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REGISTERED NUMBER: SC493697 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Culnacraig Ltd

Culnacraig Ltd (Registered number: SC493697)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Culnacraig Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: N Watson





REGISTERED OFFICE: 33 Laird Street
Coatbridge
ML5 3LW





REGISTERED NUMBER: SC493697 (Scotland)





ACCOUNTANTS: cbs (Scotland) Ltd
33 Laird Street
Coatbridge
Lanarkshire
ML5 3LW

Culnacraig Ltd (Registered number: SC493697)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Investments 4 610,308 423,398
Investment property 5 1,508,827 1,498,677
2,119,135 1,922,075

CURRENT ASSETS
Debtors 6 821,860 686,617
Cash at bank 239,913 151,142
1,061,773 837,759
CREDITORS
Amounts falling due within one year 7 (70,552 ) (69,536 )
NET CURRENT ASSETS 991,221 768,223
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,110,356

2,690,298

CAPITAL AND RESERVES
Called up share capital 1,005 1,005
Retained earnings 3,109,351 2,689,293
SHAREHOLDERS' FUNDS 3,110,356 2,690,298

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

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

The director acknowledges his 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 director and authorised for issue on 17 November 2023 and were signed by:





N Watson - Director


Culnacraig Ltd (Registered number: SC493697)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Culnacraig Ltd 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.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

Culnacraig Ltd (Registered number: SC493697)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. FIXED ASSET INVESTMENTS
Interest
in other
participating Other
interests investments Totals
£    £    £   
COST
At 1 April 2022 57,580 365,818 423,398
Additions - 219,160 219,160
Disposals - (32,250 ) (32,250 )
At 31 March 2023 57,580 552,728 610,308
NET BOOK VALUE
At 31 March 2023 57,580 552,728 610,308
At 31 March 2022 57,580 365,818 423,398

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,498,677
Additions 10,150
At 31 March 2023 1,508,827
NET BOOK VALUE
At 31 March 2023 1,508,827
At 31 March 2022 1,498,677

The fair value of the properties at 31 March 2023 have been arrived at on the basis of a valuation carried out at that date by a director of the company who is not a professionally qualified valuer. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in their location.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 821,860 686,617

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 1 -
Taxation and social security 8,751 7,239
Other creditors 61,800 62,297
70,552 69,536

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The company owed the directors £Nil (2022 - £797) at the year end.

Culnacraig Ltd (Registered number: SC493697)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. RELATED PARTY DISCLOSURES

At the year end the director owed the company £3,360. He has confirmed this will be repaid within 9 months of the year end.

10. ULTIMATE CONTROLLING PARTY

The controlling party is N Watson.