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Registration number: SC355101

CFT Land Securities Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

CFT Land Securities Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

CFT Land Securities Ltd

Company Information

Director

Mr Warren Edward Crawford

Registered office

22 Dalmarnock Road
Glasgow
Lanarkshire
G40 4AA

Accountants

Clyde Business Services
159 King Street
Glasgow
Lanarkshire
G73 1BZ

 

CFT Land Securities Ltd

(Registration number: SC355101)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

10,000

10,000

Current assets

 

Cash at bank and in hand

 

1,084

1,939

Creditors: Amounts falling due within one year

5

(3,648)

(3,648)

Net current liabilities

 

(2,564)

(1,709)

Net assets

 

7,436

8,291

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

7,434

8,289

Shareholders' funds

 

7,436

8,291

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 22 September 2023
 

.........................................
Mr Warren Edward Crawford
Director

 

CFT Land Securities Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
22 Dalmarnock Road
Glasgow
Lanarkshire
G40 4AA
Scotland

The principal place of business is:
22 Dalmarnock Road
Glasgow
Lanarkshire
G40 4AA
Scotland

These financial statements were authorised for issue by the director on 22 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

CFT Land Securities Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 March 2022

10,000

10,000

At 28 February 2023

10,000

10,000

Depreciation

Carrying amount

At 28 February 2023

10,000

10,000

At 28 February 2022

10,000

10,000

Included within the net book value of land and buildings above is £10,000 (2022 - £10,000) in respect of freehold land and buildings.
 

 

CFT Land Securities Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

3,648

3,648

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2