Company registration number SC015885 (Scotland)
NEW PICTURE HOUSE (ST. ANDREWS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
PAGES FOR FILING WITH REGISTRAR
NEW PICTURE HOUSE (ST. ANDREWS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
NEW PICTURE HOUSE (ST. ANDREWS) LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2025
31 October 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
399
532
Investment properties
4
1,675,000
1,675,000
1,675,399
1,675,532
Current assets
Debtors
5
54,602
13,942
Cash at bank and in hand
1,588,952
2,782,171
1,643,554
2,796,113
Creditors: amounts falling due within one year
6
(38,963)
(987,571)
Net current assets
1,604,591
1,808,542
Total assets less current liabilities
3,279,990
3,484,074
Provisions for liabilities
(403,856)
(403,890)
Net assets
2,876,134
3,080,184
Capital and reserves
Called up share capital
12,000
12,000
Fair value reserve
7
1,224,522
1,224,522
Capital redemption reserve
51,133
51,133
Profit and loss reserves
1,588,479
1,792,529
Total equity
2,876,134
3,080,184

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

NEW PICTURE HOUSE (ST. ANDREWS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2025
31 October 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 March 2026 and are signed on its behalf by:
David Morris
Donald Stewart
Director
Director
Company Registration No. SC015885
NEW PICTURE HOUSE (ST. ANDREWS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 3 -
1
Accounting policies
Company information

New Picture House (St. Andrews) Limited is a private company limited by shares incorporated in Scotland. The registered office is 117 North Street, St Andrews, Fife, KY16 9AD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value.

The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the value of sales to patrons and advertisers, net of value added tax. Revenue is recognised when the goods and services are provided.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
20% on straight line basis

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.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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).

1.6
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

NEW PICTURE HOUSE (ST. ANDREWS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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. Investments are measured at fair value where a current value is obtainable, and gains and losses are taken to the profit and loss account.

Classification of financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors are classified as debt, and are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

NEW PICTURE HOUSE (ST. ANDREWS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 5 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
13
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2024 and 31 October 2025
666
Depreciation and impairment
At 1 November 2024
134
Depreciation charged in the year
133
At 31 October 2025
267
Carrying amount
At 31 October 2025
399
At 31 October 2024
532
NEW PICTURE HOUSE (ST. ANDREWS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 6 -
4
Investment property
2025
£
Fair value
At 1 November 2024 and 31 October 2025
1,675,000

In accordance with FRS102 investment properties are required to be shown at fair value. The fair value has been determined by valuations carried out by the directors at 31 October 20 24 and they believe there has been no material change in value at date of signing.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Prepayments
41,502
109
Other debtors
13,100
13,833
54,602
13,942
6
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
33,854
495,596
Other taxation and social security
3,268
458,200
Other creditors
1,841
33,775
38,963
987,571
NEW PICTURE HOUSE (ST. ANDREWS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 7 -
7
Fair value reserve
2025
2024
£
£
At beginning of year
1,224,522
1,115,772
Revaluation surplus arising in the year
-
0
145,000
Adjustment to deferred tax rate - investments
-
(36,250)
At end of year
1,224,522
1,224,522
The fair value reserve represents unrealised gains and is not, therefore, available for distribution.
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