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REGISTERED NUMBER: SC464369 (Scotland)


















Financial Statements for the Year Ended 30 November 2023

for

CLAREMONT 6 LTD

CLAREMONT 6 LTD (REGISTERED NUMBER: SC464369)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CLAREMONT 6 LTD

Company Information
for the Year Ended 30 November 2023







DIRECTORS: J A Cochrane
A M Cochrane





REGISTERED OFFICE: 272 Bath Street
Glasgow
G2 4JR





REGISTERED NUMBER: SC464369 (Scotland)





ACCOUNTANTS: BDA Associates Limited
Chartered Accountants
Global House
1 Ashley Avenue
Epsom
Surrey
KT18 5AD

CLAREMONT 6 LTD (REGISTERED NUMBER: SC464369)

Statement of Financial Position
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,640,055 1,640,055

CURRENT ASSETS
Debtors 5 - 86,827
Cash at bank and in hand 6,157 118
6,157 86,945
CREDITORS
Amounts falling due within one year 6 267,915 52,123
NET CURRENT (LIABILITIES)/ASSETS (261,758 ) 34,822
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,378,297

1,674,877

CREDITORS
Amounts falling due after more than one
year

7

(120,944

)

(517,928

)

PROVISIONS FOR LIABILITIES (147,925 ) (147,925 )
NET ASSETS 1,109,428 1,009,024

CAPITAL AND RESERVES
Called up share capital 9 1 1
Fair value reserve 10 698,169 698,169
Retained earnings 10 411,258 310,854
SHAREHOLDERS' FUNDS 1,109,428 1,009,024

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.

CLAREMONT 6 LTD (REGISTERED NUMBER: SC464369)

Statement of Financial Position - 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 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 23 August 2024 and were signed on its behalf by:





J A Cochrane - Director


CLAREMONT 6 LTD (REGISTERED NUMBER: SC464369)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Claremont 6 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 1 (2022 - NIL ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 1,640,055
NET BOOK VALUE
At 30 November 2023 1,640,055
At 30 November 2022 1,640,055

CLAREMONT 6 LTD (REGISTERED NUMBER: SC464369)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. INVESTMENT PROPERTY - continued

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2020 1,610,055
Valuation in 2021 30,000
1,640,055

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors - 1,165
Amounts owed by related party - 85,662
- 86,827

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 20,429 34,188
Trade creditors 2,154 4,854
Amounts owed to related party 231,799 -
VAT 8,283 7,831
Accrued expenses 5,250 5,250
267,915 52,123

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans - 1-2 years 120,944 517,928

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 141,373 552,116

The Bank of Scotland hold a standard security over 6 Claremont Terrace, Glasgow, and also hold a floating charge over the whole of the company's undertaking and property.

9. CALLED UP SHARE CAPITAL

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

CLAREMONT 6 LTD (REGISTERED NUMBER: SC464369)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 December 2022 310,854 698,169 1,009,023
Profit for the year 100,404 100,404
At 30 November 2023 411,258 698,169 1,109,427

11. RELATED PARTY DISCLOSURES

Daxport UK Ltd
A company of which J Cochrane is a Director.

Claremont 6 Ltd received a loan of £409,522 in the year and repaid £92,061, resulting in an outstanding balance of £231,799 Owed to (2022: £85,662 owed from) Daxport UK Ltd at the balance sheet date.