REGISTERED NUMBER: SC579370 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Great Scott Holdings Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M B Payne

K Payne

T Davies

REGISTERED OFFICE:

Drumsheugh Toll

2 Belford Road

Edinburgh

EH4 3BL

REGISTERED NUMBER:

SC579370 (Scotland)

ACCOUNTANTS:

One Accounting Ltd

Chartered Management Accountants

Drumsheugh Toll

2 Belford Road

Edinburgh

Midlothian

EH4 3BL

FIXED ASSETS

Tangible assets

4

474,065

378,738

Investment property

5

13,585,592

13,038,664

14,059,657

13,417,402

CURRENT ASSETS

Debtors

6

191,757

459,155

Cash at bank and in hand

1,839,867

1,617,333

2,031,624

2,076,488

CREDITORS

Amounts falling due within one year

7

607,830

170,523

NET CURRENT ASSETS

1,423,794

1,905,965

TOTAL ASSETS LESS CURRENT LIABILITIES

15,483,451

15,323,367

CREDITORS

Amounts falling due after more than one year

8

(15,001,217

)

(15,105,712

)

PROVISIONS FOR LIABILITIES

(5,193

)

(4,237

)

NET ASSETS

477,041

213,418

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

476,941

213,318

477,041

213,418

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

M B Payne - Director

T Davies - Director

1.	STATUTORY INFORMATION

Great Scott Holdings 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.

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.

Tangible fixed assets

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

Short leasehold

-

10% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipments

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Debt instruments (other than those wholly repayable or receivable within one year) including loans and other

accounts receivable and payable are initially measured at transaction price adjusted for transaction costs. They are subsequently recognised at amortised costs using the effective interest method.

Creditors payable with one year, typically trade payables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid.

Debtors receivable within one year, typically trade receivables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be received.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Short

and

property

leasehold

fittings

£

£

£

COST

At 1 January 2024

320,615

14,966

41,210

Additions

-

-

136,497

At 31 December 2024

320,615

14,966

177,707

DEPRECIATION

At 1 January 2024

-

-

26,510

Charge for year

-

1,497

32,985

At 31 December 2024

-

1,497

59,495

NET BOOK VALUE

At 31 December 2024

320,615

13,469

118,212

At 31 December 2023

320,615

14,966

14,700

Motor

Computer

vehicles

equipments

Totals

£

£

£

COST

At 1 January 2024

37,675

849

415,315

Additions

-

1,353

137,850

At 31 December 2024

37,675

2,202

553,165

DEPRECIATION

At 1 January 2024

9,496

571

36,577

Charge for year

7,535

506

42,523

At 31 December 2024

17,031

1,077

79,100

NET BOOK VALUE

At 31 December 2024

20,644

1,125

474,065

At 31 December 2023

28,179

278

378,738

5.	INVESTMENT PROPERTY

Total

£

COST

At 1 January 2024

13,038,664

Additions

546,928

At 31 December 2024

13,585,592

NET BOOK VALUE

At 31 December 2024

13,585,592

At 31 December 2023

13,038,664

The director responsible for the assessment of the property values does not hold any relevant professional qualifications in respect of property valuations, but he has significant experience of owning and operating properties of this type and is therefore well placed to make a fair value assessment.

During the year additions of £546,928 were made to the investment property. These costs relate to the structural works carried out to one of the investment properties during the year.

Investment property was valued by the directors at 31 December 2024 and is not considered to be materially different from market value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

-

1,689

Other debtors

4,565

6,183

PAYE

1,153

-

Directors' current accounts

62,225

3,504

VAT

5,719

419,844

Prepayments

118,095

27,935

191,757

459,155

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

369,813

1,043

Amounts owed to associates

48,680

53,981

Tax

101,669

58,388

Social security and other taxes

-

706

Other creditors

20,106

55,905

Accrued expenses

67,562

500

607,830

170,523

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed to associates

14,970,617

15,075,112

Other creditors

30,600

30,600

15,001,217

15,105,712

9.	RELATED PARTY DISCLOSURES

From time to time the company enters into transactions with other Companies under common control or in which significant influence is held by the directors. Where these transactions have been made under normal market conditions specific details are not provided.

Loans owed to other related parties

2024

2023

£

£

Opening Balance

15,178,119

15,279,667

Amounts paid by related parties on behalf of the company

-

-

Amounts paid on behalf of related parties

(103,009

)

(101,548

)

Closing Balance

15,075,110

15,178,119

Total interest charges for year

168,792

170,251

Interest is charged on these loans at varying rates depending on when the loan was drawn. The rates of interest charged are 1%, 1.01% & 3% per annum.

Current balances owed (to)/by other related parties

2024

2023

£

£

Opening Balance

49,026

42,294

Amounts paid by related parties on behalf of the company

(3,713

)

(42,724

)

Amounts paid on behalf of related parties

10,500

49,456

Closing Balance

55,813

49,026

Associate Balance < 1 year

(104,493

)

(103,007

)

Net Balance Owed (to)/by associates

(48,680

)

(53,981

)