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REGISTERED NUMBER: SC654401 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Spectrum 2020 Ltd

Spectrum 2020 Ltd (Registered number: SC654401)






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


Spectrum 2020 Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: W J Roddie
Ms S Roddie





REGISTERED OFFICE: 120 Carstairs Street
Glasgow
G40 4JD





REGISTERED NUMBER: SC654401 (Scotland)





ACCOUNTANTS: Advantage Accounting (Scotland) Ltd
Pavilion 2
Finnieston Business Park
Minerva Way
Glasgow
G3 8AU

Spectrum 2020 Ltd (Registered number: SC654401)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,432 5,654
Investment property 5 4,942,020 5,302,574
4,964,452 5,308,228

CURRENT ASSETS
Stocks 5,295,477 3,304,199
Debtors 6 1,445,378 43,084
Cash at bank and in hand 14,057 12,454
6,754,912 3,359,737
CREDITORS
Amounts falling due within one year 7 10,717,266 7,679,282
NET CURRENT LIABILITIES (3,962,354 ) (4,319,545 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,002,098

988,683

PROVISIONS FOR LIABILITIES 252,481 -
NET ASSETS 749,617 988,683

CAPITAL AND RESERVES
Called up share capital 1 1
Other reserves (320,850 ) -
Fair value reserve 9 1,009,925 869,929
Retained earnings 60,541 118,753
SHAREHOLDERS' FUNDS 749,617 988,683

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.

Spectrum 2020 Ltd (Registered number: SC654401)

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 J Roddie - Director


Spectrum 2020 Ltd (Registered number: SC654401)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Spectrum 2020 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Spectrum 2020 Ltd (Registered number: SC654401)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 10,388
Additions 24,219
At 30 April 2024 34,607
DEPRECIATION
At 1 May 2023 4,734
Charge for year 7,441
At 30 April 2024 12,175
NET BOOK VALUE
At 30 April 2024 22,432
At 30 April 2023 5,654

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 5,302,574
Additions 244,756
Disposals (745,306 )
Revaluations 139,996
At 30 April 2024 4,942,020
NET BOOK VALUE
At 30 April 2024 4,942,020
At 30 April 2023 5,302,574

The 2024 valuations were made by the director, on an open market value for existing use basis.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 38,405 40,084
Amounts owed by group undertakings 60,735 -
Amounts owed by associates 788,713 3,000
Other debtors 557,525 -
1,445,378 43,084

Spectrum 2020 Ltd (Registered number: SC654401)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 85,669 122,578
Amounts owed to group undertakings 10,446,163 7,469,636
Amounts owed to associates 15,027 26,496
Taxation and social security 123,192 17,596
Other creditors 47,215 42,976
10,717,266 7,679,282

8. SECURED DEBTS

Clyde Gateway Developments Limited holds a charge over the property held at Broad Street.

9. RESERVES
Fair
value
reserve
£   
At 1 May 2023 869,929
Movement 139,996

At 30 April 2024 1,009,925

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The above amounts are unsecured and interest free.

11. ULTIMATE CONTROLLING PARTY

The parent company is Venture Holdings Limited whose registered office is 120 Carstairs Street, Glasgow, G40 4JD.

The company was ultimately under the control of Mr W Roddie throughout the current and previous year.