Company registration number SC348384 (Scotland)
MAIDENCRAIG VENTURES (NO.2) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
MAIDENCRAIG VENTURES (NO.2) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MAIDENCRAIG VENTURES (NO.2) LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
2025
2023
Notes
£
£
£
£
Fixed assets
Investments
3
185,703
185,703
Capital and reserves
Called up share capital
5
185,803
185,803
Share premium account
94,000
94,000
Profit and loss reserves
(94,100)
(94,100)
Total equity
185,703
185,703

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 28 February 2025 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 26 March 2025 and are signed on its behalf by:
R M Petrie
Director
Company Registration No. SC348384
MAIDENCRAIG VENTURES (NO.2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information

Maidencraig Ventures (No.2) Limited is a private company limited by shares incorporated in Scotland. The registered office is Maidencraig House, 192 Queensferry Road, Edinburgh, EH4 2BN.

1.1
Reporting period

The company changed its accounting reference date from 31 December 2024 to 28 February 2025 in line with other group companies. Comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Maidencraig Ventures (No.2) Limited is a wholly owned undertaking of Maidencraig Ventures Limited, a company registered in Scotland with their registered office being Maidencraig House, 192 Queensferry Road, Edinburgh, EH4 2BN.

1.3
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. However, the future strategy of the company is under review and accordingly, the directors have decided to prepare these financial statements on a break up basis.

1.4
Profit and loss account

The company has not traded during the period or the preceding financial period. During this time the company received no income and incurred no expenditure and therefore no profit and loss account is presented in these financial statements.

1.5
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

MAIDENCRAIG VENTURES (NO.2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other periods and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

MAIDENCRAIG VENTURES (NO.2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
2023
Number
Number
Total
-
0
-
0
3
Fixed asset investments
2025
2023
£
£
Investments
185,703
185,703
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 January 2024 & 28 February 2025
185,703
Carrying amount
At 28 February 2025
185,703
At 31 December 2023
185,703
4
Subsidiaries

Details of the company's subsidiaries at 28 February 2025 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
Halecrest Investments (No.2) Limited
1
Ordinary
100.00

Registered office addresses:

1
Maidencraig House, 192 Queensferry Road, Edinburgh, EH4 2BN
5
Called up share capital
2025
2023
2025
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
185,803
185,803
185,803
185,803
MAIDENCRAIG VENTURES (NO.2) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 5 -
6
Related party transactions

The directors are of the opinion that all related party transactions are concluded under normal market conditions and on an arm's length basis and therefore do not need to be disclosed under FRS102 section 1A appendix C.

2025-02-282024-01-01falsefalsetrue26 March 2025CCH SoftwareCCH Accounts Production 2024.301No description of principal activitySir Tom Farmer CVO CBE KCSG DLRodM A McAdamSC3483842024-01-012025-02-28SC3483842025-02-28SC3483842023-12-31SC348384core:ShareCapital2025-02-28SC348384core:ShareCapital2023-12-31SC348384core:SharePremium2025-02-28SC348384core:SharePremium2023-12-31SC348384core:RetainedEarningsAccumulatedLosses2025-02-28SC348384core:RetainedEarningsAccumulatedLosses2023-12-31SC348384bus:Director22024-01-012025-02-28SC3483842023-01-012023-12-31SC34838412024-01-012025-02-28SC34838422024-01-012025-02-28SC348384bus:EntityNoLongerTradingButTradedInPast2024-01-012025-02-28SC348384bus:PrivateLimitedCompanyLtd2024-01-012025-02-28SC348384bus:SmallCompaniesRegimeForAccounts2024-01-012025-02-28SC348384bus:FRS1022024-01-012025-02-28SC348384bus:AuditExemptWithAccountantsReport2024-01-012025-02-28SC348384bus:Director12024-01-012025-02-28SC348384bus:CompanySecretary12024-01-012025-02-28SC348384bus:FullAccounts2024-01-012025-02-28xbrli:purexbrli:sharesiso4217:GBP