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REGISTERED NUMBER: SC557131 (Scotland)















CAMPBELL HOMES CUMNOCK LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2023






CAMPBELL HOMES CUMNOCK LIMITED (REGISTERED NUMBER: SC557131)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CAMPBELL HOMES CUMNOCK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTORS: K Lennox
H McSeveney
K Miller





REGISTERED OFFICE: 54 Glaisnock Street
Cumnock
Ayrshire
KA18 1BY





REGISTERED NUMBER: SC557131 (Scotland)





ACCOUNTANTS: JRD Partnership Ltd
Chartered Accountants
11 Portland Road
Kilmarnock
Ayrshire
KA1 2BT

CAMPBELL HOMES CUMNOCK LIMITED (REGISTERED NUMBER: SC557131)

BALANCE SHEET
28TH FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,958 28,364

CURRENT ASSETS
Stocks 36,750 36,750
Debtors 5 964,378 956,178
Investments 6 150,000 150,000
Cash at bank 1,082,012 445,352
2,233,140 1,588,280
CREDITORS
Amounts falling due within one year 7 1,838,463 1,257,373
NET CURRENT ASSETS 394,677 330,907
TOTAL ASSETS LESS CURRENT
LIABILITIES

406,635

359,271

CREDITORS
Amounts falling due after more than one year 8 22,500 31,561
NET ASSETS 384,135 327,710

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 384,132 327,707
384,135 327,710

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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.

CAMPBELL HOMES CUMNOCK LIMITED (REGISTERED NUMBER: SC557131)

BALANCE SHEET - continued
28TH FEBRUARY 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 23rd February 2024 and were signed on its behalf by:





K Lennox - Director


CAMPBELL HOMES CUMNOCK LIMITED (REGISTERED NUMBER: SC557131)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023


1. STATUTORY INFORMATION

Campbell Homes Cumnock Limited 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 recognised at the fair value of the consideration received or receivable for the construction of residential properties provided in the normal course of business, and is shown net of VAT and other sales related 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 - 20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit and loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors and trade creditors.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of Income and Retained Earnings.

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.


CAMPBELL HOMES CUMNOCK LIMITED (REGISTERED NUMBER: SC557131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Construction contracts
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown with borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

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

CAMPBELL HOMES CUMNOCK LIMITED (REGISTERED NUMBER: SC557131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st March 2022 83,400
Additions 466
At 28th February 2023 83,866
DEPRECIATION
At 1st March 2022 55,036
Charge for year 16,872
At 28th February 2023 71,908
NET BOOK VALUE
At 28th February 2023 11,958
At 28th February 2022 28,364

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 33,651 89,738
Other debtors 930,727 866,440
964,378 956,178

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Secured loan 150,000 150,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 424,877 355,785
Amounts owed to associates 571,935 197,626
Taxation and social security 160,360 119,501
Other creditors 671,291 574,461
1,838,463 1,257,373

CAMPBELL HOMES CUMNOCK LIMITED (REGISTERED NUMBER: SC557131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,500 31,561

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28th February 2023 and 28th February 2022:

2023 2022
£    £   
H McSeveney
Balance outstanding at start of year - 6,192
Amounts advanced 27,106 -
Amounts repaid (26,000 ) (6,192 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,106 -

K Miller
Balance outstanding at start of year - 13,139
Amounts advanced 28,087 -
Amounts repaid (26,000 ) (13,139 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,087 -

K Lennox
Balance outstanding at start of year - 5,091
Amounts advanced 35,998 -
Amounts repaid (26,000 ) (5,091 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,998 -

The directors loans have been fully repaid after the balance sheet date.

10. RELATED PARTY DISCLOSURES

Sales of construction services of £5,838,660 were charged to Campbell Homes (Afton Braes) Limited, a company controlled by the directors.

Included within creditors is an amount of £571,935 due from Campbell Homes (Afton Braes) Limited, a company controlled by the directors.