Eldon Developments Ltd. - Accounts to registrar (filleted)

REGISTERED NUMBER: SC064237 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

Eldon Developments Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A W Lobban

SECRETARY:

Mrs L C M Johnstone

REGISTERED OFFICE:

c/o Gillespie & Anderson CA

147 Bath Street

Glasgow

G2 4SN

REGISTERED NUMBER:

SC064237 (Scotland)

ACCOUNTANTS:

Gillespie & Anderson

Chartered Accountants

147 Bath Street

Glasgow

G2 4SN

FIXED ASSETS

Tangible assets

4

1,041,834

CURRENT ASSETS

Debtors

5

31,291

43,724

Cash at bank

60,171

77,251

91,462

120,975

CREDITORS

Amounts falling due within one year

6

35,983

32,277

NET CURRENT ASSETS

55,479

88,698

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,097,313

1,130,532

CAPITAL AND RESERVES

Called up share capital

101

Other reserves

586,434

Retained earnings

510,778

543,997

SHAREHOLDERS' FUNDS

1,097,313

1,130,532

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 September 2025 and were signed by:

A W Lobban - Director

1.	STATUTORY INFORMATION

Eldon Developments Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company has cash resources and has no requirement for external funding. The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to believe the going concern basis of accountancy appropriate in preparing the annual financial statements.

Significant judgements and estimates

The director has made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The director's estimates, assumptions and judgements that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes.

Turnover

Turnover represents revenue recognised in the financial statements. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying goods and services, and is exclusive of VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

No depreciation is provided in respect of freehold investment properties in accordance with FRS 102, as these are regarded as investment properties, which are accordingly measured at fair value at the balance sheet date. Any changes in fair value measurement are recognised in profit or loss.

Financial instruments

The company has no complex financial instruments but does hold basic financial instruments of; cash at bank, debtors and creditors.

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Any bank overdraft would be shown within current liabilities.

Trade and other debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effective of discounting would be immaterial. In such cases, trade and other debtors are stated at cost less losses for bad debts.

Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other creditors are stated at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Employee benefits

The total cost of employee benefits to which employees have become entitled as a result of service rendered to the entity during the reporting period are recognised and charged to the profit and loss account in the period to which they relate.

Provision for liabilities

A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST OR VALUATION

At 1 February 2024

and 31 January 2025

1,041,834

1,291

1,043,125

DEPRECIATION

At 1 February 2024

and 31 January 2025

-

1,291

NET BOOK VALUE

At 31 January 2025

1,041,834

-

1,041,834

At 31 January 2024

1,041,834

-

1,041,834

The amounts shown as land & buildings relate solely to the company's investment property portfolio.

Cost or valuation at 31 January 2025 is represented by:

Land and

buildings

£

Valuation in 2005

675,519

Valuation in 2012

(89,085

)

Cost

455,400

1,041,834

If investment properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

Cost

455,400

Investment properties were valued on an open market value basis on 31 January 2024 by the director of the company .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

199

458

Other debtors

31,092

43,266

31,291

43,724

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Taxation and social security

2,944

2,694

Other creditors

33,039

29,583

35,983

32,277

7.	OTHER FINANCIAL COMMITMENTS

After the balance sheet date, but prior to the financial statements being formally approved, the company paid out dividends totalling £150,000.

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £12,096 (2024 - £8,064) were paid to the director .

The director's loan account at 31 January 2025 stands at £3,133 (2024 - £2,340). Movement in the year consisted of company expenses met by the director.

9.	ULTIMATE CONTROLLING PARTY

Following share transfers made in a previous year, the director considers that no individual has ultimate control of the company, due to the distribution of the issued share capital in the company between shareholders in the company.