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REGISTERED NUMBER: SC653621 (Scotland)











































Cairnmount Properties Ltd

Unaudited Financial Statements

for the Year Ended 29th February 2024






Cairnmount Properties Ltd (Registered number: SC653621)






Contents of the Financial Statements
for the year ended 29th February 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 5


Cairnmount Properties Ltd

Company Information
for the year ended 29th February 2024







Directors: S J Lilley
Mrs A C Lilley





Registered office: Nambrac
Cairnmount
Jedburgh
TD8 6SA





Registered number: SC653621 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Cairnmount Properties Ltd (Registered number: SC653621)

Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Investment property 4 99,160 98,961

Current assets
Cash at bank 4,542 3,157

Creditors
Amounts falling due within one year 5 24,514 24,514
Net current liabilities (19,972 ) (21,357 )
Total assets less current liabilities 79,188 77,604

Creditors
Amounts falling due after more than one
year

6

94,768

93,531
Net liabilities (15,580 ) (15,927 )

Capital and reserves
Called up share capital 2 2
Retained earnings (15,582 ) (15,929 )
(15,580 ) (15,927 )

Cairnmount Properties Ltd (Registered number: SC653621)

Balance Sheet - continued
29th February 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 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.

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th July 2024 and were signed on its behalf by:





S J Lilley - Director


Cairnmount Properties Ltd (Registered number: SC653621)

Notes to the Financial Statements
for the year ended 29th February 2024

1. Statutory information

Cairnmount Properties 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 and represents amounts receivable for rental of commercial property, stated net of discounts and of Value Added Tax.

Rental payments are recognised in accordance with the lease arrangements.

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.

Financial instruments
The following assets and liabilities are classified as financial instruments - bank loans, accruals and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand) and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

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 Statement of Income and Retained Earnings, 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.

Cairnmount Properties Ltd (Registered number: SC653621)

Notes to the Financial Statements - continued
for the year ended 29th February 2024

2. Accounting policies - continued

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Going concern
The balance sheet is currently showing a deficit of assets. The directors are confident that this situation will reverse, therefore the accounts have been prepared on a going concern basis.

3. Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

4. Investment property
Total
£   
Fair value
At 1st March 2023 98,961
Additions 199
At 29th February 2024 99,160
Net book value
At 29th February 2024 99,160
At 28th February 2023 98,961

5. Creditors: amounts falling due within one year
2024 2023
£    £   
Other creditors 24,514 24,514

6. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 94,768 93,531

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 94,768 93,531

7. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 94,768 93,531

The Mortgage Works (UK) PLC holds security over the property owned by the company by way of a legal charge.