Silverfin false false 31/12/2024 01/01/2024 31/12/2024 A Stewart 21/03/2023 17 October 2025 The principal activity during the financial period was that of subletting leased property. SC616749 2024-12-31 SC616749 bus:Director1 2024-12-31 SC616749 2023-12-31 SC616749 core:CurrentFinancialInstruments 2024-12-31 SC616749 core:CurrentFinancialInstruments 2023-12-31 SC616749 core:Non-currentFinancialInstruments 2024-12-31 SC616749 core:Non-currentFinancialInstruments 2023-12-31 SC616749 core:ShareCapital 2024-12-31 SC616749 core:ShareCapital 2023-12-31 SC616749 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC616749 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC616749 core:LandBuildings 2023-12-31 SC616749 core:OtherPropertyPlantEquipment 2023-12-31 SC616749 core:LandBuildings 2024-12-31 SC616749 core:OtherPropertyPlantEquipment 2024-12-31 SC616749 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-12-31 SC616749 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-12-31 SC616749 bus:OrdinaryShareClass1 2024-12-31 SC616749 2024-01-01 2024-12-31 SC616749 bus:FilletedAccounts 2024-01-01 2024-12-31 SC616749 bus:SmallEntities 2024-01-01 2024-12-31 SC616749 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 SC616749 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC616749 bus:Director1 2024-01-01 2024-12-31 SC616749 core:LandBuildings 2024-01-01 2024-12-31 SC616749 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 SC616749 2023-01-01 2023-12-31 SC616749 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 SC616749 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 SC616749 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC616749 (Scotland)

# ST VINCENT STREET (497) LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

ST VINCENT STREET (497) LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

ST VINCENT STREET (497) LIMITED

## BALANCE SHEET

AS AT 31 DECEMBER 2024
ST VINCENT STREET (497) LIMITED

## BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 93,939 |  | 56,244
|  | 93,939 |  | 56,244
Current assets |  |  |  |
Debtors | 4 | 13,178 |  | 8,950
Cash at bank and in hand |  | 807 |  | 22,685
|  | 13,985 |  | 31,635
Creditors: amounts falling due within one year | 5 | ( 75,330) |  | ( 66,034)
Net current liabilities |  | (61,345) |  | (34,399)
Total assets less current liabilities |  | 32,594 |  | 21,845
Creditors: amounts falling due after more than one year | 6 | ( 84,971) |  | ( 20,294)
Net (liabilities)/assets |  | ( 52,377) |  | 1,551
Capital and reserves |  |  |  |
Called-up share capital | 7 | 100 |  | 100
Profit and loss account |  | ( 52,477 ) |  | 1,451
Total shareholder's (deficit)/funds |  | ( 52,377) |  | 1,551

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.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges 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 Profit and Loss Account has not been delivered.

The financial statements of St Vincent Street (497) Limited (registered number: SC616749) were approved and authorised for issue by the Director on 17 October 2025. They were signed on its behalf by:

A Stewart Director |

ST VINCENT STREET (497) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
ST VINCENT STREET (497) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

##### 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

St Vincent Street (497) 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 C/O Johnston Carmichael, 227 West George Street, Glasgow, G2 2ND, 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The Company is supported through loans from their related parties. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the related parties will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met 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.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### 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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### 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, other than investment property and freehold land, 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:

Land and buildings | 25 % reducing balance
Plant and machinery etc. | 25 % reducing balance

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 Profit and Loss Account 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.
The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised 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 Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an 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). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
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. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

##### 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, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 the director | 1 |  | 1

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery etc. |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 January 2024 | 43,825 |  | 32,987 |  | 76,812
Additions | 32,911 |  | 23,139 |  | 56,050
At 31 December 2024 | 76,736 |  | 56,126 |  | 132,862
Accumulated depreciation |  |  |  |  |
At 01 January 2024 | 17,262 |  | 3,306 |  | 20,568
Charge for the financial year | 12,767 |  | 5,588 |  | 18,355
At 31 December 2024 | 30,029 |  | 8,894 |  | 38,923
Net book value |  |  |  |  |
At 31 December 2024 | 46,707 |  | 47,232 |  | 93,939
At 31 December 2023 | 26,563 |  | 29,681 |  | 56,244

#### 4. Debtors

| 2024 |  | 2023
| £ |  | £
Trade debtors | 4,218 |  | 3,600
Amounts owed by related parties | 3,012 |  | 0
Other debtors | 5,948 |  | 5,350
| 13,178 |  | 8,950

#### 5. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Trade creditors | 3,153 |  | 11,819
Amounts owed to related parties | 70,510 |  | 52,815
Other creditors | 1,667 |  | 1,400
| 75,330 |  | 66,034

#### 6. Creditors: amounts falling due after more than one year

| 2024 |  | 2023
| £ |  | £
Other creditors | 84,971 |  | 20,294

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

#### 7. Called-up share capital

| 2024 |  | 2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100

#### 8. Related party transactions

Transactions with the entity's director

| 2024 |  | 2023
| £ |  | £
Amounts due from Key Management Personnel | 84,971 |  | 20,294

These loans are interest free and have no fixed repayment terms.

Other related party transactions

| 2024 |  | 2023
| £ |  | £
Amounts owed to Related Parties | 70,510 |  | 52,815
Amounts owed by Related Parties | 3,012 |  | 0

These loans are interest free and have no fixed repayment terms.