Scag 51 Project Solutions Limited SC504410 true 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is has been providing project management for the financial services sector Digita Accounts Production Advanced 6.30.9574.0 true Steven Charles Grant SC504410 2023-06-01 2024-05-31 SC504410 2024-05-31 SC504410 bus:OrdinaryShareClass1 2024-05-31 SC504410 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC504410 core:ShareCapital 2024-05-31 SC504410 core:CurrentFinancialInstruments 2024-05-31 SC504410 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 SC504410 core:FurnitureFittingsToolsEquipment 2024-05-31 SC504410 bus:FRS102 2023-06-01 2024-05-31 SC504410 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SC504410 bus:FullAccounts 2023-06-01 2024-05-31 SC504410 bus:RegisteredOffice 2023-06-01 2024-05-31 SC504410 bus:Director1 2023-06-01 2024-05-31 SC504410 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 SC504410 bus:EntityNoLongerTradingButTradedInPast 2023-06-01 2024-05-31 SC504410 bus:Consolidated 2023-06-01 2024-05-31 SC504410 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC504410 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 SC504410 countries:Scotland 2023-06-01 2024-05-31 SC504410 2023-05-31 SC504410 core:FurnitureFittingsToolsEquipment 2023-05-31 SC504410 2023-05-31 SC504410 bus:OrdinaryShareClass1 2023-05-31 SC504410 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC504410 core:ShareCapital 2023-05-31 SC504410 core:CurrentFinancialInstruments 2023-05-31 SC504410 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 SC504410 core:FurnitureFittingsToolsEquipment 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC504410

Scag 51 Project Solutions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Scag 51 Project Solutions Limited

Profit and Loss Account for the Year Ended 31 May 2024

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

Scag 51 Project Solutions Limited

(Registration number: SC504410)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

190

190

Current assets

 

Cash at bank and in hand

 

4,620

8,264

Creditors: Amounts falling due within one year

5

(2,530)

(6,674)

Net current assets

 

2,090

1,590

Net assets

 

2,280

1,780

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

2,180

1,680

Shareholders' funds

 

2,280

1,780

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 6 February 2025
 

.........................................
Steven Charles Grant
Director

 

Scag 51 Project Solutions Limited

Notes to the Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
38 Robertson Avenue
Edinburgh
EH11 1PS

These financial statements were authorised for issue by the director on 6 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings, equipment

none during dorrmant period

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

Scag 51 Project Solutions Limited

Notes to the Financial Statements for the Year Ended 31 May 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Scag 51 Project Solutions Limited

Notes to the Financial Statements for the Year Ended 31 May 2024

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

1,000

1,000

At 31 May 2024

1,000

1,000

Depreciation

At 1 June 2023

810

810

At 31 May 2024

810

810

Carrying amount

At 31 May 2024

190

190

At 31 May 2023

190

190

4

Cash and cash equivalents

2024
£

2023
£

Cash at bank

4,620

8,264

5

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

3,355

7,169

Other payables

 

(2,265)

(1,935)

Accruals

 

1,440

1,440

 

2,530

6,674

 

Scag 51 Project Solutions Limited

Notes to the Financial Statements for the Year Ended 31 May 2024

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,215

9,410

Director current account

(2,860)

(2,241)

3,355

7,169