1 January 2024 v2025.57.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBPSC7181122024-01-012024-12-31SC7181122024-12-31SC7181122023-12-31SC718112core:WithinOneYear2024-12-31SC718112core:WithinOneYear2023-12-31SC718112core:ShareCapital2024-12-31SC718112core:ShareCapital2023-12-31SC718112core:RetainedEarningsAccumulatedLosses2024-12-31SC718112core:RetainedEarningsAccumulatedLosses2023-12-31SC718112bus:Director12024-01-012024-12-31SC718112bus:RegisteredOffice2024-01-012024-12-31SC71811212024-01-012024-12-31SC7181122023-01-012023-12-31SC718112countries:Scotland2024-01-012024-12-31SC718112bus:AuditExemptWithAccountantsReport2024-01-012024-12-31SC718112bus:PrivateLimitedCompanyLtd2024-01-012024-12-31SC718112bus:SmallEntities2024-01-012024-12-31SC718112bus:FullAccounts2024-01-012024-12-31
Company registration number:
SC718112
Edinburgh Picardy Place Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2024
DBFM
The Stables Studio, Hopetoun House, South Queensferry, West Lothian, EH30 9SL, United Kingdom
Edinburgh Picardy Place Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Edinburgh Picardy Place Limited
Year ended
31 December 2024
As described on the statement of financial position, the Board of Directors of
Edinburgh Picardy Place Limited
are responsible for the preparation of the
financial statements
for the year ended
31 December 2024
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
DBFM
The Stables Studio
Hopetoun House
South Queensferry
West Lothian
EH30 9SL
United Kingdom
Date:
27 August 2025
Edinburgh Picardy Place Limited
Statement of Financial Position
31 December 2024
20242023
Note££
Current assets    
Stocks
267,680
 
168,872
 
Debtors 5
1,227
 
3,344
 
Cash at bank and in hand
871
 
42
 
269,778
 
172,258
 
Creditors: amounts falling due within one year 6
(275,645
 )
(190,843
 )
Net current liabilities
(5,867
 )
(18,585
 )
Total assets less current liabilities (5,867 ) (18,585 )
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
(5,868
 )
(18,586
 )
Shareholders deficit
(5,867
 )
(18,585
 )
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.
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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
27 August 2025
, and are signed on behalf of the board by:
A Peters
Director
Company registration number:
SC718112
Edinburgh Picardy Place Limited
Notes to the Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
3
,
Walker Street
,
Edinburgh
,
Midlothian
,
EH3 7JY
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

The company is in the process of developing a property at Picardy Place Edinburgh. As is common with all such developments at this stage the company is reliant upon the continued support of its funder Perlota, until such time the project is completed and sold. The directors have no reason to believe funding will be withdrawn at any point over the next twelve months.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. There has been a change in the basis of calculating the value of work in progress. Interest payable on loans from funders is now included within work in progress from this accounting period.

Financial instruments

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 instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2023: Nil).

5 Debtors

20242023
££
Other debtors
1,227
 
3,344
 

6 Creditors: amounts falling due within one year

20242023
££
Trade creditors
6,455
  -  
Other creditors
269,190
 
190,843
 
275,645
 
190,843