St Giles Shopping Centre Holdings Limite - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC436528 (Scotland)

Unaudited Financial Statements for the Year Ended 30th April 2023

for

St Giles Shopping Centre Holdings

Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

Director:

D J Cameron

Registered office:

First Floor

111 Grampian Road

Aviemore

PH22 1RH

Registered number:

SC436528 (Scotland)

Accountants:

Frame Kennedy

4th Floor Metropolitan House

31-33 High Street

Inverness

IV1 1HT

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of St Giles Shopping Centre Holdings Limited for the year ended 30th April 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of St Giles Shopping Centre Holdings Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of St Giles Shopping Centre Holdings Limited and state those matters that we have agreed to state to the director of St Giles Shopping Centre Holdings Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that St Giles Shopping Centre Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of St Giles Shopping Centre Holdings Limited. You consider that St Giles Shopping Centre Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of St Giles Shopping Centre Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Frame Kennedy

4th Floor Metropolitan House

31-33 High Street

Inverness

IV1 1HT

26th January 2024

Fixed assets

Tangible assets

4

1,400,000

1,400,000

Investments

5

2

2

1,400,002

1,400,002

Current assets

Debtors

6

82,142

76,273

Cash at bank

35,766

79,762

117,908

156,035

Creditors

Amounts falling due within one year

7

4,505,012

933,742

Net current liabilities

(4,387,104

)

(777,707

)

Total assets less current liabilities

(2,987,102

)

622,295

Creditors

Amounts falling due after more than one year

8

-

3,361,053

Net liabilities

(2,987,102

)

(2,738,758

)

Capital and reserves

Called up share capital

100

100

Revaluation reserve

9

(5,039,806

)

(5,039,806

)

Retained earnings

2,052,604

2,300,948

(2,987,102

)

(2,738,758

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26th January 2024 and were signed by:

D J Cameron - Director

1.	Statutory information

St Giles Shopping Centre Holdings Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

No depreciation

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Fair value

Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.

3.	Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

4.	Tangible fixed assets

Land and

buildings

£

Cost

At 1st May 2022

and 30th April 2023

1,400,000

Net book value

At 30th April 2023

1,400,000

At 30th April 2022

1,400,000

Included in land and buildings are investment properties valued at £1,400,000 (2022 - £1,400,000) with a historic cost of £6,439,806. Investment properties were valued on an open market basis at 30th April 2023 by the director

Investment property

Fixed asset investments are initially recorded at cost, 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.

5.	Fixed asset investments

Investment

In

Subsidiaries

£

At 1st May 2022

and 30th April 2023

2

6.

Debtors: amounts falling due within one year

2023

2022

£

£

Trade debtors

6,318

16,561

Other debtors

75,824

59,712

82,142

76,273

7.

Creditors: amounts falling due within one year

2023

2022

£

£

Bank loans and overdrafts

3,361,053

-

Trade creditors

233,690

195,071

Taxation and social security

25,793

30,300

Other creditors

884,476

708,371

4,505,012

933,742

8.

Creditors: amounts falling due after more than one year

2023

2022

£

£

Bank loans

-

3,361,053

9.

Reserves

Revaluation

reserve

£

At 1st May 2022

and 30th April 2023

(5,039,806

)