0 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 221,007 221,007 221,007 xbrli:pure xbrli:shares iso4217:GBP SC441472 2024-01-01 2024-12-31 SC441472 2024-12-31 SC441472 2023-12-31 SC441472 2023-01-01 2023-12-31 SC441472 2023-12-31 SC441472 2022-12-31 SC441472 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 SC441472 bus:Director1 2024-01-01 2024-12-31 SC441472 core:WithinOneYear 2024-12-31 SC441472 core:WithinOneYear 2023-12-31 SC441472 core:ShareCapital 2024-12-31 SC441472 core:ShareCapital 2023-12-31 SC441472 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC441472 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC441472 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 SC441472 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 SC441472 bus:SmallEntities 2024-01-01 2024-12-31 SC441472 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 SC441472 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC441472 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC441472 bus:FullAccounts 2024-01-01 2024-12-31 SC441472 bus:OrdinaryShareClass1 2024-12-31 SC441472 bus:OrdinaryShareClass1 2023-12-31
COMPANY REGISTRATION NUMBER: SC441472
Sundial CS Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2024
Sundial CS Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
221,007
221,007
Current assets
Debtors
6
1,898
4,727
Cash at bank and in hand
18,327
5,817
--------
--------
20,225
10,544
Creditors: amounts falling due within one year
7
418,790
414,033
---------
---------
Net current liabilities
398,565
403,489
---------
---------
Total assets less current liabilities
( 177,558)
( 182,482)
Provisions
Taxation including deferred tax
5,519
5,465
---------
---------
Net liabilities
( 183,077)
( 187,947)
---------
---------
Capital and reserves
Called up share capital
8
1
1
Profit and loss account
( 183,078)
( 187,948)
---------
---------
Shareholder deficit
( 183,077)
( 187,947)
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 31 December 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 member has 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 .
These financial statements were approved by the board of directors and authorised for issue on 8 May 2025 , and are signed on behalf of the board by:
W J Gray Muir
Director
Company registration number: SC441472
Sundial CS Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
Sundial CS Limited is a private company limited by shares, incorporated and domiciled in Scotland with registered company numberSC441472. The registered office is Mains of Gardyne Guthrie Forfar DD8 2SQ.
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.
Judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. i) Useful economic lives of tangible assets: The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 6 for carrying amounts of tangible assets. ii) Valuation of investment properties: The valuation of investment properties held is sensitive both to market movements and risks associated with individual properties. The director uses his professional knowledge and experience of the property market to reassess the valuations on an annual basis. Where necessary the valuations are amended to reflect the current estimates of their values.
Revenue recognition
The turnover shown in the income statement represents rent receivable during the period, exclusive of Value Added Tax.
Taxation
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.
Tangible assets including investment properties
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Certain of the company's properties are held for long-term investment. Investment properties are accounted for as follows: - Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. - Investment properties whose fair value can be measured reliably are measured at fair value. The surplus or deficit arising on revaluation is recognised in the profit and loss account accumulated in the profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. 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 assets, which include amounts owed by group undertakings and other debtors 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. Basic financial liabilities, which include amounts owed to group undertakings, other creditors, and bank loans and overdrafts 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. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
4. Average number of employees
The average number of employees for the year, including directors, was 1 (2023: 1).
5. Tangible assets
Investment property
£
Cost
At 1 January 2024 and 31 December 2024
221,007
---------
Depreciation
At 1 January 2024 and 31 December 2024
---------
Carrying amount
At 31 December 2024
221,007
---------
At 31 December 2023
221,007
---------
The original cost of the investment properties noted above at valuation is £221,007 (2023: £221,007). The director has considered the value of the heritable and investment properties as at 31 December 2024 and is satisfied that there is no material movement in valuation in use or indicators of impairment to report in the statutory financial statements.
6. Debtors
2024
2023
£
£
Trade debtors
240
431
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1
1
Other debtors
1,657
4,295
-------
-------
1,898
4,727
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
400
Amounts owed to group undertakings and undertakings in which the company has a participating interest
417,803
413,219
Social security and other taxes
686
Other creditors
301
414
---------
---------
418,790
414,033
---------
---------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
9. Related party transactions
The company has taken advantage of exemption under FRS 102 Section 1A from the requirement to disclose information with entities that are wholly owned in the group.
10. Controlling party
The ultimate parent undertaking is Sundial Holdings Limited, a company incorporated in Scotland.
11. Going concern
The director considers the company to be a going concern and therefore the financial statements have been prepared on a going concern basis. The future operations of the company are dependent on the continued financial support of its parent undertaking.
The parent company has confirmed that it is its intention to provide support to the company for a period of not less than twelve months from the date of finalisation of these financial statements.
The director, in preparing these financial statements, is mindful of general economic conditions. The director is confident that the company can meet its obligations as they fall due. The key assumption is the continued financial support of the company's parent undertaking.