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REGISTERED NUMBER: SC486994 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

CONTACTS & SPECS HOLDINGS LTD

CONTACTS & SPECS HOLDINGS LTD (REGISTERED NUMBER: SC486994)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

CONTACTS & SPECS HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Shazia Amir Yousaf





REGISTERED OFFICE: 4d Auchingramont Road
Hamilton
ML3 6JT





REGISTERED NUMBER: SC486994 (Scotland)

CONTACTS & SPECS HOLDINGS LTD (REGISTERED NUMBER: SC486994)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 300,000 300,000

CURRENT ASSETS
Debtors 5 1 1

CREDITORS
Amounts falling due within one year 6 300,000 300,000
NET CURRENT LIABILITIES (299,999 ) (299,999 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1

1

CAPITAL AND RESERVES
Called up share capital 1 1
SHAREHOLDERS' FUNDS 1 1

The company is entitled to exemption from audit under Section 480 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 28 January 2025 and were signed by:





Shazia Amir Yousaf - Director


CONTACTS & SPECS HOLDINGS LTD (REGISTERED NUMBER: SC486994)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Contacts & Specs Holdings 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.

The company was dormant throughout the current year and previous year.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Basic financial instruments are recognised as follows:

(i) Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method less any impairment.

(ii) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the statement of financial position.

(iii) Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Investments
Investments in shares are included at fair value.

3. AVERAGE NUMBER OF EMPLOYEES

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

CONTACTS & SPECS HOLDINGS LTD (REGISTERED NUMBER: SC486994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 300,000
NET BOOK VALUE
At 30 April 2024 300,000
At 30 April 2023 300,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Director's loan 1 1

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other creditors 300,000 300,000

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The above loan, which is due from the director is unsecured, interest free and has no fixed repayment terms.

8. RELATED PARTY DISCLOSURES

Included in the company's creditors at the statement of financial position date is £300,000 due to its subsidiary company.