Company No: SC149145 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	666,613		679,750
Investments	4	2,288		2,288
		668,901		682,038
Current assets
Debtors
- due within one year	5	18,463		98
- due after more than one year	5	3,500		3,500
Cash at bank and in hand		10,625		12,259
		32,588		15,857
Creditors: amounts falling due within one year	6	( 595,527)		( 728,377)
Net current liabilities		(562,939)		(712,520)
Total assets less current liabilities		105,962		(30,482)
Creditors: amounts falling due after more than one year	7	0		( 3,362)
Provision for liabilities	8	0		( 195)
Net assets/(liabilities)		105,962		( 34,039)
Capital and reserves
Called-up share capital	9	2,225		2,225
Capital redemption reserve		275		275
Profit and loss account		103,462		( 36,539 )
Total shareholders' funds/(deficit)		105,962		( 34,039)

For the financial 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 financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Jasmine Holdings Limited (registered number: SC149145) were approved and authorised for issue by the Board of Directors on 23 September 2025. They were signed on its behalf by:

Neil Frew Stewart Director

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 year, unless otherwise stated.

General information and basis of accounting

Jasmine Holdings 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 47 Woodside Road, Bridge Of Don Industrial Estate, Aberdeen, AB23 8EF, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the provision of services is recognised in the period in which service is the performed.

Rental income represents rent receivable, excluding VAT and recognised in the financial statements over the term of lease.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	60.75 years straight line
Computer equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, 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 Statement of Income and Retained Earnings as described below.

Non-financial assets
At each reporting period end date, The company reviews the carrying amounts of tangible assets to determine whether there is any indication that those assets have suffered and impairment loss. if any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

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 and cash and bank balances, 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 and loans from fellow group companies are recognised at transaction price.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Leasehold improve- ments		Computer equipment		Total
	£		£		£
Cost
At 01 January 2024	856,976		1,868		858,844
At 31 December 2024	856,976		1,868		858,844
Accumulated depreciation
At 01 January 2024	177,226		1,868		179,094
Charge for the financial year	13,137		0		13,137
At 31 December 2024	190,363		1,868		192,231
Net book value
At 31 December 2024	666,613		0		666,613
At 31 December 2023	679,750		0		679,750

4. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	2,288
At 31 December 2024	2,288
Carrying value at 31 December 2024	2,288
Carrying value at 31 December 2023	2,288

5. Debtors

	2024		2023
	£		£
Debtors: amounts falling due within one year
Trade debtors	98		98
Deferred tax asset	241		0
Corporation tax	16,943		0
Other debtors	1,181		0
	18,463		98
Debtors: amounts falling due after more than one year
Other debtors	3,500		3,500

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	2,568		2,436
Amounts owed to Group undertakings	559,764		484,764
Taxation and social security	3,479		18,964
Obligations under finance leases and hire purchase contracts	3,362		6,723
Other creditors	26,354		215,490
	595,527		728,377

There is a standard security held over the related assets for amounts on hire purchase contacts.

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Obligations under finance leases and hire purchase contracts	0		3,362

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

8. Provision for liabilities

	2024		2023
	£		£
Deferred tax	0		195

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
2,225 Ordinary shares of £ 1.00 each	2,225		2,225

10. Related party transactions

During the year, sales of £112,478 (2023 - £112,478) were made to a subsidiary company. In addition to this, there was a further £75,000 loan advanced and no repayments during the year. At the year end the balance due to this company was £559,764 (2023 - £484,764).

The company was controlled by S M Cowie throughout the current year and previous period.