Company Registration No. SC546446 (Scotland)
Ediston Lions Limited
Unaudited accounts
for the year ended 31 December 2022
Ediston Lions Limited
Unaudited accounts
Contents
Ediston Lions Limited
Company Information
for the year ended 31 December 2022
Directors
Rankin Vallance Laing
Andrew David McKinlay
Daniel O'Neill
Company Number
SC546446 (Scotland)
Registered Office
1 ST. ANDREW SQUARE
EDINBURGH
EH2 2BD
SCOTLAND
Ediston Lions Limited
Statement of financial position
as at 31 December 2022
Debtors
8,001,455
8,011,830
Cash at bank and in hand
8,460
363
Creditors: amounts falling due within one year
(1,012,000)
(1,013,300)
Net current assets
6,997,915
6,998,893
Net assets
6,997,915
6,998,893
Called up share capital
1,000
1,000
Profit and loss account
6,996,915
6,997,893
Shareholders' funds
6,997,915
6,998,893
For the year ending 31 December 2022 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 29 September 2023 and were signed on its behalf by
Rankin Vallance Laing
Director
Company Registration No. SC546446
Ediston Lions Limited
Notes to the Accounts
for the year ended 31 December 2022
Ediston Lions Limited is a private company, limited by shares, registered in Scotland, registration number SC546446. The registered office is 1 ST. ANDREW SQUARE, EDINBURGH, EH2 2BD, 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.
These financial statements have been prepared on a going concern basis. The current economic conditions present increased risks for all businesses. In response to such conditions, the directors have carefully considered these risks, including an assessment of the uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis. Based on this assessment, the directors consider the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business. In addition, the Company?s assets are assessed for recoverability on a regular basis, and the directors consider that the Company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company?s ability to continue as a going concern. Thus they continue to adopt the going concern basis of accounting in preparing these financial statements.
Judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.
* Impairment of debtors
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 8 for carrying amount of debtors.
Ediston Lions Limited
Notes to the Accounts
for the year ended 31 December 2022
Amounts falling due within one year
Amounts falling due after more than one year
Other debtors
8,000,000
8,000,000
5
Creditors: amounts falling due within one year
2022
2021
Trade creditors
540,000
540,000
Other creditors
472,000
472,000
In the prior year the Company sold its investment in Craighead Properties Limited for £15,964,100. A payment in cash of £1,964,100 was received and £14,000,000 is split over three deferred payments. The first deferred payment of £2,500,000 is due on the second anniversary of the sale date. The second deferred payment of £5,500,000 is due on the third anniversary of the sale date. The third deferred payment of £6,000,000 is due on the fourth anniversary of the sale date. The total deferred payment included within other debtors is £8,000,000 as the share purchase agreement states there is a contingent liability of £6,000,000 which if claimed can be netted-off against the deferred payments.
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Average number of employees
During the year the average number of employees was 3 (2021: 4).