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COMPANY REGISTRATION NUMBER: SC661313
Prem Apart Glasgow 2 Ltd
Filleted Financial Statements
31 December 2024
Prem Apart Glasgow 2 Ltd
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Current assets
Debtors
5
100
100
Cash at bank and in hand
592
536
----
----
692
636
Creditors: amounts falling due within one year
6
3,000
2,000
-------
-------
Net current liabilities
2,308
1,364
-------
-------
Total assets less current liabilities
( 2,308)
( 1,364)
-------
-------
Net liabilities
( 2,308)
( 1,364)
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 2,408)
( 1,464)
-------
-------
Shareholders deficit
( 2,308)
( 1,364)
-------
-------
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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 3 June 2025 , and are signed on behalf of the board by:
Mr S Loftus
Mr P Dempsey
Director
Director
Company registration number: SC661313
Prem Apart Glasgow 2 Ltd
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Olympic House, 136-148 Queen Street, Glasgow, G1 3BX, Scotland.
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 are prepared on a basis other than going concern, under the historical cost convention, and comply with the financial reporting standards of the Financial Reporting Council and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity.
Debtors
Trade and other debtors including amounts owed by group companies are recognised initially at transaction price. A provision for impairment is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of receivables.
Cash and cash equivalents
Cash and equivalents include cash on hand and demand deposits.
Creditors and accruals
Creditors and accruals are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Share capital
Ordinary shares are classified as equity.
Judgements and key sources of estimation uncertainty
The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Judgements and estimates are continually evaluated and are based on historical experiences 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. There are no estimates and assumptions that have a significant effect on amounts recognised in the financial statements.
4. Employee numbers
The average number of persons employed by the company during the year amounted to nil (2022: nil).
5. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
100
100
----
----
Amounts owed by group companies are unsecured, interest free and repayable on demand.
6. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
2,280
1,280
Other creditors
720
720
-------
-------
3,000
2,000
-------
-------
Amounts owed to group companies are unsecured, interest free and repayable on demand.
7. Charges on assets
On 15 September 2020 the company created a floating charge over all the property or undertaking of the company in favour of HSBC UK Bank Plc in relation to a loan and charge card facility advanced to Windshear Ltd, the parent of the company.
8. Summary audit opinion
The auditor's report dated 3 June 2025 was unqualified .
The senior statutory auditor was Ms Kate Crossan , for and on behalf of Lenfestey & Co .
9. Related party transactions
In accordance with FRS 102 the company has elected not to disclose related party transactions with wholly owned subsidiary companies within the group.
10. Ethical standards
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
11. Controlling party
The company is a wholly owned subsidiary of Windshear Ltd . The company's ultimate parent undertaking is FRO III Cedar Holdings LP , a Cayman Islands Limited Partnership with a registered office at Maples Corporate Services Limited, P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. The parent of the smallest group in which the results are consolidated is Arago Investments Ltd , a company registered in Ireland with a registered office address at 12 Lower Hatch Street, Dublin 2, D02R682, Ireland .