Silverfin false false 31/07/2024 01/08/2023 31/07/2024 Mr P McGinlay 30/09/2022 14 July 2025 The principal activity of the company in the period was the provision of general administrative services to related entities. SC745922 2024-07-31 SC745922 bus:Director1 2024-07-31 SC745922 core:CurrentFinancialInstruments 2024-07-31 SC745922 core:CurrentFinancialInstruments 2023-07-31 SC745922 2023-07-31 SC745922 core:ShareCapital 2024-07-31 SC745922 core:ShareCapital 2023-07-31 SC745922 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC745922 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC745922 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2024-07-31 SC745922 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-07-31 SC745922 core:CurrentFinancialInstruments 1 2024-07-31 SC745922 core:CurrentFinancialInstruments 1 2023-07-31 SC745922 bus:OrdinaryShareClass1 2024-07-31 SC745922 2023-08-01 2024-07-31 SC745922 bus:FilletedAccounts 2023-08-01 2024-07-31 SC745922 bus:SmallEntities 2023-08-01 2024-07-31 SC745922 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 SC745922 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC745922 bus:Director1 2023-08-01 2024-07-31 SC745922 2022-09-30 2023-07-31 SC745922 core:CurrentFinancialInstruments 2023-08-01 2024-07-31 SC745922 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 SC745922 bus:OrdinaryShareClass1 2022-09-30 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC745922 (Scotland)

GROUP ADMIN LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH THE REGISTRAR

GROUP ADMIN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024

Contents

GROUP ADMIN LIMITED

BALANCE SHEET

AS AT 31 JULY 2024
GROUP ADMIN LIMITED

BALANCE SHEET (continued)

AS AT 31 JULY 2024
Note 31.07.2024 31.07.2023
£ £
Current assets
Debtors 3 185,730 5,615
185,730 5,615
Creditors: amounts falling due within one year 4 ( 189,404) ( 7,265)
Net current liabilities (3,674) (1,650)
Total assets less current liabilities (3,674) (1,650)
Net liabilities ( 3,674) ( 1,650)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account ( 3,774 ) ( 1,750 )
Total shareholder's deficit ( 3,674) ( 1,650)

For the financial year ending 31 July 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 financial statements of Group Admin Limited (registered number: SC745922) were approved and authorised for issue by the Director on 14 July 2025. They were signed on its behalf by:

Mr P McGinlay
Director
GROUP ADMIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
GROUP ADMIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
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 period, unless otherwise stated.

General information and basis of accounting

Group Admin 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 58 Waterloo Street, Glasgow, G2 7DA, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £3,674. The Company will be supported through loans from the other connected companies under common control . The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the connected companies will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets 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 Profit and Loss Account.

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, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 and subsequently measured at amortised cost using the effective interest method.

2. Employees

Year ended
31.07.2024
Period from
30.09.2022 to
31.07.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 2

3. Debtors

31.07.2024 31.07.2023
£ £
Amounts owed by connected companies 185,630 5,515
Other debtors 100 100
185,730 5,615

4. Creditors: amounts falling due within one year

31.07.2024 31.07.2023
£ £
Amounts owed to connected companies 132,755 0
Other taxation and social security 51,651 5,515
Other creditors 4,998 1,750
189,404 7,265

There are no amounts included above in respect of which any security has been given by the small entity.

5. Called-up share capital

31.07.2024 31.07.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

6. Related party transactions

Other related party transactions

31.07.2024 31.07.2023
£ £
Amounts owed by connected company 185,630 5,515
Amounts owed to connected company (132,755) 0

The loans are interest free with no repayment terms.