Scrabo Investments Limited Company accounts

COMPANY REGISTRATION NUMBER: NI004706

Scrabo Investments Limited

Unaudited Financial Statements

31 March 2025

Scrabo Investments Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Directors' report	1

Statement of comprehensive income	2

Statement of financial position	3

Statement of changes in equity	5

Notes to the financial statements	6

Scrabo Investments Limited

Directors' Report

Year ended 31 March 2025

The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2025 .

Directors

The directors who served the company during the year were as follows:

Mr G M McGimpsey	(Appointed 30 November 2024)
Mr CDH McGimpsey	(Appointed 30 November 2024)
Dr CD McGimpsey	(Resigned 30 November 2024)

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 3 July 2026 and signed on behalf of the board by:

Mr G M McGimpsey	Mr CDH McGimpsey
Director	Director

Mr Christopher McGimpsey
Company Secretary

Registered office:

185 Mill Street

Newtownards

Co. Down

BT23 4LN

Scrabo Investments Limited

Statement of Comprehensive Income

Year ended 31 March 2025

	2025	2024
Note	£	£
Turnover	108,406	66,937

Cost of sales	13,093	13,905
	---------	--------
Gross profit	95,313	53,032

Administrative expenses	( 867,710)	30,562
Other operating income	37	–
	---------	--------
Operating profit	963,060	22,470

Other interest receivable and similar income		2,750	–
Interest payable and similar expenses		316	1,272
		---------	--------
Profit before taxation	5	965,494	21,198

Tax on profit	48,834	4,154
	---------	--------
Profit for the financial year	916,660	17,044
	---------	--------

Reclassification from revaluation reserve to profit and loss account	( 134,232)	–
	---------	--------
Total comprehensive income for the year	782,428	17,044
	---------	--------

All the activities of the company are from continuing operations.

Scrabo Investments Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	6	2	2
Tangible assets	7	247,147	746,791
		---------	---------
		247,149	746,793

Current assets

Debtors	8	537,290	40,826
Cash at bank and in hand		831,516	9,671
		------------	--------
		1,368,806	50,497

Creditors: amounts falling due within one year	9	222,476		44,786
		------------		--------
Net current assets			1,146,330	5,711
			------------	---------
Total assets less current liabilities			1,393,479	752,504

Provisions

Taxation including deferred tax	58	61,511
	------------	---------
Net assets	1,393,421	690,993
	------------	---------

Capital and reserves

Called up share capital	100,000	100
Share premium account	( 99,900)	–
Revaluation reserve	66,327	200,559
Reserve for own shares	34,373	34,373
Profit and loss account	1,292,621	455,961
	------------	---------
Shareholders funds	1,393,421	690,993
	------------	---------

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 ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Scrabo Investments Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 3 July 2026 , and are signed on behalf of the board by:

Mr G M McGimpsey	Mr CDH McGimpsey
Director	Director

Company registration number: NI004706

Scrabo Investments Limited

Statement of Changes in Equity

Year ended 31 March 2025

		Called up share capital	Share premium account	Revaluation reserve	Reserve for own shares	Profit and loss account	Total
		£	£	£	£	£	£
At 1 April 2023		100	–	200,559	34,373	438,917	673,949

Profit for the year						17,044	17,044
		----	----	---------	--------	---------	---------
Total comprehensive income for the year		–	–	–	–	17,044	17,044

At 31 March 2024		100	–	200,559	34,373	455,961	690,993

Profit for the year						916,660	916,660
Other comprehensive income for the year:
	Reclassification from revaluation reserve to profit and loss account	–	–	( 134,232)	–	–	( 134,232)
		----	----	---------	--------	---------	---------
Total comprehensive income for the year		–	–	( 134,232)	–	916,660	782,428

Issue of bonus shares		99,900	( 99,900)	–	–	–	–
Dividends paid and payable		–	–	–	–	( 80,000)	( 80,000)
		--------	--------	----	----	--------	--------
Total investments by and distributions to owners		99,900	( 99,900)	–	–	( 80,000)	( 80,000)

		---------	--------	--------	--------	------------	------------
At 31 March 2025		100,000	( 99,900)	66,327	34,373	1,292,621	1,393,421
		---------	--------	--------	--------	------------	------------

Scrabo Investments Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 185 Mill Street, Newtownards, Co. Down, BT23 4LN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

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 financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	15% reducing balance

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

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 impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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 instrument. 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	85	112
	----	----

6. Intangible assets

	Development costs
	£
Cost
At 1 April 2024 and 31 March 2025	2
	----
Amortisation
At 1 April 2024 and 31 March 2025	–
	----
Carrying amount
At 31 March 2025	2
	----
At 31 March 2024	2
	----

7. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost
At 1 April 2024	746,400	142,724	6,809	895,933
Disposals	( 499,559)	–	–	( 499,559)
	---------	---------	-------	---------
At 31 March 2025	246,841	142,724	6,809	396,374
	---------	---------	-------	---------
Depreciation
At 1 April 2024	–	142,455	6,687	149,142
Charge for the year	–	67	18	85
	---------	---------	-------	---------
At 31 March 2025	–	142,522	6,705	149,227
	---------	---------	-------	---------
Carrying amount
At 31 March 2025	246,841	202	104	247,147
	---------	---------	-------	---------
At 31 March 2024	746,400	269	122	746,791
	---------	---------	-------	---------

Investment property was revalued by the directors at 31 March 2019 on the basis of open market value.

8. Debtors

	2025	2024
	£	£
Trade debtors	20,820	8,826
Amounts owed by group undertakings and undertakings in which the company has a participating interest	330,500	32,000
Other debtors	185,970	–
	---------	--------
	537,290	40,826
	---------	--------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	9,540
Corporation tax	224,378	10,302
Social security and other taxes	213,758	16,545
Other creditors	( 215,660)	8,399
	---------	--------
	222,476	44,786
	---------	--------

10. Financial instruments

Where reduced disclosures are applied, disclosures from the Companies Act 2006 still need to be made regarding the fair value of the instruments in each category and the changes in value recognised in profit and loss. Disclosures of the significant assumptions underlying the valuation models and techniques used, and extent and nature of derivative instruments are also required.

11. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr G M McGimpsey	–	81,181	81,181
Dr CD McGimpsey	–	1,000	1,000
	----	--------	--------
	–	82,181	82,181
	----	--------	--------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr G M McGimpsey	–	–	–
Dr CD McGimpsey	–	–	–
	----	----	----
	–	–	–
	----	----	----