REGISTERED NUMBER: SC723557 (Scotland)

Audited Financial Statements for the Year Ended 31 December 2024

for

Locogen Developments Holdings Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Investments

4

558

559

CURRENT ASSETS

Stocks

106,009

4,743

Debtors

5

956,084

818,085

Cash at bank

303,158

84,771

1,365,251

907,599

CREDITORS

Amounts falling due within one year

6

(26,440

)

(1,507,725

)

NET CURRENT ASSETS/(LIABILITIES)

1,338,811

(600,126

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,339,369

(599,567

)

CAPITAL AND RESERVES

Called up share capital

1

1

Share premium

18,004

14,247

Retained earnings

1,321,364

(613,815

)

1,339,369

(599,567

)

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 director and authorised for issue on 25 September 2025 and were signed by:

Mr A W Lyle - Director

1.	STATUTORY INFORMATION

Locogen Developments Holdings Limited is a private company, limited by shares, domiciled in Scotland, registration number SC723557. The registered office is c/o Locogen Limited, 4 West Silvermills Lane, Edinburgh, Scotland, EH3 5BD.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Investments in subsidiaries and associates

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and

subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

Interest

Interest

group

in joint

in

undertakings

venture

associate

Totals

£

£

£

£

COST

At 1 January 2024

10

50

499

559

Disposals

(1

)

-

-

(1

)

At 31 December 2024

9

50

499

558

NET BOOK VALUE

At 31 December 2024

9

50

499

558

At 31 December 2023

10

50

499

559

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

-

24,000

Amounts owed by group undertakings

871,610

467,766

Amounts owed by joint ventures

49,540

302,818

Amounts owed by related parties

15,000

23,501

Other debtors

19,934

-

956,084

818,085

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

13,799

-

Amounts owed to group undertakings

6

1,475,532

Taxation and social security

-

25,167

Other creditors

12,635

7,026

26,440

1,507,725

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

The Report of the Auditors was unqualified.

Craig Clinton (Senior Statutory Auditor)

for and on behalf of Drummond Laurie CA

8.	RELATED PARTY DISCLOSURES

At the year end, the company was owed £49,540 by joint ventures (2023: £302,868) and £15,000 by related parties (2023: £nil).

At the year-end, the company owed £nil to joint ventures (2023: £50).

9.	ULTIMATE PARENT ENTITY

Locogen Limited is registered in Scotland under registration number SC370060. The registered office is 4 West Silvermills Lane, Edinburgh, Scotland, EH3 5BD.