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REGISTERED NUMBER: SC400823 (Scotland)







Unaudited Financial Statements

For The Year Ended 30th June 2023

for

Canale Residential Ltd.

Canale Residential Ltd. (Registered number: SC400823)






Contents of the Financial Statements
For The Year Ended 30th June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Canale Residential Ltd.

Company Information
For The Year Ended 30th June 2023







DIRECTORS: R Canale
Mrs N R Canale





SECRETARY:





REGISTERED OFFICE: 34 Bellshill Road
Uddingston
Glasgow
Lanarkshire
G71 7LZ





REGISTERED NUMBER: SC400823 (Scotland)





ACCOUNTANTS: J S Mackie & Co Ltd
8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP

Canale Residential Ltd. (Registered number: SC400823)

Balance Sheet
30th June 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 70,961 67,203

CURRENT ASSETS
Debtors 5 500 -
Cash at bank and in hand 174,531 183,595
175,031 183,595
CREDITORS
Amounts falling due within one year 6 (124,537 ) (133,873 )
NET CURRENT ASSETS 50,494 49,722
TOTAL ASSETS LESS CURRENT
LIABILITIES

121,455

116,925

CREDITORS
Amounts falling due after more than one
year

7

(19,265

)

(29,033

)
NET ASSETS 102,190 87,892

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 102,188 87,890
SHAREHOLDERS' FUNDS 102,190 87,892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

Canale Residential Ltd. (Registered number: SC400823)

Balance Sheet - continued
30th June 2023


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 8th February 2024 and were signed on its behalf by:





Mrs N R Canale - Director


Canale Residential Ltd. (Registered number: SC400823)

Notes to the Financial Statements
For The Year Ended 30th June 2023

1. STATUTORY INFORMATION

Canale Residential 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 5 ) .

Canale Residential Ltd. (Registered number: SC400823)

Notes to the Financial Statements - continued
For The Year Ended 30th June 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1st July 2022 65,000 18,494 83,494
Additions - 5,310 5,310
At 30th June 2023 65,000 23,804 88,804
DEPRECIATION
At 1st July 2022 - 16,291 16,291
Charge for year - 1,552 1,552
At 30th June 2023 - 17,843 17,843
NET BOOK VALUE
At 30th June 2023 65,000 5,961 70,961
At 30th June 2022 65,000 2,203 67,203

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 500 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 10,648 10,648
Trade creditors 71,783 83,963
Taxation and social security 32,463 22,056
Other creditors 9,643 17,206
124,537 133,873

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Other creditors 19,265 29,033