Silverfin false false 30/06/2024 01/07/2023 30/06/2024 K B Stephen 19/06/1981 O J Stephen 16/05/2016 20 February 2025 The principle activity of the Company during the financial year was property development and investments. SC075304 2024-06-30 SC075304 bus:Director1 2024-06-30 SC075304 bus:Director2 2024-06-30 SC075304 2023-06-30 SC075304 core:CurrentFinancialInstruments 2024-06-30 SC075304 core:CurrentFinancialInstruments 2023-06-30 SC075304 core:ShareCapital 2024-06-30 SC075304 core:ShareCapital 2023-06-30 SC075304 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC075304 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC075304 core:ImmediateParent core:CurrentFinancialInstruments 2024-06-30 SC075304 core:ImmediateParent core:CurrentFinancialInstruments 2023-06-30 SC075304 bus:OrdinaryShareClass1 2024-06-30 SC075304 2023-07-01 2024-06-30 SC075304 bus:FilletedAccounts 2023-07-01 2024-06-30 SC075304 bus:SmallEntities 2023-07-01 2024-06-30 SC075304 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC075304 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC075304 bus:Director1 2023-07-01 2024-06-30 SC075304 bus:Director2 2023-07-01 2024-06-30 SC075304 2022-07-01 2023-06-30 SC075304 core:CurrentFinancialInstruments 2023-07-01 2024-06-30 SC075304 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 SC075304 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC075304 (Scotland)

COLONNADE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

COLONNADE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

COLONNADE PROPERTIES LIMITED

BALANCE SHEET

AS AT 30 JUNE 2024
COLONNADE PROPERTIES LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 569,775 569,775
569,775 569,775
Current assets
Debtors 4 849,384 2,537
Cash at bank and in hand 3,158 762,421
852,542 764,958
Creditors: amounts falling due within one year 5 ( 122,979) ( 56,849)
Net current assets 729,563 708,109
Total assets less current liabilities 1,299,338 1,277,884
Net assets 1,299,338 1,277,884
Capital and reserves
Called-up share capital 6 1,009,706 1,009,706
Profit and loss account 289,632 268,178
Total shareholder's funds 1,299,338 1,277,884

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Colonnade Properties Limited (registered number: SC075304) were approved and authorised for issue by the Board of Directors on 20 February 2025. They were signed on its behalf by:

O J Stephen
Director
COLONNADE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
COLONNADE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 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

Colonnade Properties 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 7-11 Melville Street, Edinburgh, EH3 7PE, United Kingdom.

The financial statements have been prepared under the historical cost convention, and 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 goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration is recognised on conclusion of missives.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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.

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. No impairments were noted during the year.

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 directors, 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.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including unpaid directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 July 2023 569,775
As at 30 June 2024 569,775

Valuation

The directors consider the total fair value of the properties to be equivalent to cost at 30 June 2024.

4. Debtors

2024 2023
£ £
Trade debtors 54,797 0
Amounts owed by Parent undertakings 723,614 0
Other debtors 70,973 2,537
849,384 2,537

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 11,514 0
Amounts owed to Group undertakings 80,429 5,106
Amounts owed to Parent undertakings 0 ( 78,392)
Other taxation and social security 10,372 0
Other creditors 20,664 130,135
122,979 56,849

A floating charge has been granted to K B Stephen, the Director, over all the property or undertakings of the Company.

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,009,706 Ordinary shares of £ 1.00 each 1,009,706 1,009,706

7. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed by key management personnel 70,002 (1,288)

During the year, advances of £71,000 were made against an opening credit position of £1,288. Interest of £290 has been applied to the loan, bringing the closing balance as at 30 June 2024 to £70,002. The loan is unsecured with no fixed repayments terms and interest is charged at a rate of 2.25%.