Cameron-Rainey Properties Ltd
Registered number: SC561706
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 240,000 240,000
Current assets
Debtors 4 2,147 -
Cash at bank and in hand 1,640 5,235
3,787 5,235
Creditors: amounts falling due within one year 5 (69,993) (66,132)
Net current liabilities (66,206) (60,897)
Total assets less current liabilities 173,794 179,103
Creditors: amounts falling due after more than one year 6 (49,189) (65,413)
Provisions for liabilities (1,756) (1,756)
Net assets 122,849 111,934
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 10,000 10,000
Profit and loss account 112,749 101,834
Shareholders' funds 122,849 111,934
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs R Rainey
Director
Approved by the board on 21 June 2024
Cameron-Rainey Properties Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investment property
£
Fair value
At 1 May 2023 240,000
At 30 April 2024 240,000
Investment property comprises real estate held for rent. The fair value of the investment property has been reviewed by the directors at the year end.
4 Debtors 2024 2023
£ £
Trade debtors 2,147 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 20,881 20,881
Accrued expenses 920 920
Corporation tax 2,559 2,575
Other taxes and social security costs 910 1,034
Other creditors 44,723 40,722
69,993 66,132
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 49,189 65,413
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 49,189 65,413
The bank loan is secured against the property.
8 Revaluation reserve 2024 2023
£ £
At 1 May 2023 10,000 10,000
At 30 April 2024 10,000 10,000
9 Controlling party
The company was under the control of the directors, who both hold a 100% beneficial interest in the company's share capital.
10 Other information
Cameron-Rainey Properties Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
54 King Street
Kilmarnock
East Ayrshire
KA1 1NP
Cameron-Rainey Properties Ltd SC561706 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts April 2024 Mrs R Rainey No description of principal activity SC561706 2022-05-01 2023-04-30 SC561706 core:WithinOneYear 2023-04-30 SC561706 core:AfterOneYear 2023-04-30 SC561706 core:ShareCapital 2023-04-30 SC561706 core:OtherReservesSubtotal 2023-04-30 SC561706 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC561706 core:RevaluationReserve 2022-04-30 SC561706 2023-05-01 2024-04-30 SC561706 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC561706 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC561706 bus:Director40 2023-05-01 2024-04-30 SC561706 1 2023-05-01 2024-04-30 SC561706 2 2023-05-01 2024-04-30 SC561706 countries:England 2023-05-01 2024-04-30 SC561706 bus:FRS102 2023-05-01 2024-04-30 SC561706 bus:FilletedAccounts 2023-05-01 2024-04-30 SC561706 2024-04-30 SC561706 core:WithinOneYear 2024-04-30 SC561706 core:AfterOneYear 2024-04-30 SC561706 core:ShareCapital 2024-04-30 SC561706 core:OtherReservesSubtotal 2024-04-30 SC561706 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC561706 core:RevaluationReserve 2024-04-30 SC561706 2023-04-30 SC561706 core:RevaluationReserve 2023-04-30 iso4217:GBP xbrli:pure