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REGISTERED NUMBER: SC024463 (Scotland)















Unaudited Financial Statements for the Year Ended 28th May 2023

for

Coatbridge Property and Investment
Company Limited

Coatbridge Property and Investment
Company Limited (Registered number: SC024463)






Contents of the Financial Statements
for the Year Ended 28th May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Coatbridge Property and Investment
Company Limited

Company Information
for the Year Ended 28th May 2023







DIRECTOR: G S Watt





SECRETARY: R Watt





REGISTERED OFFICE: 1 Auchingramont Road
Hamilton
ML3 6JP





REGISTERED NUMBER: SC024463 (Scotland)





ACCOUNTANTS: Smith Inglis & Tait
1 Auchingramont Road
Hamilton
ML3 6JP

Coatbridge Property and Investment
Company Limited (Registered number: SC024463)

Balance Sheet
28th May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 223 298
Investment property 5 6,193,886 5,898,000
6,194,109 5,898,298

CURRENT ASSETS
Debtors 6 161,209 359,912
Investments 7 20,069 20,069
Cash at bank 3,586 10,960
184,864 390,941
CREDITORS
Amounts falling due within one year 8 90,370 87,463
NET CURRENT ASSETS 94,494 303,478
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,288,603

6,201,776

CREDITORS
Amounts falling due after more than one
year

9

(550,533

)

(549,222

)

PROVISIONS FOR LIABILITIES (675,536 ) (674,988 )
NET ASSETS 5,062,534 4,977,566

CAPITAL AND RESERVES
Called up share capital 751 751
Revaluation reserve 11 3,555,449 3,552,567
Other reserves 1,005 1,005
Retained earnings 1,505,329 1,423,243
SHAREHOLDERS' FUNDS 5,062,534 4,977,566

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

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

Coatbridge Property and Investment
Company Limited (Registered number: SC024463)

Balance Sheet - continued
28th May 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 director and authorised for issue on 19th March 2024 and were signed by:





G S Watt - Director


Coatbridge Property and Investment
Company Limited (Registered number: SC024463)

Notes to the Financial Statements
for the Year Ended 28th May 2023

1. STATUTORY INFORMATION

Coatbridge Property and Investment Company 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 as modified by the revaluation of certain assets.

Turnover
Revenue 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.

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).

Coatbridge Property and Investment
Company Limited (Registered number: SC024463)

Notes to the Financial Statements - continued
for the Year Ended 28th May 2023

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 29th May 2022
and 28th May 2023 85,464
DEPRECIATION
At 29th May 2022 85,166
Charge for year 75
At 28th May 2023 85,241
NET BOOK VALUE
At 28th May 2023 223
At 28th May 2022 298

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 29th May 2022 5,898,000
Additions 293,004
Revaluations 2,882
At 28th May 2023 6,193,886
NET BOOK VALUE
At 28th May 2023 6,193,886
At 28th May 2022 5,898,000

Fair value at 28th May 2023 is represented by:
£   
Valuation in 2016 2,737,025
Valuation in 2017 209,747
Valuation in 2018 (254,353 )
Valuation in 2019 275,165
Valuation in 2020 289,648
Valuation in 2021 295,335
Valuation in 2023 2,882
Cost 2,638,437
6,193,886

Coatbridge Property and Investment
Company Limited (Registered number: SC024463)

Notes to the Financial Statements - continued
for the Year Ended 28th May 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 22,772 20,179
Other debtors 138,437 339,733
161,209 359,912

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 20,069 20,069

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 1
Taxation and social security 27,329 21,932
Other creditors 63,041 65,530
90,370 87,463

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 550,533 549,222

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 550,533 549,222

11. RESERVES
Revaluation
reserve
£   
At 29th May 2022 3,552,567
Revaluation Reserve 2,882

At 28th May 2023 3,555,449