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Company No: SC315335 (Scotland)

GEDDES CONSULTING LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH THE REGISTRAR

GEDDES CONSULTING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2025

Contents

GEDDES CONSULTING LIMITED

BALANCE SHEET

AS AT 31 JANUARY 2025
GEDDES CONSULTING LIMITED

BALANCE SHEET (continued)

AS AT 31 JANUARY 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 61,026 106,970
61,026 106,970
Current assets
Stocks 3,900 3,900
Debtors 4 185,820 477,257
Cash at bank and in hand 717,466 591,997
907,186 1,073,154
Creditors: amounts falling due within one year 5 ( 167,747) ( 293,659)
Net current assets 739,439 779,495
Total assets less current liabilities 800,465 886,465
Creditors: amounts falling due after more than one year 6 0 ( 4,299)
Provision for liabilities ( 3,742) ( 15,251)
Net assets 796,723 866,915
Capital and reserves
Called-up share capital 7 121 121
Share premium account 4,985 4,985
Capital redemption reserve 120 120
Profit and loss account 791,497 861,689
Total shareholders' funds 796,723 866,915

For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Geddes Consulting Limited (registered number: SC315335) were approved and authorised for issue by the Board of Directors on 06 May 2025. They were signed on its behalf by:

Mr S Salter
Director
GEDDES CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2025
GEDDES CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2025
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

Geddes Consulting Limited (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 17 Bernard Street, Edinburgh, EH6 6PW, United Kingdom.

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

Turnover

Turnover represents amounts receivable for planning advice net of VAT and trade discounts.

Revenue from the provision of planning advice is recognised upon the completion of the service, and when the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Employee benefits

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

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 4 years straight line
Fixtures and fittings 4 years straight line
Computer equipment 4 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Work in progress represents the costs associated with professional services delivered to customers still ongoing at the year end. Cost comprises of direct materials and, where applicable, direct labour costs and those overheads that have been incurred in completing the professional services.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at cost.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially 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

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 12

3. Tangible assets

Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 February 2024 176,585 17,235 23,810 217,630
Additions 0 583 3,350 3,933
At 31 January 2025 176,585 17,818 27,160 221,563
Accumulated depreciation
At 01 February 2024 84,283 14,043 12,334 110,660
Charge for the financial year 44,146 1,637 4,094 49,877
At 31 January 2025 128,429 15,680 16,428 160,537
Net book value
At 31 January 2025 48,156 2,138 10,732 61,026
At 31 January 2024 92,302 3,192 11,476 106,970

4. Debtors

2025 2024
£ £
Trade debtors 143,549 323,143
Other debtors 42,271 154,114
185,820 477,257

5. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 2,074 3,887
Corporation tax 40,263 101,618
Other taxation and social security 60,252 94,949
Other creditors 65,158 93,205
167,747 293,659

Within other creditors are hire purchase obligation of £4,299 (2024 - £39,334). These are secured over the assets to which they relate.

6. Creditors: amounts falling due after more than one year

2025 2024
£ £
Obligations under finance leases and hire purchase contracts 0 4,299

Hire purchase obligations are secured over the assets to which they relate.

7. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
1,212 Ordinary shares of £ 0.10 each 121 121

8. Financial commitments

Other financial commitments

2025 2024
£ £
Total commitments in relation to rental lease 7,513 41,635

9. Related party transactions

Transactions with the entity's directors

2025 2024
£ £
Key management personnel 24,288 120,302

During the year, advances of £106,487 were made and £203,463 was repaid. Interest of £962 was applied to the loan, bringing the closing balance as at 31 January 2025 to £24,288. The loan is unsecured with no fixed repayments terms and interest is charged at a rate of 2.25%.