Company Registration No. SC323996 (Scotland)
Gainburn Limited
Unaudited accounts
for the year ended 31 May 2023
Gainburn Limited
Unaudited accounts
Contents
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
Gainburn Limited
Statement of financial position
as at 31 May 2023
Tangible assets
403,625
414,749
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)
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
Gainburn Limited
Notes to the Accounts
for the year ended 31 May 2023
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.
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.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
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
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
Charge for the year
11,124
Gainburn Limited
Notes to the Accounts
for the year ended 31 May 2023
Amounts falling due within one year
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
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
292,730
324,896
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).