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2020-12-01
Sage Accounts Production Advanced 2020 - FRS102_2019
25,103
118
321,605
321,605
321,605
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xbrli:shares
iso4217:GBP
SC581032
2020-12-01
2021-11-30
SC581032
2021-11-30
SC581032
2019-12-01
2020-11-30
SC581032
2020-11-30
SC581032
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2020-12-01
2021-11-30
SC581032
bus:Director1
2020-12-01
2021-11-30
SC581032
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2020-12-01
2021-11-30
SC581032
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2021-11-30
SC581032
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2020-11-30
SC581032
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2020-12-01
2021-11-30
SC581032
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2020-11-30
SC581032
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2019-11-30
SC581032
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2021-11-30
SC581032
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2020-11-30
SC581032
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2021-11-30
SC581032
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2020-11-30
SC581032
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2021-11-30
SC581032
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2021-11-30
SC581032
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2020-11-30
SC581032
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2020-12-01
2021-11-30
SC581032
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2020-12-01
2021-11-30
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2020-12-01
2021-11-30
SC581032
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2020-12-01
2021-11-30
COMPANY REGISTRATION NUMBER:
SC581032
Unaudited Financial Statements
|
|
Year ended 30 November 2021
Statement of income and retained earnings
|
2
|
|
|
Statement of financial position
|
3
|
|
|
Notes to the financial statements
|
4
|
|
|
Year ended 30 November 2021
The directors present their report and the unaudited financial statements of the company for the year ended
30 November 2021
.
Principal activities
The principal activity of the company during the year was activity of holding company.
Directors
The directors who served the company during the year were as follows:
Mr S A Ross
|
|
Mr C D Thornton
|
|
|
|
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
17 August 2022
and signed on behalf of the board by:
Registered office:
|
Unit 4
|
Gemini Crescent
|
Dundee Technology Park
|
Dundee
|
Scotland
|
DD2 1SW
|
|
Statement of Income and Retained Earnings
|
|
Year ended 30 November 2021
|
2021
|
2020
|
Note
|
£
|
£
|
Turnover
|
1,000
|
1,000
|
|
|
|
|
-------
|
-------
|
Gross profit
|
1,000
|
1,000
|
|
|
|
Administrative expenses
|
873
|
855
|
|
-------
|
-------
|
Operating profit
|
127
|
145
|
|
|
|
Income from shares in group undertakings
|
25,000
|
–
|
Other interest receivable and similar income
|
4
|
–
|
1
|
|
--------
|
-------
|
Profit before taxation
|
25,127
|
146
|
|
|
|
|
Tax on profit
|
24
|
28
|
|
--------
|
----
|
Profit for the financial year and total comprehensive income
|
25,103
|
118
|
|
--------
|
----
|
|
|
|
Dividends paid and payable
|
(
25,000)
|
–
|
|
|
|
Retained earnings at the start of the year
|
507
|
389
|
|
--------
|
----
|
Retained earnings at the end of the year
|
610
|
507
|
|
--------
|
----
|
|
|
|
All the activities of the company are from continuing operations.
Statement of Financial Position
|
|
30 November 2021
Fixed assets
Investments
|
5
|
|
321,605
|
321,605
|
|
|
|
|
|
Current assets
Debtors
|
6
|
29,594
|
|
3,594
|
Cash at bank and in hand
|
213
|
|
114
|
|
--------
|
|
-------
|
|
29,807
|
|
3,708
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
350,714
|
|
324,718
|
|
---------
|
|
---------
|
Net current liabilities
|
|
320,907
|
321,010
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
698
|
595
|
|
|
----
|
----
|
Net assets
|
|
698
|
595
|
|
|
----
|
----
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
88
|
88
|
Profit and loss account
|
|
610
|
507
|
|
|
----
|
----
|
Shareholders funds
|
|
698
|
595
|
|
|
----
|
----
|
|
|
|
|
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 30 November 2021 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
17 August 2022
, and are signed on behalf of the board by:
Company registration number:
SC581032
Notes to the Financial Statements
|
|
Year ended 30 November 2021
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Unit 4, Gemini Crescent, Dundee Technology Park, Dundee, DD2 1SW, Scotland.
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.
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 changes in fair value being recognised in profit or loss.
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.
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.
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.
4.
Other interest receivable and similar income
|
2021
|
2020
|
|
£
|
£
|
Interest on cash and cash equivalents
|
–
|
1
|
|
----
|
----
|
|
|
|
5.
Investments
|
Shares in group undertakings
|
|
£
|
Cost
|
|
At 1 December 2020 and 30 November 2021
|
321,605
|
|
---------
|
Impairment
|
|
At 1 December 2020 and 30 November 2021
|
–
|
|
---------
|
|
|
Carrying amount
|
|
At 30 November 2021
|
321,605
|
|
---------
|
At 30 November 2020
|
321,605
|
|
---------
|
|
|
6.
Debtors
|
2021
|
2020
|
|
£
|
£
|
Trade debtors
|
4,500
|
–
|
Other debtors
|
25,094
|
3,594
|
|
--------
|
-------
|
|
29,594
|
3,594
|
|
--------
|
-------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2021
|
2020
|
|
£
|
£
|
Trade creditors
|
–
|
15
|
Corporation tax
|
24
|
28
|
Other creditors
|
350,690
|
324,675
|
|
---------
|
---------
|
|
350,714
|
324,718
|
|
---------
|
---------
|
|
|
|
8.
Directors' advances, credits and guarantees
There are no directors’ advances, credits and guarantees such as are required to be disclosed.