Company Registration No. SC775904 (Scotland)
Melscot Ventures Ltd
Unaudited accounts
for the year ended 31 July 2025
Melscot Ventures Ltd
Unaudited accounts
Contents
Melscot Ventures Ltd
Company Information
for the year ended 31 July 2025
Directors
Melissa Grace Duthie
Scott Duthie
Company Number
SC775904 (Scotland)
Registered Office
Clyde Offices 2nd Floor
48 West George Street
Glasgow
G2 1BP
Scotland
Melscot Ventures Ltd
Statement of financial position
as at 31 July 2025
Tangible assets
1,075
1,536
Investment property
515,001
80,000
Cash at bank and in hand
2,981
41,205
Creditors: amounts falling due within one year
(295,820)
(144,165)
Net current liabilities
(263,908)
(96,587)
Total assets less current liabilities
252,168
(15,051)
Creditors: amounts falling due after more than one year
(236,267)
-
Provisions for liabilities
Deferred tax
(7,357)
(1,389)
Net assets/(liabilities)
8,544
(16,440)
Called up share capital
1
1
Fair value reserve
130,460
5,920
Profit and loss account
(121,917)
(22,361)
Shareholders' funds
8,544
(16,440)
For the year ending 31 July 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2026 and were signed on its behalf by
Scott Duthie
Director
Company Registration No. SC775904
Melscot Ventures Ltd
Notes to the Accounts
for the year ended 31 July 2025
Melscot Ventures Ltd is a private company, limited by shares, registered in Scotland, registration number SC775904. The registered office is Clyde Offices 2nd Floor, 48 West George Street, Glasgow, G2 1BP, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Straight Line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 accounts. 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 company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Melscot Ventures Ltd
Notes to the Accounts
for the year ended 31 July 2025
The directors continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future.
The directors fully understand and acknowledge the financial position of the business and believe that no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements.
4
Tangible fixed assets
Computer equipment
Fair value at 1 August 2024
80,000
Net gain from fair value adjustments
153,753
The historic cost of the above investment properties totals £353,938. The fair value of the properties has been arrived at by the director of the company on 31 July 2025 on a market value basis.
Amounts falling due within one year
Amounts due from group undertakings etc.
28,501
-
Accrued income and prepayments
-
6,373
Melscot Ventures Ltd
Notes to the Accounts
for the year ended 31 July 2025
7
Creditors: amounts falling due within one year
2025
2024
Other creditors
46,663
45,902
Loans from directors
243,209
98,167
At the balance sheet date, Together Finance hold floating and other charges over properties owned by the company.
8
Creditors: amounts falling due after more than one year
2025
2024
At the balance sheet date, Foundation Home Loans hold floating and other charges over properties owned by the company.
9
Transactions with related parties
During the year, the company received a loan from a director. The loan carries an interest rate of 10% per annum, with interest payments made every two months. The loan is repayable on demand and operates on a rolling basis.
As at the balance sheet date, the amount outstanding on this loan was £243,209 (2024: £98,167). During the year, interest payments of £6,135 (2024: £3,682) were made to the director in respect of this loan.
Intercompany loan
At the balance sheet date, £28,501 (2024: nil) was receivable from Melscot Trading Ltd, a fellow subsidiary of the company. The loan is interest-free, unsecured, and repayable on demand.
The company is a subsidiary of Melscot Group Ltd, a company registered in Scotland. The registered office address, which is also the principal place of business, is:
Clyde Offices, 2nd Floor
48 West George Street
Glasgow, Scotland
G2 1BP
11
Average number of employees
During the year the average number of employees was 1 (2024: 1).