Statements
4 - 5
OLD ORKNEY LTD
OFFICERS AND PROFESSIONAL ADVISERS
DIRECTOR
Mr I R McClune
Mr A W Macraild
COMPANY NUMBER
SC667070
REGISTERED OFFICE
West Building Ruthvenfield Grove
Industrial Estate
Perth
Scotland
PH1 3FN
1
OLD ORKNEY LTD
DIRECTOR'S REPORT
The director presents his annual report and financial statements for the period ended 31 March 2024.
PRINCIPAL ACTIVITIES
The company was dormant throughout the period.
DIRECTORS
The directors who held office during the period and to the date of this report are:
Mr I R McClune
Mr A W Macraild
The director's report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.
Approved by the Board of Directors
and signed on behalf of the Board
Mr I R McClune
Director
Date
14th January 2025
14 January 2025
2
OLD ORKNEY LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
Note
31 March 2024
£
31 July 2023
£
CURRENT ASSETS
Cash at bank and in hand
100
100
NET CURRENT ASSETS
100
100
NET ASSETS
100
100
CAPITAL AND RESERVES
Issued share capital
2
100
100
TOTAL EQUITY
100
100
The company has not traded during the current period and therefore no profit and loss account is presented.
For the period ended 31 March 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies. The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
The Directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit or loss for the financial period in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime within Part 15 of the Companies Act 2006.
The financial statements of Old Orkney Ltd (Company Registration No.
SC667070) were approved by the Board of Directors on
14th January 2025
14 January 2025
.
Signed on behalf of the Board of Directors
Mr I R McClune
Director
3
OLD ORKNEY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
1.
ACCOUNTING POLICIES
Company Information
Old Orkney Ltd (SC667070) is a private company limited by shares and incorporated in Scotland. The registered office is West Building Ruthvenfield Grove, Industrial Estate, Perth, Scotland, PH1 3FN.
Accounting Convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime. The disclosure requirements of Section 1A of FRS 102 have been applied.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Reporting period
The current figures represent those of a shortened 8 month period. The period of account has been shortened to bring the period end in line with Still Life Limited, the ultimate parent company.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments' and Section 12 ‘Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
Profit and loss account
The company has not traded during the current or prior periods and therefore no profit and loss account is presented.
2. SHARE CAPITAL
2024
£
2023
£
Issued share capital
50 A Ordinary shares of £1 each
50
50
50 B Ordinary shares of £1 each
50
50
100
100
4
OLD ORKNEY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
3. RELATED PARTY TRANSACTIONS
The company has taken advantage of the exemptions available to those subsidiaries that are wholly owned under FRS 102. Accordingly, disclosure is not made of any related party transactions with the company's parent company or fellow wholly owned subsidiaries.
4. ULTIMATE PARENT COMPANY
The parent of the smallest and largest group for which consolidated accounts are drawn up of which the company is a member is Still Life Ltd registered at Balinshaw, Forgandenny, Perth, Scotland, PH2 9HR.
5