Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-312022-06-012falseNo 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 2022-06-01 2023-05-31 SC030253 2021-06-01 2022-05-31 SC030253 2023-05-31 SC030253 2022-05-31 SC030253 c:CompanySecretary1 2022-06-01 2023-05-31 SC030253 c:Director1 2022-06-01 2023-05-31 SC030253 c:Director2 2022-06-01 2023-05-31 SC030253 c:RegisteredOffice 2022-06-01 2023-05-31 SC030253 d:Buildings 2022-06-01 2023-05-31 SC030253 d:Buildings 2023-05-31 SC030253 d:Buildings 2022-05-31 SC030253 d:Buildings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC030253 d:Buildings d:ShortLeaseholdAssets 2022-06-01 2023-05-31 SC030253 d:Buildings d:ShortLeaseholdAssets 2023-05-31 SC030253 d:Buildings d:ShortLeaseholdAssets 2022-05-31 SC030253 d:PlantMachinery 2022-06-01 2023-05-31 SC030253 d:PlantMachinery 2023-05-31 SC030253 d:PlantMachinery 2022-05-31 SC030253 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC030253 d:MotorVehicles 2022-06-01 2023-05-31 SC030253 d:MotorVehicles 2023-05-31 SC030253 d:MotorVehicles 2022-05-31 SC030253 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC030253 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC030253 d:CurrentFinancialInstruments 2023-05-31 SC030253 d:CurrentFinancialInstruments 2022-05-31 SC030253 d:Non-currentFinancialInstruments 2023-05-31 SC030253 d:Non-currentFinancialInstruments 2022-05-31 SC030253 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 SC030253 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 SC030253 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 SC030253 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 SC030253 d:ShareCapital 2023-05-31 SC030253 d:ShareCapital 2022-05-31 SC030253 d:OtherMiscellaneousReserve 2023-05-31 SC030253 d:OtherMiscellaneousReserve 2022-05-31 SC030253 d:RetainedEarningsAccumulatedLosses 2023-05-31 SC030253 d:RetainedEarningsAccumulatedLosses 2022-05-31 SC030253 c:OrdinaryShareClass1 2022-06-01 2023-05-31 SC030253 c:OrdinaryShareClass1 2023-05-31 SC030253 c:OrdinaryShareClass1 2022-05-31 SC030253 c:FRS102 2022-06-01 2023-05-31 SC030253 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 SC030253 c:FullAccounts 2022-06-01 2023-05-31 SC030253 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 SC030253 4 2023-05-31 SC030253 4 2022-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC030253










CAIRNESS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

 
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 2023

2023
2022
£
£

FIXED ASSETS
  

Tangible assets
 4 
1,622,211
1,356,952

Investments
 5 
250
50

  
1,622,461
1,357,002

CURRENT ASSETS
  

Stocks
  
2,291,102
349,065

Debtors: amounts falling due within one year
 6 
22,796
115,922

  
2,313,898
464,987

Creditors: amounts falling due within one year
 7 
(1,788,240)
(525,134)

NET CURRENT ASSETS/(LIABILITIES)
  
 
 
525,658
 
 
(60,147)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
2,148,119
1,296,855

Creditors: amounts falling due after more than one year
 8 
(1,700,444)
(860,359)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(171,177)
(65,363)

  
 
 
(171,177)
 
 
(65,363)

NET ASSETS
  
276,498
371,133


CAPITAL AND RESERVES
  

Called up share capital 
 9 
12,000
12,000

Other reserves
  
14,779
14,779

Profit and loss account
  
249,719
344,354

  
276,498
371,133


Page 1

 
CAIRNESS LIMITED
REGISTERED NUMBER: SC030253

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

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.

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 1 August 2023.




W J Moir Jnr
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CAIRNESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

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 2023

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

AGRICULTURAL 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 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 2023

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 has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
CAIRNESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


TANGIBLE FIXED ASSETS





Heriable property
Property improvements
Plant and machinery
Motor vehicles

£
£
£
£



COST OR VALUATION


At 1 June 2022
744,658
213,489
897,313
37,500


Additions
-
-
292,980
62,172


Disposals
-
-
(29,227)
(32,500)



At 31 May 2023

744,658
213,489
1,161,066
67,172



DEPRECIATION


At 1 June 2022
-
77,529
433,548
24,931


Charge for the year on owned assets
-
6,345
58,394
938


Disposals
-
-
(13,830)
(23,681)



At 31 May 2023

-
83,874
478,112
2,188



NET BOOK VALUE



At 31 May 2023
744,658
129,615
682,954
64,984



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

Total

£



COST OR VALUATION


At 1 June 2022
1,892,960


Additions
355,152


Disposals
(61,727)



At 31 May 2023

2,186,385



DEPRECIATION


At 1 June 2022
536,008


Charge for the year on owned assets
65,677


Disposals
(37,511)



At 31 May 2023

564,174



NET BOOK VALUE



At 31 May 2023
1,622,211



At 31 May 2022
1,356,952

Page 6

 
CAIRNESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


FIXED ASSET INVESTMENTS





Trade investments

£





At 1 June 2022
50


Additions
200






NET BOOK VALUE



At 31 May 2023
250



At 31 May 2022
50

Page 7

 
CAIRNESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

6.


DEBTORS

2023
2022
£
£


Trade debtors
15,602
19,161

Other debtors
7,194
96,761

22,796
115,922



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank loans
375,641
354,808

Other loans
670,712
-

Trade creditors
259,442
122,719

Obligations under finance lease and hire purchase contracts
104,153
36,656

Other creditors
378,292
10,951

1,788,240
525,134



8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
1,503,319
815,488

Other loans
414
-

Net obligations under finance leases and hire purchase contracts
196,711
44,871

1,700,444
860,359



9.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



12,000 (2022 - 12,000) Ordinary shares of £1.00 each
12,000
12,000



Page 8