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Company Registration No. SC323996 (Scotland)
Gainburn Limited Unaudited accounts for the year ended 31 May 2023
Gainburn Limited Unaudited accounts Contents
Page
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Gainburn Limited Company Information for the year ended 31 May 2023
Directors
A Bashir M Sockalingam
Company Number
SC323996 (Scotland)
Registered Office
91 Grahams Road Falkirk FK2 7DD
Accountants
Assenti & Noble Ltd 18 Mosshead Road Bearsden Glasgow G61 3HN
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Gainburn Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
403,625 
414,749 
Current assets
Debtors
480 
480 
Creditors: amounts falling due within one year
(116,728)
(103,010)
Net current liabilities
(116,248)
(102,530)
Total assets less current liabilities
287,377 
312,219 
Creditors: amounts falling due after more than one year
(292,730)
(324,896)
Net liabilities
(5,353)
(12,677)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(5,355)
(12,679)
Shareholders' funds
(5,353)
(12,677)
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2023 and were signed on its behalf by
A Bashir Director Company Registration No. SC323996
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Gainburn Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Gainburn Limited is a private company, limited by shares, registered in Scotland, registration number SC323996. The registered office is 91 Grahams Road, Falkirk, FK2 7DD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents net rents received, excluding value added tax.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% on cost
Going concern
The balance sheet shows that the company has an excess of liabilities over assets. The accounts have been prepared on a going concern basis assuming the continuing financial support of the company's directors and bankers.
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 June 2022
556,205 
At 31 May 2023
556,205 
Depreciation
At 1 June 2022
141,456 
Charge for the year
11,124 
At 31 May 2023
152,580 
Net book value
At 31 May 2023
403,625 
At 31 May 2022
414,749 
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Gainburn Limited Notes to the Accounts for the year ended 31 May 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
480 
480 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
25,462 
26,578 
Taxes and social security
12,810 
8,483 
Other creditors
65,670 
55,663 
Loans from directors
5,141 
5,141 
Accruals
7,645 
7,145 
116,728 
103,010 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
292,730 
324,896 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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