Caseware UK (AP4) 2021.0.152 2021.0.152 2022-05-312022-05-3122021-06-01falseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC030253 2021-06-01 2022-05-31 SC030253 2020-06-01 2021-05-31 SC030253 2022-05-31 SC030253 2021-05-31 SC030253 c:CompanySecretary1 2021-06-01 2022-05-31 SC030253 c:Director1 2021-06-01 2022-05-31 SC030253 c:Director2 2021-06-01 2022-05-31 SC030253 c:RegisteredOffice 2021-06-01 2022-05-31 SC030253 d:Buildings 2021-06-01 2022-05-31 SC030253 d:Buildings 2022-05-31 SC030253 d:Buildings 2021-05-31 SC030253 d:Buildings d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 SC030253 d:Buildings d:ShortLeaseholdAssets 2021-06-01 2022-05-31 SC030253 d:Buildings d:ShortLeaseholdAssets 2022-05-31 SC030253 d:Buildings d:ShortLeaseholdAssets 2021-05-31 SC030253 d:PlantMachinery 2021-06-01 2022-05-31 SC030253 d:PlantMachinery 2022-05-31 SC030253 d:PlantMachinery 2021-05-31 SC030253 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 SC030253 d:MotorVehicles 2021-06-01 2022-05-31 SC030253 d:MotorVehicles 2022-05-31 SC030253 d:MotorVehicles 2021-05-31 SC030253 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 SC030253 d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 SC030253 d:CurrentFinancialInstruments 2022-05-31 SC030253 d:CurrentFinancialInstruments 2021-05-31 SC030253 d:Non-currentFinancialInstruments 2022-05-31 SC030253 d:Non-currentFinancialInstruments 2021-05-31 SC030253 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 SC030253 d:CurrentFinancialInstruments d:WithinOneYear 2021-05-31 SC030253 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 SC030253 d:Non-currentFinancialInstruments d:AfterOneYear 2021-05-31 SC030253 d:ShareCapital 2022-05-31 SC030253 d:ShareCapital 2021-05-31 SC030253 d:OtherMiscellaneousReserve 2022-05-31 SC030253 d:OtherMiscellaneousReserve 2021-05-31 SC030253 d:RetainedEarningsAccumulatedLosses 2022-05-31 SC030253 d:RetainedEarningsAccumulatedLosses 2021-05-31 SC030253 c:OrdinaryShareClass1 2021-06-01 2022-05-31 SC030253 c:OrdinaryShareClass1 2022-05-31 SC030253 c:OrdinaryShareClass1 2021-05-31 SC030253 c:FRS102 2021-06-01 2022-05-31 SC030253 c:AuditExempt-NoAccountantsReport 2021-06-01 2022-05-31 SC030253 c:FullAccounts 2021-06-01 2022-05-31 SC030253 c:PrivateLimitedCompanyLtd 2021-06-01 2022-05-31 SC030253 4 2022-05-31 SC030253 4 2021-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC030253










CAIRNESS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

 
CAIRNESS LIMITED
 

COMPANY INFORMATION


DIRECTORS
W J Moir Jnr 
Mrs G Moir 




COMPANY SECRETARY
Mrs G Moir



REGISTERED NUMBER
SC030253



REGISTERED OFFICE
1 Carden Place

Aberdeen

AB1 1UT




ACCOUNTANTS
EQ Accountants LLP
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
CAIRNESS LIMITED
REGISTERED NUMBER: SC030253

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2022

2022
2021
£
£

FIXED ASSETS
  

Tangible assets
 4 
1,356,952
1,171,173

Investments
 5 
50
50

  
1,357,002
1,171,223

CURRENT ASSETS
  

Stocks
  
349,065
355,759

Debtors: amounts falling due within one year
 6 
115,922
42,872

  
464,987
398,631

Creditors: amounts falling due within one year
 7 
(525,134)
(433,545)

NET CURRENT LIABILITIES
  
 
 
(60,147)
 
 
(34,914)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,296,855
1,136,309

Creditors: amounts falling due after more than one year
 8 
(860,359)
(732,119)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(65,363)
(62,592)

  
 
 
(65,363)
 
 
(62,592)

NET ASSETS
  
371,133
341,598


CAPITAL AND RESERVES
  

Called up share capital 
 9 
12,000
12,000

Other reserves
  
14,779
14,779

Profit and loss account
  
344,354
314,819

  
371,133
341,598


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

Page 1

 
CAIRNESS LIMITED
REGISTERED NUMBER: SC030253

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2022

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 September 2022.




W J Moir Jnr
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CAIRNESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

1.


GENERAL INFORMATION

Cairness Limited is a private limited company limited by shares incorporated in Scotland.  The registered office is 1 Carden Place, Aberdeen, AB1 1UT and the Company's registration number is SC030253.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

REVENUE

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
CAIRNESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

  
2.4

EU SUPPORT SCHEMES

Income from the Basic Payment Scheme is not recognised until 31 December of the relevant scheme year, when all conditions of the scheme have been complied with.
Income received under EU livestock support schemes is recognised as income when the business receives the payment, and not when the business has met all the criteria which entitles it to the income.

 
2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
CAIRNESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

2.ACCOUNTING POLICIES (CONTINUED)


2.5
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Heritable property
-
Nil
Property improvements
-
4% straight line
Plant and machinery
-
12.5% reducing balance
Motor vehicles
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

Page 5

 
CAIRNESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

4.


TANGIBLE FIXED ASSETS





Heriable property
Property improvements
Plant and machinery
Motor vehicles
Total

£
£
£
£
£



COST OR VALUATION


At 1 June 2021
693,468
80,314
828,971
32,500
1,635,253


Additions
51,190
133,175
80,092
5,000
269,457


Disposals
-
-
(11,750)
-
(11,750)



At 31 May 2022

744,658
213,489
897,313
37,500
1,892,960



DEPRECIATION


At 1 June 2021
-
71,184
372,155
20,741
464,080


Charge for the year on owned assets
-
6,345
66,256
4,190
76,791


Disposals
-
-
(4,863)
-
(4,863)



At 31 May 2022

-
77,529
433,548
24,931
536,008



NET BOOK VALUE



At 31 May 2022
744,658
135,960
463,765
12,569
1,356,952



At 31 May 2021
693,468
9,130
456,816
11,759
1,171,173


5.


FIXED ASSET INVESTMENTS





Trade investments

£





At 1 June 2021
50






NET BOOK VALUE



At 31 May 2022
50



At 31 May 2021
50

Page 6

 
CAIRNESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

6.


DEBTORS

2022
2021
£
£


Trade debtors
19,161
21,357

Other debtors
96,761
21,515

115,922
42,872



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022
2021
£
£

Bank loans
354,808
283,170

Trade creditors
122,719
72,477

Obligations under finance lease and hire purchase contracts
36,656
66,251

Other creditors
10,951
11,647

525,134
433,545



8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022
2021
£
£

Bank loans
815,488
683,915

Net obligations under finance leases and hire purchase contracts
44,871
48,204

860,359
732,119



9.


SHARE CAPITAL

2022
2021
£
£
ALLOTTED, CALLED UP AND FULLY PAID



12,000 (2021 - 12,000) Ordinary shares of £1.00 each
12,000
12,000



Page 7