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No description of principal activity
2023-04-01
Sage Accounts Production Advanced 2023 - FRS102_2023
2,012,659
443,133
409,573
168,951
2,215,170
2,215,170
2,012,659
xbrli:pure
xbrli:shares
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SC715750
2023-04-01
2024-03-31
SC715750
2024-03-31
SC715750
2023-03-31
SC715750
2021-11-22
2023-03-31
SC715750
2023-03-31
SC715750
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SC715750
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SC715750
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SC715750
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SC715750
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SC715750
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SC715750
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2023-03-31
SC715750
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2024-03-31
SC715750
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2023-03-31
SC715750
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2024-03-31
SC715750
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2023-03-31
SC715750
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2023-03-31
SC715750
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SC715750
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SC715750
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2024-03-31
SC715750
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SC715750
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SC715750
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SC715750
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COMPANY REGISTRATION NUMBER:
SC715750
Filleted Unaudited Financial Statements |
|
Year ended 31 March 2024
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
4 |
|
|
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
Com Holdings Limited |
|
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Com Holdings Limited for the year ended 31 March 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Com Holdings Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Com Holdings Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Com Holdings Limited and its director for our work or for this report.
It is your duty to ensure that Com Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Com Holdings Limited. You consider that Com Holdings Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Com Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY
Chartered Accountants
216 West George Street
Glasgow
G2 2PQ
12 March 2025
Statement of Financial Position |
|
31 March 2024
Fixed assets
Investments |
4 |
2,215,170 |
2,012,659 |
|
|
|
|
Current assets
Debtors |
5 |
2,845 |
– |
Cash at bank and in hand |
43,449 |
59,602 |
|
-------- |
-------- |
|
46,294 |
59,602 |
|
|
|
|
Creditors: amounts falling due within one year |
6 |
2,100 |
2,100 |
|
-------- |
-------- |
Net current assets |
44,194 |
57,502 |
|
------------ |
------------ |
Total assets less current liabilities |
2,259,364 |
2,070,161 |
|
|
|
|
Provisions |
51,306 |
11,987 |
|
------------ |
------------ |
Net assets |
2,208,058 |
2,058,174 |
|
------------ |
------------ |
|
|
|
Capital and reserves
Called up share capital |
4 |
4 |
Revaluation reserve |
186,307 |
56,115 |
Profit and loss account |
2,021,747 |
2,002,055 |
|
------------ |
------------ |
Shareholders funds |
2,208,058 |
2,058,174 |
|
------------ |
------------ |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
31 March 2024
These financial statements were approved by the
board of directors
and authorised for issue on
12 March 2025
, and are signed on behalf of the board by:
Mr D B Beveridge |
|
Director |
|
|
|
Company registration number:
SC715750
Notes to the Financial Statements |
|
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 4/1 The Standard Building, 94 Hope Street, C/O Macdonald Henderson, Glasgow, G2 2PQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss, with the excception of Investment Bonds assessed under Loan Relationship Rules, which are stated at cost.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Investments
|
Other investments other than loans |
|
£ |
Cost |
|
At 1 April 2023 |
2,012,659 |
Additions |
443,133 |
Disposals |
(
409,573) |
Revaluations |
168,951 |
|
------------ |
At 31 March 2024 |
2,215,170 |
|
------------ |
Impairment |
|
At 1 April 2023 and 31 March 2024 |
– |
|
------------ |
|
|
Carrying amount |
|
At 31 March 2024 |
2,215,170 |
|
------------ |
At 31 March 2023 |
2,012,659 |
|
------------ |
|
|
The company's investments are held in a Brewin Dolphin managed portfolio.
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Other debtors |
2,845 |
– |
|
------- |
---- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Other creditors |
2,100 |
2,100 |
|
------- |
------- |
|
|
|