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PAINTED HORSE INVESTMENTS LIMITED
Registration Number SC249228 (Scotland)
Filleted Unaudited Annual Financial Statements
for the year ended 31 May 2025
PAINTED HORSE INVESTMENTS LIMITED
Filleted Annual Financial Statements for the year ended 31 May 2025
BALANCE SHEET
Notes
2025 £
2024 £
Fixed assets
Investments
2
834,750
884,721
Current assets
Cash at bank and in hand
21,748
10,008
Current liabilities
Creditors: amounts falling due within one year
3
701,873
772,432
Net current liabilities
(680,125)
(762,424)
Total assets less current liabilities
154,625
122,297
Net assets
154,625
122,297
Capital and reserves
Called up share capital
4
2
2
Profit and loss account
154,623
122,295
Shareholders' funds
154,625
122,297
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ended 31 May 2025, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its accounts for the year ended 31 May 2025 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The annual financial statements were approved and authorised for issue by the Board of Directors on 9 December 2025.
_______________________
_______________________
A Coates
M Younger
Director
The notes on pages 2 to 4 form part of these annual financial statements.
Company registration number: SC249228
PAINTED HORSE INVESTMENTS LIMITED
Annual Financial Statements for the year ended 31 May 2025
NOTES TO THE FINANCIAL STATEMENTS
1.
Summary of significant accounting policies
1.1
General information
Painted Horse Investments Limited is a private company limited by shares, registered in Scotland. The address of the registered office is given in the company information on page 2 of these annual financial statements.
61 Dublin Street
Edinburgh
Scotland
EH3 6NL
1.2
Statement of compliance and basis of preparation
These annual financial statements have been prepared in accordance with FRS 102 the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland as adapted by Section 1A of FRS 102 and the Companies Act 2006.
1.3
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The annual financial statements are prepared in sterling (£) which is the functional currency of the company and rounded to the nearest £.
1.4
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with chnages in fair value being recognised in profit or loss.
1.5
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
PAINTED HORSE INVESTMENTS LIMITED
Annual Financial Statements for the year ended 31 May 2025
NOTES TO THE FINANCIAL STATEMENTS
1.6
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt in
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
1.7
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
PAINTED HORSE INVESTMENTS LIMITED
Annual Financial Statements for the year ended 31 May 2025
NOTES TO THE FINANCIAL STATEMENTS
2.
Investments
Movement in investments
Other investments other than loans £
Cost or valuation
At 01 June 2024
884,721
Disposals
(73,221)
Revaluations
23,250
At 31 May 2025
834,750
Impairment
At 01 June 2024 and 31 May 2025
-
Carrying amount
At 31 May 2024
884,721
At 31 May 2025
834,750
3.
Creditors: amounts falling due within one year
Creditors: amounts falling due within one year comprise:
2025 £
2024 £
Other creditors
4,829
7,108
Amounts owed to group undertakings
697,044
765,324
701,873
772,432
4.
Called up share capital
2025 Number
2024 Number
Ordinary shares of £1 each
2
2
Alloted, called up and fully paid
2025 £
2024 £
Ordinary shares of £1 each
2
2
5.
Related party transactions
At 31 May 2025 £697,044 (2024: £765,324) was due to Coates Younger Consulting Limited, of which Alasdair D Coates is also a director. This loan has no fixed repayment terms and no interest is payable.
Appendix - Additional XBRL Tags and Values
Accounting standards applied
bus_SmallEntities
Accounts status, audited or unaudited
bus_AuditExemptWithAccountantsReport
Accounts type
bus_FilletedAccounts
Average number of employees during the period
0
Average number of employees during the period
0
Balance sheet date
31 May 2025
Date of auditor's report
0001-01-01
Date of authorisation of financial statements for issue
09 December 2025
Description of principal activities
The company principal activity during the year was that of an investment company.
Director signing Directors' Report
bus_Director1
Director signing financial statements
bus_Director1
End date for period covered by report
31 May 2025
Entity current legal or registered name
Painted Horse Investments Limited
Entity is dormant [true/false]
false
Entity trading status
[default]
Legal form of entity
bus_PrivateLimitedCompanyLtd
Name of entity auditors
CT
Name of entity officer
A Coates
Name of entity officer
M Younger
Name of individual auditor
CT
Name of production software
Draftworx Cloud
Start date for period covered by report
01 June 2024
UK Companies House registered number
SC249228