Silverfin false false 31/10/2024 01/11/2023 31/10/2024 Mr A Burt 28/10/2021 Ms A Nisbet 28/10/2021 21 April 2025 The principal activity of the company during the financial period was property rental. SC713468 2024-10-31 SC713468 bus:Director1 2024-10-31 SC713468 bus:Director2 2024-10-31 SC713468 2023-10-31 SC713468 core:CurrentFinancialInstruments 2024-10-31 SC713468 core:CurrentFinancialInstruments 2023-10-31 SC713468 core:ShareCapital 2024-10-31 SC713468 core:ShareCapital 2023-10-31 SC713468 core:RetainedEarningsAccumulatedLosses 2024-10-31 SC713468 core:RetainedEarningsAccumulatedLosses 2023-10-31 SC713468 bus:OrdinaryShareClass1 2024-10-31 SC713468 2023-11-01 2024-10-31 SC713468 bus:FilletedAccounts 2023-11-01 2024-10-31 SC713468 bus:SmallEntities 2023-11-01 2024-10-31 SC713468 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 SC713468 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC713468 bus:Director1 2023-11-01 2024-10-31 SC713468 bus:Director2 2023-11-01 2024-10-31 SC713468 2022-11-01 2023-10-31 SC713468 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 SC713468 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC713468 (Scotland)

TUATHAIR LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH THE REGISTRAR

TUATHAIR LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024

Contents

TUATHAIR LTD

BALANCE SHEET

AS AT 31 OCTOBER 2024
TUATHAIR LTD

BALANCE SHEET (continued)

AS AT 31 OCTOBER 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 184,201 182,856
184,201 182,856
Current assets
Debtors 4 934 1,459
Cash at bank and in hand 8,368 11,573
9,302 13,032
Creditors: amounts falling due within one year 5 ( 202,407) ( 204,207)
Net current liabilities (193,105) (191,175)
Total assets less current liabilities (8,904) (8,319)
Net liabilities ( 8,904) ( 8,319)
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account ( 8,906 ) ( 8,321 )
Total shareholders' deficit ( 8,904) ( 8,319)

For the financial year ending 31 October 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 Tuathair Ltd (registered number: SC713468) were approved and authorised for issue by the Board of Directors on 21 April 2025. They were signed on its behalf by:

Mr A Burt
Director
TUATHAIR LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
TUATHAIR LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 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

Tuathair Ltd (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 4/2 996 Pollokshaws Road, Glasgow, G41 2HA, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment property 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £8,904. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover from rental receipts is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

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.

Tangible fixed assets

Tangible fixed assets are stated at valuation.

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.

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.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are initially measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors are classified as debt, are recognised at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

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

3. Investment property

Investment property
£
Valuation
As at 01 November 2023 182,856
Additions 1,345
As at 31 October 2024 184,201

Investment property comprises of 1 commercial property. The fair value of the investment property has been arrived at on the basis of valuations carried out at 31 October 2024 by the directors of the business. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4. Debtors

2024 2023
£ £
Trade debtors 500 0
Corporation tax 182 1,222
Other debtors 252 237
934 1,459

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 1,920
Other creditors 202,407 202,287
202,407 204,207

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

7. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to Key management personnel 189,978 189,978

This loan is interest free and has no fixed repayment terms.