IRIS Accounts Production v25.2.0.378 SC124096 Board of Directors Board of Directors 1.4.24 31.3.25 31.3.25 3.9.25 0 0 false true false false true false Auditors Opinion "A" Ordinary 1.00000 "B" Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC124096 2024-03-31 SC124096 2025-03-31 SC124096 2024-04-01 2025-03-31 SC124096 2023-03-31 SC124096 2023-04-01 2024-03-31 SC124096 2024-03-31 SC124096 ns15:Scotland 2024-04-01 2025-03-31 SC124096 ns14:PoundSterling 2024-04-01 2025-03-31 SC124096 ns10:Director1 2024-04-01 2025-03-31 SC124096 ns10:Director2 2024-04-01 2025-03-31 SC124096 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC124096 ns10:SmallEntities 2024-04-01 2025-03-31 SC124096 ns10:Audited 2024-04-01 2025-03-31 SC124096 ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 SC124096 ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 SC124096 ns10:FullAccounts 2024-04-01 2025-03-31 SC124096 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 SC124096 ns10:OrdinaryShareClass2 2024-04-01 2025-03-31 SC124096 ns10:Director3 2024-04-01 2025-03-31 SC124096 ns10:Director6 2024-04-01 2025-03-31 SC124096 ns10:Director7 2024-04-01 2025-03-31 SC124096 ns10:RegisteredOffice 2024-04-01 2025-03-31 SC124096 ns5:CurrentFinancialInstruments 2025-03-31 SC124096 ns5:CurrentFinancialInstruments 2024-03-31 SC124096 ns5:ShareCapital 2025-03-31 SC124096 ns5:ShareCapital 2024-03-31 SC124096 ns5:CapitalRedemptionReserve 2025-03-31 SC124096 ns5:CapitalRedemptionReserve 2024-03-31 SC124096 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 SC124096 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 SC124096 1 2024-04-01 2025-03-31 SC124096 ns5:FurnitureFittings 2024-04-01 2025-03-31 SC124096 ns5:MotorVehicles 2024-04-01 2025-03-31 SC124096 ns5:ComputerEquipment 2024-04-01 2025-03-31 SC124096 ns5:FurnitureFittings 2024-03-31 SC124096 ns5:MotorVehicles 2024-03-31 SC124096 ns5:ComputerEquipment 2024-03-31 SC124096 ns5:FurnitureFittings 2025-03-31 SC124096 ns5:MotorVehicles 2025-03-31 SC124096 ns5:ComputerEquipment 2025-03-31 SC124096 ns5:FurnitureFittings 2024-03-31 SC124096 ns5:MotorVehicles 2024-03-31 SC124096 ns5:ComputerEquipment 2024-03-31 SC124096 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 SC124096 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 SC124096 ns10:OrdinaryShareClass1 2025-03-31 SC124096 ns10:OrdinaryShareClass2 2025-03-31 SC124096 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 SC124096 ns5:CapitalRedemptionReserve 2024-03-31 SC124096 ns5:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31

REGISTERED NUMBER: SC124096 (Scotland)

Financial Statements for the Year Ended 31 March 2025

for

Stirling Business Centre Limited

| Stirling Business Centre Limited (Registered number: SC124096) |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Stirling Business Centre Limited |

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | Stirling Enterprise Park Limited - corporate director

| D W Beggs

| G A Robertson

| A Conry

| T J Heald

| REGISTERED OFFICE: | John Player Building

| Stirling

| FK7 7RP

| REGISTERED NUMBER: | SC124096 (Scotland)

| SENIOR STATUTORY AUDITOR: | Derek J Smith

| AUDITORS: | Rennie Smith & Co

| Chartered Accountants

| Statutory Auditors

| 64 Murray Place

| Stirling

| FK8 2BX

| Stirling Business Centre Limited (Registered number: SC124096) |

Balance Sheet

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 127,937 |  | 145,961 |  |

Investments | 5 | 43,487 |  | 31,247 |  |

171,424 |  | 177,208 |  |

CURRENT ASSETS

Debtors | 6 | 14,527 |  | 15,822 |  |

Cash at bank and in hand | 215,459 |  | 246,877 |  |

229,986 |  | 262,699 |  |

CREDITORS

Amounts falling due within one year | 7 | 118,642 |  | 132,328 |  |

NET CURRENT ASSETS | 111,344 |  | 130,371 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 282,768 |  | 307,579 |  |

PROVISIONS FOR LIABILITIES | (221 | ) | (1,119 | ) |

ACCRUALS AND DEFERRED INCOME | (26,113 | ) | (33,050 | ) |

NET ASSETS | 256,434 |  | 273,410 |  |

CAPITAL AND RESERVES

Called up share capital | 8 | 10,000 |  | 10,000 |  |

Capital redemption reserve | 9 | 140,000 |  | 140,000 |  |

Retained earnings | 9 | 106,434 |  | 123,410 |  |

SHAREHOLDERS' FUNDS | 256,434 |  | 273,410 |  |

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2025 and were signed on its behalf by:

D W Beggs - Director

A Conry - Director

| Stirling Business Centre Limited (Registered number: SC124096) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Stirling Business Centre Limited 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.

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.

| Critical accounting judgements and key sources of estimation uncertainty

| the preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from these estimates. The following judgements and estimates have had the most significant effects on amounts recognized in the financial statements.

| Leasehold fixtures and furnishings

| The company's investments in leasehold fixtures and fittings are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets are assessed annually and may vary dependent on a number of factors. In re-assessing asset lives, factors such as technology innovation and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, and the remaining life of the asset and projected disposal values.

| Sinking fund provision .

| A charge is included in the monthly rental charge to tenants to cover the long term estimated cost of maintaining the subject in good repair and condition and those funds are maintained in separate investment accounts. The level of charge is subject to a degree of uncertainty and is made on the basis of assumptions which may prove to be inaccurate. If any of the assumptions used by the directors prove to be incorrect this could result in an under or over charge of the amount to meet the cost of such dilapidations. Any under charge will require to be met from the company's reserves

| Turnover

| Turnover represents the amount of invoiced rents and accommodation hire during the year, excluding value added tax.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| L/hold property - fixtures | - | over a period of 60 years

| L/hold property - furnishings | - | in accordance with the property

| Plant & Equipment | - | 20% on cost

| Stirling Business Centre Limited (Registered number: SC124096) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Financial instruments and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all financial liabilities.

| When the contractual obligations of the financial instruments (including share capital) are equivalent to a similar debt instrument those financial instruments are classified as financial liabilities and presented as such in the balance sheet.Finance costs and gains and losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classified as an equity instrument. Dividends and distributions relating to equity instruments are debited directly to equity.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Grant reserve

| Revenue grants are released to the profit and loss account to match the expenditure to which they relate. Capital grants are released to the profit and loss account at the same rate as the depreciation charge on the asset to which they relate.

| Sinking fund provision

| A repairs and maintenance provision presently calculated at £0.39 per square foot of available accommodation at Stirling Business Centre and £0.30 at Enterprise House, as adjusted for relevant maintenance costs incurred, amounting to £43,617, is included in the provision for depreciation of leasehold property furnishings.

3. | EMPLOYEES AND DIRECTORS

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

| Stirling Business Centre Limited (Registered number: SC124096) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

4. | TANGIBLE FIXED ASSETS

| L/hold |  | L/hold |

| property |  | property |  | Plant & |

| - fixtures |  | - furnishings |  | Equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2024 | 60,000 |  | 173,263 |  | 70,940 |  | 304,203 |  |

| Additions | - |  | - |  | 3,276 |  | 3,276 |  |

| Disposals | - |  | - |  | (4,510 | ) | (4,510 | ) |

| At 31 March 2025 | 60,000 |  | 173,263 |  | 69,706 |  | 302,969 |  |

| DEPRECIATION

| At 1 April 2024 | 32,999 |  | 76,798 |  | 48,445 |  | 158,242 |  |

| Charge for year | 1,000 |  | 12,685 |  | 7,615 |  | 21,300 |  |

| Eliminated on disposal | - |  | - |  | (4,510 | ) | (4,510 | ) |

| At 31 March 2025 | 33,999 |  | 89,483 |  | 51,550 |  | 175,032 |  |

| NET BOOK VALUE

| At 31 March 2025 | 26,001 |  | 83,780 |  | 18,156 |  | 127,937 |  |

| At 31 March 2024 | 27,001 |  | 96,465 |  | 22,495 |  | 145,961 |  |

| The movement in the sinking fund provision, included in the provision for depreciation of leasehold property furnishings is as follows:

| Opening provision | £31,377 |  |

| Interest accrued on investment account | 408 |  |

| Provision for year |  |  | 11,832 |  |

| ---------- |

| Balance before release | £43,617 |  |

| Release in year | - |  |

| ---------- |

| Closing balance | £43,617 |  |

5. | FIXED ASSET INVESTMENTS

| 2025 |  | 2024 |  |

| £ |  | £ |  |

| Sinking Fund Bank Account | 43,487 | 31,247 |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other debtors | 14,527 |  | 15,822 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 66,362 |  | 57,951 |  |

| Taxation and social security | - |  | 6,779 |  |

| Other creditors | 52,280 |  | 67,598 |  |

118,642 |  | 132,328 |  |

| Stirling Business Centre Limited (Registered number: SC124096) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 5,000 | "A" Ordinary | £1 | 5,000 |  | 5,000 |  |

| 5,000 | "B" Ordinary | £1 | 5,000 |  | 5,000 |  |

10,000 |  | 10,000 |  |

9. | RESERVES

| Capital |

| Retained |  | redemption |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 April 2024 | 123,410 |  | 140,000 |  | 263,410 |  |

| Deficit for the year | (16,976 | ) | (16,976 | ) |

| At 31 March 2025 | 106,434 |  | 140,000 |  | 246,434 |  |

10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Derek J Smith (Senior Statutory Auditor)

| for and on behalf of Rennie Smith & Co

11. | OTHER FINANCIAL COMMITMENTS

| a.The Company hold a long term lease over the property and subjects at Stirling Business Centre, Wellgreen Place, Stirling which is due to expire on 30 April 2051. The terms of the lease require the Company to pay as rent 85% of its net rental income after all expenditure. It is estimated that the rent payable in the next full rental year will be £83,556.

| b.The Company also hold a long term lease over the property at Enterprise House, Springkerse Business Park, Stirling which is due to expire on 20 February 2056. The terms of the lease require the Company to pay as rent 95% of the net rental income after all expenditure. It is estimated that the rent payable in the next full rental year will be £1.

| ..

| In accordance with FRS 102, the estimated total rental commitment under the aforementioned leases is £2,172,487.

12. | TRANSACTIONS WITH DIRECTORS

| Stirling Enterprise Park Limited, a corporate director of the Company, act as managing agents on behalf of the Company in respect of both properties. The managing agents fees were £38,000 (2024 - £38,000). Staff costs were £68,086 (2024 - £61,525).

13. | RELATED PARTY DISCLOSURES

| Stirling Council is the head landlord and the net rent payable to that company in terms of the leases is in the amount of £83,557 (2024 - £29,454)

| Stirling Business Centre Limited (Registered number: SC124096) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

14. | ULTIMATE CONTROLLING PARTY

| The company is jointly controlled by Stirling Enterprise Park Limited and Stirling Council who are both shareholders of the company.

15. | SUBSCRIPTION AGREEMENTS

| Stirling Enterprise Park Limited and Stirling Council have entered into a subscription agreement whereby those companies would undertake to subscribe for a further 25,000 ordinary shares if required to do so by Stirling Business Centre Limited.