IRIS Accounts Production v23.3.0.418 SC490890 Board of Directors 1.6.22 31.5.23 31.5.23 false true false false true false 19900 32936 52836 19900 19900 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4908902022-05-31SC4908902023-05-31SC4908902022-06-012023-05-31SC4908902021-05-31SC4908902021-06-012022-05-31SC4908902022-05-31SC490890ns10:Originalns15:Scotland2022-06-012023-05-31SC490890ns14:PoundSterlingns10:Original2022-06-012023-05-31SC490890ns10:Originalns10:Director12022-06-012023-05-31SC490890ns10:Original2022-06-012023-05-31SC490890ns10:Original2023-05-31SC490890ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-31SC490890ns10:Originalns10:SmallEntities2022-06-012023-05-31SC490890ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-31SC490890ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-31SC490890ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-31SC490890ns10:Originalns10:FullAccounts2022-06-012023-05-31SC490890ns10:Original42ns10:Director22022-05-31SC490890ns10:Original42ns10:Director22021-05-31SC490890ns10:Original42ns10:Director22021-06-012022-05-31SC490890ns10:Original42ns10:Director22023-05-31SC490890ns10:Original42ns10:Director22022-05-31SC490890ns10:Originalns10:Director22022-06-012023-05-31SC490890ns10:Originalns10:RegisteredOffice2022-06-012023-05-31SC490890ns10:Original2022-05-31SC490890ns10:Originalns5:CurrentFinancialInstruments2023-05-31SC490890ns10:Originalns5:CurrentFinancialInstruments2022-05-31SC490890ns10:Originalns5:Non-currentFinancialInstruments2023-05-31SC490890ns10:Originalns5:Non-currentFinancialInstruments2022-05-31SC490890ns5:ShareCapitalns10:Original2023-05-31SC490890ns5:ShareCapitalns10:Original2022-05-31SC490890ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-31SC490890ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-31SC490890ns10:Original2021-06-012022-05-31SC490890ns10:Originalns5:FurnitureFittings2022-05-31SC490890ns10:Originalns5:FurnitureFittings2022-06-012023-05-31SC490890ns10:Originalns5:FurnitureFittings2023-05-31SC490890ns10:Originalns5:FurnitureFittings2022-05-31SC490890ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-31SC490890ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-31SC490890ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-05-31SC490890ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-05-31SC490890ns10:Original1ns10:Director12022-05-31SC490890ns10:Original1ns10:Director12021-05-31SC490890ns10:Original1ns10:Director12022-06-012023-05-31SC490890ns10:Original1ns10:Director12021-06-012022-05-31SC490890ns10:Original1ns10:Director12023-05-31SC490890ns10:Original1ns10:Director12022-05-31
REGISTERED NUMBER: SC490890 (Scotland)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

CRAIGDON MOUNTAIN SPORTS (INVERURIE)
LIMITED

CRAIGDON MOUNTAIN SPORTS (INVERURIE)
LIMITED (REGISTERED NUMBER: SC490890)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


CRAIGDON MOUNTAIN SPORTS (INVERURIE)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mr M Bruce
Mrs M Bruce





REGISTERED OFFICE: 28 Broad Street
Peterhead
Aberdeenshire
AB42 1BY





REGISTERED NUMBER: SC490890 (Scotland)





ACCOUNTANTS: Bain Henry Reid
28 Broad Street
Peterhead
Aberdeenshire
AB42 1BY

CRAIGDON MOUNTAIN SPORTS (INVERURIE)
LIMITED (REGISTERED NUMBER: SC490890)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,940 7,920

CURRENT ASSETS
Stocks 587,912 536,476
Debtors 5 20,899 40,095
Cash in hand 1,077 1,077
609,888 577,648
CREDITORS
Amounts falling due within one year 6 466,937 364,820
NET CURRENT ASSETS 142,951 212,828
TOTAL ASSETS LESS CURRENT
LIABILITIES

148,891

220,748

CREDITORS
Amounts falling due after more than one year 7 33,106 57,058
NET ASSETS 115,785 163,690

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 115,685 163,590
SHAREHOLDERS' FUNDS 115,785 163,690

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





Mr M Bruce - Director


CRAIGDON MOUNTAIN SPORTS (INVERURIE)
LIMITED (REGISTERED NUMBER: SC490890)

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


1. STATUTORY INFORMATION

Craigdon Mountain Sports (Inverurie) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 the cost less estimated residual value of each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future, and therefore continue to adopt the going concern basis of accounting in preparing the financial statements

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 23 ) .

CRAIGDON MOUNTAIN SPORTS (INVERURIE)
LIMITED (REGISTERED NUMBER: SC490890)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2022
and 31 May 2023 17,834
DEPRECIATION
At 1 June 2022 9,914
Charge for year 1,980
At 31 May 2023 11,894
NET BOOK VALUE
At 31 May 2023 5,940
At 31 May 2022 7,920

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 20,899 18,845
Prepayments - 21,250
20,899 40,095

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 74,601 84,327
Bank loans 25,118 25,118
Trade creditors 307,271 179,992
Taxation - 12,393
Social security and other taxes 3,762 6,321
VAT 10,036 14,552
Other creditors 22,649 18,617
Director's loan account 19,900 19,900
Accruals and deferred income 3,600 3,600
466,937 364,820

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 33,106 57,058

CRAIGDON MOUNTAIN SPORTS (INVERURIE)
LIMITED (REGISTERED NUMBER: SC490890)

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


8. DIRECTORS LOAN

The following advances and credits (to)/from directors subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Mr M Bruce and Mrs M Bruce
Balance outstanding at start of year 19,900 (32,936 )
Amounts advanced - 52,836
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,900 19,900

The loan is interest free and there are no fixed terms of repayment.

9. DIVIDENDS PAID TO DIRECTORS

Ordinary dividends paid to directors in their capacity as shareholders during the year included £15,000 to Mr M Bruce (2022 £15,000) and £14,400 to Mrs M Bruce (2022 £14,400).

10. ULTIMATE CONTROLLING PARTY

Mr & Mrs Bruce, directors, control the company by virtue of a 100% controlling interest in issued share capital of the company.