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REGISTERED NUMBER: SC368598 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

CORNERHOUSE DEVELOPMENTS LTD

CORNERHOUSE DEVELOPMENTS LTD (REGISTERED NUMBER: SC368598)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CORNERHOUSE DEVELOPMENTS LTD

Company Information
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: C M Duncan
Mrs J Duncan





REGISTERED OFFICE: First Floor, 5 Abercrombie Court
Prospect Road
Arnhall Business Park
Westhill
Grampian
AB32 6FE





REGISTERED NUMBER: SC368598 (Scotland)





ACCOUNTANTS: Fyfe Moir & Associates
1st Floor, 5 Abercrombie Crt
Prospect Road,
Westhill
Aberdeenshire
Grampian
AB32 6FE

CORNERHOUSE DEVELOPMENTS LTD (REGISTERED NUMBER: SC368598)

Balance Sheet
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 296,588 296,588

CURRENT ASSETS
Debtors 5 767 414
Cash at bank 33,777 29,696
34,544 30,110
CREDITORS
Amounts falling due within one year 6 82,463 82,933
NET CURRENT LIABILITIES (47,919 ) (52,823 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

248,669

243,765

CREDITORS
Amounts falling due after more than one
year

7

157,262

162,790
NET ASSETS 91,407 80,975

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 91,307 80,875
SHAREHOLDERS' FUNDS 91,407 80,975

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

CORNERHOUSE DEVELOPMENTS LTD (REGISTERED NUMBER: SC368598)

Balance Sheet - continued
30 NOVEMBER 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 Board of Directors and authorised for issue on 25 August 2024 and were signed on its behalf by:





C M Duncan - Director


CORNERHOUSE DEVELOPMENTS LTD (REGISTERED NUMBER: SC368598)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Cornerhouse Developments 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.

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 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 296,588
NET BOOK VALUE
At 30 November 2023 296,588
At 30 November 2022 296,588

CORNERHOUSE DEVELOPMENTS LTD (REGISTERED NUMBER: SC368598)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 767 414

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts (see note 8) 14,930 14,930
Other loans (see note 8) 2,500 3,500
Tax 2,224 1,314
Directors' current accounts 61,789 62,170
Accrued expenses 1,020 1,019
82,463 82,933

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 8) 157,262 162,790

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 97,542 103,070

8. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 14,930 14,930
Other loans 2,500 3,500
17,430 18,430

Amounts falling due between one and two years:
Bank loans - 1-2 years 14,930 14,930

Amounts falling due between two and five years:
Bank loans - 2-5 years 44,790 44,790

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 97,542 103,070

CORNERHOUSE DEVELOPMENTS LTD (REGISTERED NUMBER: SC368598)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 172,192 177,720

25th February 2020 a charge was created in favour of Aldermore Bank plc securing the property 31 Wilson's Land.

25th February 2020 a charge was created in favour of Aldermore Bank plc securing the property 33 Wilson's Land.

10th June 2013 a floating charge was created in favour of Bank of Scotland plc securing all sums due or to become due.

18th June 2013 a charge was created in favour of Bank of Scotland plc securing the property 821 Great Northern Road, Ground Floor Flat.

18th June 2013 a charge was created in favour of Bank of Scotland plc securing the property 821 Great Northern Road, First Floor Flat.

18th June 2013 a charge was created in favour of Bank of Scotland plc securing the property 821 Great Northern Road, Top Floor Flat.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 December 2022 80,875
Profit for the year 10,432
At 30 November 2023 91,307