0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP SC492499 2023-01-01 2023-12-31 SC492499 2023-12-31 SC492499 2022-12-31 SC492499 2022-01-01 2022-12-31 SC492499 2022-12-31 SC492499 2021-12-31 SC492499 bus:Director1 2023-01-01 2023-12-31 SC492499 core:WithinOneYear 2023-12-31 SC492499 core:WithinOneYear 2022-12-31 SC492499 core:ShareCapital 2023-12-31 SC492499 core:ShareCapital 2022-12-31 SC492499 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC492499 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC492499 bus:SmallEntities 2023-01-01 2023-12-31 SC492499 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC492499 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC492499 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC492499 bus:FullAccounts 2023-01-01 2023-12-31 SC492499 core:OtherRelatedParties 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: SC492499
Cumbrae Property Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Cumbrae Property Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Current assets
Stocks
629,833
629,833
Debtors
4
30,820
22,568
Cash at bank and in hand
28,595
17,254
---------
---------
689,248
669,655
Creditors: amounts falling due within one year
5
( 38,737)
( 55,425)
---------
---------
Net current assets
650,511
614,230
---------
---------
Total assets less current liabilities
650,511
614,230
---------
---------
Capital and reserves
Called up share capital
120
120
Profit and loss account
650,391
614,110
---------
---------
Shareholders funds
650,511
614,230
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Mr C B Geddes
Director
Company registration number: SC492499
Cumbrae Property Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 34 Grange Knowe, Linlithgow, EH49 7HX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continues to adopt the going concern basis of accounting in preparing these financial statements.
Revenue recognition
The turnover shown in the profit and loss account represents amounts earned during the period, exclusive of Value Added Tax.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
2023
2022
£
£
Trade debtors
3,753
4,017
Other debtors
27,067
18,551
--------
--------
30,820
22,568
--------
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,652
1,860
Corporation tax
21,206
18,614
Social security and other taxes
4,718
5,601
Other creditors
9,161
29,350
--------
--------
38,737
55,425
--------
--------
6. Related party transactions
At the year end £8,406 (2022: £8,406) was due by the company to Mr C D Geddes, a director and a director of CBRG Limited. No interest has been charged and it is repayable on demand. At the year end £1,433 (2022: £7,500 due to company) was due by CBRG Limited to the company, a 50% shareholder. No interest has been charged and it is repayable on demand. At the year end £nil (2022: £5,722) was due by the company to Redesdale Developments Limited, a 25% shareholder. No interest has been charged and it is repayable on demand. At the year end £nil (2022: £5,722) was due by the company to Orsay Bishopton Limited, a 25% shareholder. No interest has been charged and it is repayable on demand.