Speyroc Eglinton Limited Filleted accounts for Companies House (small and micro)

SPEYROC EGLINTON LIMITED - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 506,676 635 507,311 507,311 506,676 xbrli:pure xbrli:shares iso4217:GBP SC521891 2022-01-01 2022-12-31 SC521891 2022-12-31 SC521891 2021-12-31 SC521891 2021-01-01 2021-12-31 SC521891 2021-12-31 SC521891 bus:Director2 2022-01-01 2022-12-31 SC521891 core:WithinOneYear 2022-12-31 SC521891 core:WithinOneYear 2021-12-31 SC521891 core:ShareCapital 2022-12-31 SC521891 core:ShareCapital 2021-12-31 SC521891 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC521891 core:RetainedEarningsAccumulatedLosses 2021-12-31 SC521891 bus:SmallEntities 2022-01-01 2022-12-31 SC521891 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 SC521891 bus:FullAccounts 2022-01-01 2022-12-31 SC521891 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 SC521891 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 SC521891 core:ConstructionInProgressAssetsUnderConstruction 2021-12-31 SC521891 core:ConstructionInProgressAssetsUnderConstruction 2022-01-01 2022-12-31 SC521891 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 SC521891 core:KeyManagementIndividualGroup1 2022-01-01 2022-12-31 SC521891 core:KeyManagementIndividualGroup1 2022-12-31 SC521891 core:EntitiesControlledByKeyManagementPersonnel 2022-01-01 2022-12-31 SC521891 core:EntitiesControlledByKeyManagementPersonnel 2022-12-31

COMPANY REGISTRATION NUMBER: SC521891

Speyroc Eglinton Limited

Filleted Unaudited Financial Statements

31 December 2022

Speyroc Eglinton Limited

Statement of Financial Position

31 December 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	4	507,311	506,676

Current assets

Cash at bank and in hand	22,935	2,246

Creditors: amounts falling due within one year	5	572,212	534,708
		---------	---------
Net current liabilities		549,277	532,462
		---------	---------
Total assets less current liabilities		( 41,966)	( 25,786)
		--------	--------
Net liabilities		( 41,966)	( 25,786)
		--------	--------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	( 42,966)	( 26,786)
	--------	--------
Shareholders deficit	( 41,966)	( 25,786)
	--------	--------

These financial statements have been prepared and delivered 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'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

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.

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 18 September 2023 , and are signed on behalf of the board by:

Mr A V Haig

Director

Company registration number: SC521891

Speyroc Eglinton Limited

Notes to the Financial Statements

Year ended 31 December 2022

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Block 6 Kelvin Campus, West of Scotland Science Park, Maryhill Road, Glasgow, G20 0SP.

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.

Going concern

The company's total liabilities exceeded its total assets by £41,966 (2021 - £25,786). The majority of the company's liabilities consist of a loan due to the director who has confirmed he will continue to support the company for at least the next 12 months. On this basis, the director considers it appropriate to prepare the accounts on the going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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.

4. Tangible assets

	Assets under construction
	£
Cost
At 1 January 2022	506,676
Additions	635
	---------
At 31 December 2022	507,311
	---------
Depreciation
At 1 January 2022 and 31 December 2022	–
	---------
Carrying amount
At 31 December 2022	507,311
	---------
At 31 December 2021	506,676
	---------

5. Creditors: amounts falling due within one year

	2022	2021
	£	£
Social security and other taxes	405	67
Other creditors	6,000	8,487
Other creditors	565,807	526,154
	---------	---------
	572,212	534,708
	---------	---------

6. Related party transactions

At 31 December 2022 the company was due one (2021 - one) director £ 564,937 (2021 - £464,924). This loan is interest free and has no definite terms of repayment . At 31 December 2022 the company was due £ 6,000 (2021 - £8,486) from a company in which the directors are also directors and shareholders . This loan is interest free and has no definite terms of repayment.