Grassmarket Catering Ltd

	Page
Accountant's Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—6

Report to the director on the preparation of the unaudited statutory accounts of Grassmarket Catering Ltd for the year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Grassmarket Catering Ltd for the year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company's accounting records and from information and explanations you have given to us.

As a practising member of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the director of Grassmarket Catering Ltd , as a body, in accordance with the terms of our engagement letter dated 26 October 2023. Our work has been undertaken solely to prepare for your approval the accounts of Grassmarket Catering Ltd and state those matters that we have agreed to state to the director of Grassmarket Catering Ltd , as a body, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grassmarket Catering Ltd and its director, as a body, for our work or for this report.

It is your duty to ensure that Grassmarket Catering Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Grassmarket Catering Ltd . You consider that Grassmarket Catering Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Grassmarket Catering Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Signed

23 September 2025

Glen Drummond Ltd

Chartered Accountants

Argyll House

Quarrywood Court

Livingston

EH54 6AX

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Grassmarket Catering Ltd

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: SC717118

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		71,937		43,115

			71,937		43,115
CURRENT ASSETS
Stocks	5	17,563		17,563
Debtors	6	21,027		45,624
Cash at bank and in hand		260,379		165,514

		298,969		228,701
Creditors: Amounts Falling Due Within One Year	7	(234,354 )		(192,815 )

NET CURRENT ASSETS (LIABILITIES)			64,615		35,886

TOTAL ASSETS LESS CURRENT LIABILITIES			136,552		79,001

Creditors: Amounts Falling Due After More Than One Year	8		(45,857 )		(17,067 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(17,985 )		(10,780 )

NET ASSETS			72,710		51,154

CAPITAL AND RESERVES
Called up share capital	11		100		100
Profit and Loss Account			72,610		51,054

SHAREHOLDERS' FUNDS			72,710		51,154

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Grassmarket Catering Ltd

Balance Sheet (continued)

As At 31 December 2024

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.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr M Crolla

Director

23 September 2025

The notes on pages 4 to 6 form part of these financial statements.

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Grassmarket Catering Ltd

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Grassmarket Catering Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC717118 . The registered office is Argyll House, Quarrywood Court, Livingston, West Lothian, EH54 6AX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% Reducing balance
Fixtures & Fittings	25% Straight line
Computer Equipment	20% Straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Financial Instruments

Basic financial instruments are initially recognised at transaction price, including transaction costs, and subsequently measured at amortised cost using the effective interest method, where applicable. These can include trade and other debtors, cash and bank balances, trade and other creditors, and intercompany balances. Financial assets are assessed at the end of each reporting period for evidence of impairment and adjusted if necessary. The company does not hold or issue any complex financial instruments such as derivatives.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Grassmarket Catering Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 31 (2023: 31)

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	32,000	27,807	4,772	64,579
Additions	65,317	-	3,830	69,147
Disposals	(32,000 )	-	-	(32,000 )

As at 31 December 2024	65,317	27,807	8,602	101,726

Depreciation
As at 1 January 2024	8,000	12,091	1,373	21,464
Provided during the period	8,165	6,952	1,208	16,325
Disposals	(8,000 )	-	-	(8,000 )

As at 31 December 2024	8,165	19,043	2,581	29,789

Net Book Value
As at 31 December 2024	57,152	8,764	6,021	71,937

As at 1 January 2024	24,000	15,716	3,399	43,115

5. Stocks

	2024	2023
	£	£
Stock	17,563	17,563

6. Debtors

	2024	2023
	£	£
Due within one year
Amounts owed by group undertakings	20,092	44,790
Other debtors	935	834

	21,027	45,624

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Grassmarket Catering Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	11,479	6,400
Trade creditors	69,595	35,406
Other creditors	39,247	48,689
Taxation and social security	114,033	102,320

	234,354	192,815

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	45,857	17,067

9. Secured Creditors

The hire purchase liabilities are secured over the assets concerned.

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	57,336	23,467
Trade Creditors	69,594	35,407

10. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	11,479	6,400
Later than one year and not later than five years	45,857	17,067

	57,336	23,467

	57,336	23,467

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

12. Related Party Disclosures

The company operates a loan account with the director, Mr M Crolla.

During the year, the director advanced loans totalling £6,468 to the company. At the year end, the balance due to the director is £6,468 (2023: NIL). This loan is unsecured, interest free and has no fixed repayment terms.

The company operates a loan account with Grassmarket Holdings Ltd, the parent company.

During the year, Grassmarket Holdings Ltd charged rent totalling £144,000 (2023: £144,000) to the company, this was conducted under normal commercial terms.

During the year, Grassmarket Catering Ltd repaid loans totalling £24,698 to the company. At the year end, the balance due from Grassmarket Holdings Ltd was £20,092 (2023: £44,790). This loan is unsecured, interest free and has no fixed repayment term

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