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COAL WYND DEVELOPMENTS LIMITED

Registered Number
SC095288
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

COAL WYND DEVELOPMENTS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Robert McNab

Registered Address

1 Camperdown Place
Kirkcaldy
KY2 6XW

Registered Number

SC095288 (Scotland)
COAL WYND DEVELOPMENTS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets317,67724,440
Investment property4200,000200,000
217,677224,440
Current assets
Debtors53,4122,699
Cash at bank and on hand6,9423,755
10,3546,454
Creditors amounts falling due within one year6(30,557)(35,151)
Net current assets (liabilities)(20,203)(28,697)
Total assets less current liabilities197,474195,743
Provisions for liabilities(23,110)(22,944)
Net assets174,364172,799
Capital and reserves
Called up share capital74,00074,000
Other reserves98,23798,237
Profit and loss account2,127562
Shareholders' funds7174,364172,799
The financial statements were approved and authorised for issue by the Director on 16 July 2024, and are signed on its behalf by:
Robert McNab
Director
Registered Company No. SC095288
COAL WYND DEVELOPMENTS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The financial statements have been prepared on the going concern basis. The director finds it appropriate for the financial statements to be prepared on this basis despite the net current liability position of the company. The company is reliant upon the continued support of the director who has confirmed he will continue to support the company as required.
Turnover policy
Income represents rents receivable in the year.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-25
Plant and machinery25-
Vehicles25-
Office Equipment-3
Investment property
Investment property is shown at its open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on the investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This is in accordance with FRSSE which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment property is held for its investment potential and not for use by the company and so its current value is of prime importance. The departure from the provisions of the Act is required to give a true and fair view.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 April 232,6403,98427,2001,24435,068
Additions-878--878
At 31 March 242,6404,86227,2001,24435,946
Depreciation and impairment
At 01 April 237222,9295,9211,05610,628
Charge for year1063357,0931077,641
At 31 March 248283,26413,0141,16318,269
Net book value
At 31 March 241,8121,59814,1868117,677
At 31 March 231,9181,05521,27918824,440
4.Investment property

£
Fair value at 01 April 23200,000
At 31 March 24200,000
5.Debtors: amounts due within one year

2024

2023

££
Other debtors-11
Prepayments and accrued income3,4122,688
Total3,4122,699
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables86-
Taxation and social security12,1605,831
Other creditors13,29127,892
Accrued liabilities and deferred income5,0201,428
Total30,55735,151
7.Fair value reserve
The heritable property was revalued in August 2015 by Graham and Sibbald, Chartered Surveyors, at an open market value of £200,000. The historical cost of the property included above at a valuation of £200,000 was £101,763. Fair value at 31 March 2024 is represented by: Valuation in 2015 £200,000