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Registration number: SC603957

St Colmes Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024

 

St Colmes Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

St Colmes Limited

(Registration number: SC603957)
Statement of Financial Position as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1,583,000

1,520,000

Current assets

 

Debtors

5

66,463

2,516

Cash at bank and in hand

 

2,004

2,004

 

68,467

4,520

Creditors: Amounts falling due within one year

6

(3,556)

(2,516)

Net current assets

 

64,911

2,004

Total assets less current liabilities

 

1,647,911

1,522,004

Provisions for liabilities

(236,077)

(224,107)

Net assets

 

1,411,834

1,297,897

Capital and reserves

 

Called up share capital

2,004

2,004

Revaluation reserve

1,242,509

1,179,509

Other reserves

340,491

340,491

Retained earnings

7

(173,170)

(224,107)

Shareholders' funds

 

1,411,834

1,297,897

For the financial year ending 31 July 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 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 28 April 2025
 

 

St Colmes Limited

(Registration number: SC603957)
Statement of Financial Position as at 31 July 2024

.........................................
Mr Adam Donald Hutcheson
Director

 

St Colmes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
29 Commercial Street
Dundee
Tayside
DD1 3DG
Scotland

The principal place of business is:
496 Perth Road
Dundee
DD2 1LS
Scotland

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

St Colmes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 0 (2023 - 0).

4

Investments

2024
£

2023
£

Investments in subsidiaries

1,583,000

1,520,000

 

St Colmes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Subsidiaries

£

Cost or valuation

At 1 August 2023

1,520,000

Revaluation

63,000

At 31 July 2024

1,583,000

Carrying amount

At 31 July 2024

1,583,000

At 31 July 2023

1,520,000

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

66,463

2,516

   

66,463

2,516

 

St Colmes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

34

13

Amounts owed to Group undertakings and undertakings in which the Company has a participating interest

1,410

450

Accruals and deferred income

 

960

900

Other creditors

 

1,152

1,153

 

3,556

2,516

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

63,000

63,000

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

201,000

201,000

Retained earnings

2024

2023

£

£

Profit and loss account - distributable reserves

36,687

(26,220)

Deferred tax on revaluation of investments - undistributable reserves

(209,857)

(197,887)

(173,170)

(224,107)

 

St Colmes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £557.15 (2023 - £13.069) per each Ordinary

21,419

20,270