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REGISTERED NUMBER: SC454615 (Scotland)

















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

The Northumberland Street Mews Company
Ltd

The Northumberland Street Mews Company
Ltd (Registered number: SC454615)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


The Northumberland Street Mews Company
Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: D M Petrie
G M Rawlinson





REGISTERED OFFICE: 14 Rutland Square
Edinburgh
Lothians
EH1 2BD





REGISTERED NUMBER: SC454615 (Scotland)





ACCOUNTANTS: Gibson McKerrell Burrows Limited
28 Rutland Square
Edinburgh
EH1 2BW

The Northumberland Street Mews Company
Ltd (Registered number: SC454615)

Statement of Financial Position
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 11,677 15,571
Investments 5 43 45,460
11,720 61,031

CURRENT ASSETS
Work in progress 19,647 20,009
Debtors 6 1,145,210 1,106,966
Cash at bank and in hand 95,644 117,396
1,260,501 1,244,371
CREDITORS
Amounts falling due within one year 7 256,327 262,761
NET CURRENT ASSETS 1,004,174 981,610
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,015,894

1,042,641

CREDITORS
Amounts falling due after more than one
year

8

(9,244

)

(19,253

)

PROVISIONS FOR LIABILITIES 9 (2,824 ) (3,893 )
NET ASSETS 1,003,826 1,019,495

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,003,824 1,019,493
1,003,826 1,019,495

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The Northumberland Street Mews Company
Ltd (Registered number: SC454615)

Statement of Financial Position - continued
31 July 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:





D M Petrie - Director


The Northumberland Street Mews Company
Ltd (Registered number: SC454615)

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

1. STATUTORY INFORMATION

The Northumberland Street Mews Company Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is attributable to the company's principal activity of the provision of property development consultancy services.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. Cost includes the original purchase price and costs directly attributable to bringing the asset to its present location and into its present condition. After initial recognition, the assets are measured at cost less any accumulated depreciation and any accumulated impairment losses. Freehold properties are subsequently measured at their revalued amount, being the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is provided by equal instalments at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles - 25% reducing balance
Computer equipment - 25% reducing balance

Depreciation and impairment losses are charged to the Statement of Comprehensive Income within administrative expenses.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Work in progress
Work in progress is recognised when the company obtains the right to consideration and is valued at fair value based on the stage of completion of the contract.

The Northumberland Street Mews Company
Ltd (Registered number: SC454615)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and payables, loans from banks and other third parties.

At the end of each reporting period, financial assets that are measured at cost are assessed for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the . Income Statement. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows arising from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party.

Financial liabilities are measured at amortised cost less any accumulated impairment losses. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Fixed asset investments
Fixed asset investments in unlisted companies are included in the company's statement of financial position at cost less any amounts written off for permanent diminution in value.

At the end of each reporting period, investments are assessed for objective evidence of impairment. If objective evidence is found, an impairment loss is recognised in the Income Statement.

On disposal of an investment, the difference between the disposal proceeds and the carrying amount of the investment is recognised in the Income Statement.

Fixed asset investments in limited liability partnerships are valued at fair value based on its capital interest in the partnership.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

The Northumberland Street Mews Company
Ltd (Registered number: SC454615)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the Statement of Financial Position as substantially all of the risks and rewards incidental to ownership have been transferred from the leasing company.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the Statement of Comprehensive Income over the relevant period. The capital element of the future payments is treated as a liability.

Rentals under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023
and 31 July 2024 63,989
DEPRECIATION
At 1 August 2023 48,418
Charge for year 3,894
At 31 July 2024 52,312
NET BOOK VALUE
At 31 July 2024 11,677
At 31 July 2023 15,571

5. FIXED ASSET INVESTMENTS
Interest
in joint Other
venture investments Totals
£    £    £   
COST
At 1 August 2023 45,407 53 45,460
Disposals (45,407 ) (10 ) (45,417 )
At 31 July 2024 - 43 43
NET BOOK VALUE
At 31 July 2024 - 43 43
At 31 July 2023 45,407 53 45,460

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,145,210 1,106,966

The Northumberland Street Mews Company
Ltd (Registered number: SC454615)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,754 9,754
Trade creditors 5,571 1,746
Taxation and social security 78,102 94,803
Other creditors 162,900 156,458
256,327 262,761

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 9,244 19,253

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,824 3,893

Deferred
tax
£   
Balance at 1 August 2023 3,893
Utilised during year (1,069 )
Balance at 31 July 2024 2,824

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £140,000 (2023 - £171,000) were paid to the directors .

Included in other debtors is the following loans due to/(from) limited liability partnerships and companies that the company has an interest in:-

2024 2023
£    £   
Ettrick Road LLP - (66,240 )
Rutland No7 Ltd - 6,559
North Berwick LLP (2170 ) 4,315
Cannonmills Ltd (786 ) (786 )
New Town 29 Ltd 295,724 299,724
Canongate Ltd 249,202 249,202
Castle No30 Ltd 385,191 385,191
Morningside No 64 Ltd 141,260 139,318
Broughton No 1 Ltd 73,784 73,,784