45 01/10/2023 30/09/2024 2024-09-30 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-10-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP SC157926 2023-10-01 2024-09-30 SC157926 2024-09-30 SC157926 2023-09-30 SC157926 2022-10-01 2023-09-30 SC157926 2023-09-30 SC157926 2022-09-30 SC157926 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC157926 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 SC157926 core:MotorVehicles 2023-10-01 2024-09-30 SC157926 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 SC157926 bus:Director1 2023-10-01 2024-09-30 SC157926 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 SC157926 core:FurnitureFittingsToolsEquipment 2023-09-30 SC157926 core:MotorVehicles 2023-09-30 SC157926 core:LandBuildings core:OwnedOrFreeholdAssets 2024-09-30 SC157926 core:FurnitureFittingsToolsEquipment 2024-09-30 SC157926 core:MotorVehicles 2024-09-30 SC157926 core:WithinOneYear 2024-09-30 SC157926 core:WithinOneYear 2023-09-30 SC157926 core:AfterOneYear 2024-09-30 SC157926 core:AfterOneYear 2023-09-30 SC157926 core:ShareCapital 2024-09-30 SC157926 core:ShareCapital 2023-09-30 SC157926 core:RevaluationReserve 2024-09-30 SC157926 core:RevaluationReserve 2023-09-30 SC157926 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC157926 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC157926 bus:OrdinaryShareClass1 core:ShareCapital 2024-09-30 SC157926 bus:OrdinaryShareClass1 core:ShareCapital 2023-09-30 SC157926 core:DeferredTaxation 2023-10-01 2024-09-30 SC157926 core:AcceleratedTaxDepreciationDeferredTax 2023-09-30 SC157926 core:RevaluationPropertyPlantEquipmentDeferredTax 2024-09-30 SC157926 core:RevaluationPropertyPlantEquipmentDeferredTax 2023-09-30 SC157926 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 SC157926 core:FurnitureFittingsToolsEquipment 2023-09-30 SC157926 core:MotorVehicles 2023-09-30 SC157926 core:DeferredTaxation 2023-09-30 SC157926 core:DeferredTaxation 2024-09-30 SC157926 bus:Director2 2023-09-30 SC157926 bus:Director2 2024-09-30 SC157926 bus:Director2 2022-09-30 SC157926 bus:Director2 2023-09-30 SC157926 bus:Director2 2023-10-01 2024-09-30 SC157926 bus:Director2 2022-10-01 2023-09-30 SC157926 bus:SmallEntities 2023-10-01 2024-09-30 SC157926 bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 SC157926 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 SC157926 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC157926 bus:FullAccounts 2023-10-01 2024-09-30 SC157926 core:OtherDeferredTax 2024-09-30 SC157926 core:WithinOneYear 2023-10-01 2024-09-30 SC157926 bus:Director1 2023-09-30 SC157926 bus:Director1 2024-09-30 SC157926 bus:Director1 2022-09-30 SC157926 bus:Director1 2022-10-01 2023-09-30
Company registration number: SC157926
Claremont Park Ltd
Unaudited filleted financial statements
30 September 2024
Claremont Park Ltd
Statement of financial position
30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 1,780,140 1,816,014
_______ _______
1,780,140 1,816,014
Current assets
Stocks 750 750
Debtors 6 360,795 322,720
Cash at bank and in hand 28,138 43,009
_______ _______
389,683 366,479
Creditors: amounts falling due
within one year 7 ( 161,421) ( 198,583)
_______ _______
Net current assets 228,262 167,896
_______ _______
Total assets less current liabilities 2,008,402 1,983,910
Creditors: amounts falling due
after more than one year 8 ( 10,833) ( 20,833)
Provisions for liabilities 9 ( 50,137) ( 55,947)
_______ _______
Net assets 1,947,432 1,907,130
_______ _______
Capital and reserves
Called up share capital 11 300,000 300,000
Revaluation reserve 797,474 799,365
Profit and loss account 849,958 807,765
_______ _______
Shareholders funds 1,947,432 1,907,130
_______ _______
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 26 March 2025 , and are signed on behalf of the board by:
Shafqat Ali
Director
Company registration number: SC157926
Claremont Park Ltd
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in Scotland ( SC157926 ). The address of the registered office is 6 Claremont Park, Edinburgh, EH6 7PH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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 measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity .
The level of rounding in the financial statements is to the nearest £1.
The financial statements relate to the individual entity only.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for fees invoiced during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Buildings - 2 % straight line
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
Land - Nil
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets .
Stocks
Stocks are measured at cost.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.Government grants are recognised using the accrual model.Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
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 in finance costs in profit or loss in the period it arises.
Financial instruments
Basic financial instruments are initially recognised at the tranaction 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. Debt instruments are subsequently measured at amortised cost. Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash and short term highly liquid investments. Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due .
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 45 (2023: 52 ).
5. Tangible assets
Freehold property Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 1,726,026 455,189 49,995 2,231,210
Additions - 9,890 - 9,890
_______ _______ _______ _______
At 30 September 2024 1,726,026 465,079 49,995 2,241,100
_______ _______ _______ _______
Depreciation
At 1 October 2023 73,097 310,668 31,430 415,195
Charge for the year 2,521 38,603 4,641 45,765
_______ _______ _______ _______
At 30 September 2024 75,618 349,271 36,071 460,960
_______ _______ _______ _______
Carrying amount
At 30 September 2024 1,650,408 115,808 13,924 1,780,140
_______ _______ _______ _______
At 30 September 2023 1,652,929 144,521 18,565 1,816,015
_______ _______ _______ _______
Freehold property is recognised above using a pre transition value as deemed cost at 1 October 2015. The historical cost of the freehold property is £821,131.
6. Debtors
2024 2023
£ £
Trade debtors 123,135 84,018
Amounts owed by group undertakings and undertakings in which the company has a participating interest 232,001 191,800
Other debtors 5,659 46,902
_______ _______
360,795 322,720
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 76,411 74,805
Corporation tax 21,414 64,827
Social security and other taxes 30,305 21,723
Other creditors 23,291 27,228
_______ _______
161,421 198,583
_______ _______
A standard security was granted on 7 August 2009 in favour of Barclays Bank Plc in respect of all sums due or to become due. This also includes all sums due by the parent company Claremont Park (Scotland) Ltd. Barclays Bank Plc also holds a bond and floating charge over all assets of the company. Refer to note 12.
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 10,833 20,833
_______ _______
9. Provisions
Deferred tax (note 10) Total
£ £
At 1 October 2023 55,947 55,947
Charges against provisions ( 5,810) ( 5,810)
_______ _______
At 30 September 2024 50,137 50,137
_______ _______
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note 9) 50,137 55,947
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances - 5,240
Revaluation of tangible assets 50,707 50,707
Other timing differences ( 570) -
_______ _______
50,137 55,947
_______ _______
11. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 300,000 300,000 300,000 300,000
_______ _______ _______ _______
12. Contingent assets and liabilities
The company is party to a guarantee in respect of all sums due by its parent company Claremont Park (Scotland) Ltd to Barclays Bank which amounted to £nil at 30 September 2024 (2023: £110,429). The company's land and property is held by the bank as security for the Claremont Park (Scotland) Ltd debt.
13. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
168 2,500 ( 2,500) 168
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
( 373) 6,806 ( 6,265) 168
_______ _______ _______ _______
Included in debtors is an amount owed to the company from the director of £168 (2023: £168). This amount is interest free and repayable on demand.
14. Related party transactions
Included within debtors is an amount owed from the parent company Claremont Park (Scotland) Ltd of £232,001 (2023 £191,800). This amount is interest free and repayable on demand.