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REGISTERED NUMBER: SC043028 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

CONFEDERATED SECURITIES LIMITED

CONFEDERATED SECURITIES LIMITED (REGISTERED NUMBER: SC043028)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CONFEDERATED SECURITIES LIMITED

Company Information
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: W C Logie
R D Logie



REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ



REGISTERED NUMBER: SC043028 (Scotland)



ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ



BANKERS: Bank of Scotland
Argyle Street
Glasgow
G1 3BY



SOLICITORS: Morisons
105 West George Street
Glasgow
G2 1QA

CONFEDERATED SECURITIES LIMITED (REGISTERED NUMBER: SC043028)

Balance Sheet
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 198 264
Investment property 5 690,000 690,000
690,198 690,264

CURRENT ASSETS
Debtors 6 4,686 6,955
Cash at bank 68,676 60,331
73,362 67,286
CREDITORS
Amounts falling due within one year 7 5,383 9,239
NET CURRENT ASSETS 67,979 58,047
TOTAL ASSETS LESS CURRENT
LIABILITIES

758,177

748,311

PROVISIONS FOR LIABILITIES 9,983 8,483
NET ASSETS 748,194 739,828

CAPITAL AND RESERVES
Called up share capital 349 349
Other reserve 8 589,045 589,045
Retained earnings 158,800 150,434
SHAREHOLDERS' FUNDS 748,194 739,828

The company is entitled to exemption from audit under Section 477 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 directors acknowledge their 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.

CONFEDERATED SECURITIES LIMITED (REGISTERED NUMBER: SC043028)

Balance Sheet - continued
30 APRIL 2024


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 Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:





W C Logie - Director


CONFEDERATED SECURITIES LIMITED (REGISTERED NUMBER: SC043028)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Confederated Securities Limited 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.

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.

Turnover
Turnover represents rents received from the company's investment properties which fall within the company's ordinary activities. Revenue is recognised on receipt of rents.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on a reducing balance basis
Computer equipment - 25% on a straight line basis

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value as at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value as at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


CONFEDERATED SECURITIES LIMITED (REGISTERED NUMBER: SC043028)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 22,663 6,069 28,732
DEPRECIATION
At 1 May 2023 22,399 6,069 28,468
Charge for year 66 - 66
At 30 April 2024 22,465 6,069 28,534
NET BOOK VALUE
At 30 April 2024 198 - 198
At 30 April 2023 264 - 264

5. INVESTMENT PROPERTY

Investment property was revalued by D M Hall, Chartered Surveyors, on 23rd December 2022. There has been no material change in the fair value as at 30th April 2024.

CONFEDERATED SECURITIES LIMITED (REGISTERED NUMBER: SC043028)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£   
Valuation in 1995 152,657
Valuation in 2002 41,388
Valuation in 2007 255,000
Valuation in 2016 (150,000 )
Valuation in 2022 290,000
Cost 100,955
690,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,686 6,955

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,053 698
Other creditors 3,330 8,541
5,383 9,239

8. RESERVES
Other
reserve
£   
At 1 May 2023
and 30 April 2024 589,045

9. RELATED PARTY DISCLOSURES

As at 30 April 2024 £Nil (2023 - £1,860) is owed to a company under common directorship.