C & G Investments Ltd SC414022 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is has become property management in addition to some stock retailing Digita Accounts Production Advanced 6.30.9574.0 true true SC414022 2023-02-01 2024-01-31 SC414022 2024-01-31 SC414022 bus:OrdinaryShareClass1 2024-01-31 SC414022 core:CurrentFinancialInstruments 2024-01-31 SC414022 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 SC414022 core:Non-currentFinancialInstruments 2024-01-31 SC414022 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 SC414022 core:FurnitureFittingsToolsEquipment 2024-01-31 SC414022 core:LandBuildings 2024-01-31 SC414022 bus:SmallEntities 2023-02-01 2024-01-31 SC414022 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 SC414022 bus:FullAccounts 2023-02-01 2024-01-31 SC414022 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 SC414022 bus:RegisteredOffice 2023-02-01 2024-01-31 SC414022 bus:Director1 2023-02-01 2024-01-31 SC414022 bus:Director2 2023-02-01 2024-01-31 SC414022 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 SC414022 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC414022 bus:Agent1 2023-02-01 2024-01-31 SC414022 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 SC414022 core:LandBuildings 2023-02-01 2024-01-31 SC414022 countries:Scotland 2023-02-01 2024-01-31 SC414022 2023-01-31 SC414022 core:FurnitureFittingsToolsEquipment 2023-01-31 SC414022 core:LandBuildings 2023-01-31 SC414022 2022-02-01 2023-01-31 SC414022 2023-01-31 SC414022 bus:OrdinaryShareClass1 2023-01-31 SC414022 core:CurrentFinancialInstruments 2023-01-31 SC414022 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 SC414022 core:Non-currentFinancialInstruments 2023-01-31 SC414022 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 SC414022 core:FurnitureFittingsToolsEquipment 2023-01-31 SC414022 core:LandBuildings 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC414022

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C & G Investments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

C & G Investments Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 8

 

C & G Investments Ltd

Company Information

Directors

Grant Duncan

Caroline Stewart

Registered office

The Church
Airlie
Kirriemuir
DD8 5NP

Bankers

Royal Bank of Scotland plc
3 Falkland Gate
Glenrothes
KY7 5NS

Accountants

RGA Scotland Limited
Chartered Accountants
Orchardlea
Callander
FK17 8BG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
C & G Investments Ltd
for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of C & G Investments Ltd for the year ended 31 January 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
 

This report is made solely to the Board of Directors of C & G Investments Ltd , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of C & G Investments Ltd and state those matters that we have agreed to state to the Board of Directors of C & G Investments Ltd, as a body, in this report.

This is in accordance with the requirements of such bodies as the ACCA, ICAS and ICAEW, to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C & G Investments Ltd and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that C & G Investments Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of C & G Investments Ltd. You consider that C & G Investments Ltd is exempt from the statutory audit requirement for the year.
 

We have not been instructed to carry out an audit or a review of the accounts of C & G Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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....................................................................

RGA Scotland Limited
Chartered Accountants
Orchardlea
Callander
FK17 8BG


 

16 April 2024

 

C & G Investments Ltd

(Registration number: SC414022)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

107,885

103,353

Current assets

 

Stocks

5

86

429

Debtors

6

1,621

2,270

Cash at bank and in hand

 

5,785

7,182

 

7,492

9,881

Creditors: Amounts falling due within one year

7

(72,215)

(46,859)

Net current liabilities

 

(64,723)

(36,978)

Total assets less current liabilities

 

43,162

66,375

Creditors: Amounts falling due after more than one year

7

(15,085)

(25,734)

Provisions for liabilities

(314)

(675)

Net assets

 

27,763

39,966

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

27,761

39,964

Shareholders' funds

 

27,763

39,966

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 April 2024 and signed on its behalf by:
 

.........................................
Grant Duncan
Director

 

C & G Investments Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
The Church
Airlie
Kirriemuir
DD8 5NP

The principal place of business is:
Balbirnie Gym
Alburne Park
Glenrothes
KY7 5RB

These financial statements were authorised for issue by the Board on 16 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

C & G Investments Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

C & G Investments Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

99,800

3,553

103,353

Additions

2,878

1,654

4,532

At 31 January 2024

102,678

5,207

107,885

Depreciation

Carrying amount

At 31 January 2024

102,678

5,207

107,885

At 31 January 2023

99,800

3,553

103,353

 

C & G Investments Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

429

248

Stock for sale and business use

(343)

181

86

429

6

Debtors

Current

2024
£

2023
£

Other debtors

1,621

2,270

 

1,621

2,270

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

20,495

20,744

Trade creditors

 

429

429

Taxation and social security

 

(1,009)

2,486

Accruals and deferred income

 

150

500

Other creditors

 

52,150

22,700

 

72,215

46,859

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

15,085

25,734

 

C & G Investments Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

15,085

25,734

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,648

10,648

Directors current accounts

9,847

10,096

20,495

20,744