Silverfin false false 31/05/2024 01/06/2023 31/05/2024 Dr Neil Andrew Stewart 18/05/2012 28 January 2025 The principal activity of the Company during the financial year was that of furnished holiday letting and property rental. SC424440 2024-05-31 SC424440 bus:Director1 2024-05-31 SC424440 2023-05-31 SC424440 core:CurrentFinancialInstruments 2024-05-31 SC424440 core:CurrentFinancialInstruments 2023-05-31 SC424440 core:Non-currentFinancialInstruments 2024-05-31 SC424440 core:Non-currentFinancialInstruments 2023-05-31 SC424440 core:ShareCapital 2024-05-31 SC424440 core:ShareCapital 2023-05-31 SC424440 core:RevaluationReserve 2024-05-31 SC424440 core:RevaluationReserve 2023-05-31 SC424440 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC424440 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC424440 core:PlantMachinery 2023-05-31 SC424440 core:FurnitureFittings 2023-05-31 SC424440 core:PlantMachinery 2024-05-31 SC424440 core:FurnitureFittings 2024-05-31 SC424440 2022-05-31 SC424440 bus:OrdinaryShareClass1 2024-05-31 SC424440 bus:OrdinaryShareClass2 2024-05-31 SC424440 bus:OrdinaryShareClass3 2024-05-31 SC424440 bus:OrdinaryShareClass4 2024-05-31 SC424440 core:KeyManagementPersonnel 2024-05-31 SC424440 core:KeyManagementPersonnel 2023-05-31 SC424440 2023-06-01 2024-05-31 SC424440 bus:FilletedAccounts 2023-06-01 2024-05-31 SC424440 bus:SmallEntities 2023-06-01 2024-05-31 SC424440 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 SC424440 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC424440 bus:Director1 2023-06-01 2024-05-31 SC424440 core:PlantMachinery core:TopRangeValue 2023-06-01 2024-05-31 SC424440 core:FurnitureFittings 2023-06-01 2024-05-31 SC424440 2022-06-01 2023-05-31 SC424440 core:PlantMachinery 2023-06-01 2024-05-31 SC424440 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 SC424440 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 SC424440 bus:OrdinaryShareClass2 2023-06-01 2024-05-31 SC424440 bus:OrdinaryShareClass2 2022-06-01 2023-05-31 SC424440 bus:OrdinaryShareClass3 2023-06-01 2024-05-31 SC424440 bus:OrdinaryShareClass3 2022-06-01 2023-05-31 SC424440 bus:OrdinaryShareClass4 2023-06-01 2024-05-31 SC424440 bus:OrdinaryShareClass4 2022-06-01 2023-05-31 SC424440 core:KeyManagementPersonnel 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC424440 (Scotland)

NHP (SCOTLAND) LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH THE REGISTRAR

NHP (SCOTLAND) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024

Contents

NHP (SCOTLAND) LIMITED

BALANCE SHEET

AS AT 31 MAY 2024
NHP (SCOTLAND) LIMITED

BALANCE SHEET (continued)

AS AT 31 MAY 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 0 6,975
Investment property 4 790,000 790,000
790,000 796,975
Current assets
Debtors 5 1,513 2,446
Cash at bank and in hand 6 78,478 67,490
79,991 69,936
Creditors: amounts falling due within one year 7 ( 36,391) ( 33,173)
Net current assets 43,600 36,763
Total assets less current liabilities 833,600 833,738
Creditors: amounts falling due after more than one year 8 ( 667,317) ( 690,837)
Provision for liabilities 9, 10 ( 17,275) ( 19,019)
Net assets 149,008 123,882
Capital and reserves
Called-up share capital 11 100 100
Revaluation reserve 101,688 101,688
Profit and loss account 47,220 22,094
Total shareholders' funds 149,008 123,882

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of NHP (Scotland) Limited (registered number: SC424440) were approved and authorised for issue by the Director on 28 January 2025. They were signed on its behalf by:

Dr Neil Andrew Stewart
Director
NHP (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
NHP (SCOTLAND) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

NHP (Scotland) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 1 Yarrow Place, Perth, PH1 1SX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Turnover representing rental income is recognised on a straight line basis over the term of the lease.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 10 years straight line
Fixtures and fittings 50 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases


The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 01 June 2023 9,000 1,266 10,266
At 31 May 2024 9,000 1,266 10,266
Accumulated depreciation
At 01 June 2023 2,025 1,266 3,291
Charge for the financial year 6,975 0 6,975
At 31 May 2024 9,000 1,266 10,266
Net book value
At 31 May 2024 0 0 0
At 31 May 2023 6,975 0 6,975

4. Investment property

Investment property
£
Valuation
As at 01 June 2023 790,000
As at 31 May 2024 790,000

The fair value of investment property has been arrived at on the basis of a valuation carried out by the director on 31 May 2024. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5. Debtors

2024 2023
£ £
Trade debtors 1,015 1,948
Other debtors 498 498
1,513 2,446

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 78,478 67,490

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 2,430 0
Corporation tax 7,121 3,202
Other creditors 26,840 29,971
36,391 33,173

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 667,317 690,837

9. Provision for liabilities

2024 2023
£ £
Deferred tax 17,275 19,019

10. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 19,019) ( 19,244)
Credited to the Profit and Loss Account 1,744 225
At the end of financial year ( 17,275) ( 19,019)

11. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
30 A Ordinary shares of £ 1.00 each 30 30
30 B Ordinary shares of £ 1.00 each 30 30
20 C Ordinary shares of £ 1.00 each 20 20
20 D Ordinary shares of £ 1.00 each 20 20
100 100

12. Related party transactions

Transactions with the entity’s director (or members of its governing body)

Amounts owed to director

2024 2023
£ £
Director's current account 691,317 714,837

The loan is unsecured, interest free and there are no fixed terms of repayment. No repayment will be sought of the loan balance totalling £667,317 within 12 months of the Balance Sheet date.