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Unaudited Financial Statements for the Year Ended 31 January 2024

for

Origin Homes (Scotland) Ltd

Origin Homes (Scotland) Ltd (Registered number: SC651423)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Origin Homes (Scotland) Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: M Rennie
Mrs C M Rennie
Ms D Rennie
Mrs S Rennie





REGISTERED OFFICE: 2 Melville Street
Falkirk
FK1 1HZ





REGISTERED NUMBER: SC651423 (Scotland)





ACCOUNTANTS: Ian Macfarlane Limited
Chartered Accountants
2 Melville Street
Falkirk
FK1 1HZ

Origin Homes (Scotland) Ltd (Registered number: SC651423)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,000 -

CURRENT ASSETS
Stocks 527,285 237,750
Debtors 5 4,567 1,450
Cash at bank and in hand 4,691 2,878
536,543 242,078
CREDITORS
Amounts falling due within one year 6 358,711 2,771
NET CURRENT ASSETS 177,832 239,307
TOTAL ASSETS LESS CURRENT
LIABILITIES

202,832

239,307

CREDITORS
Amounts falling due after more than one year 7 209,067 243,136
NET LIABILITIES (6,235 ) (3,829 )

CAPITAL AND RESERVES
Called up share capital 8 80 80
Retained earnings (6,315 ) (3,909 )
SHAREHOLDERS' FUNDS (6,235 ) (3,829 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Origin Homes (Scotland) Ltd (Registered number: SC651423)

Balance Sheet - continued
31 January 2024


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 22 October 2024 and were signed on its behalf by:





M Rennie - Director


Origin Homes (Scotland) Ltd (Registered number: SC651423)

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

1. STATUTORY INFORMATION

Origin Homes (Scotland) 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 - going concern
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.

The company has made a loss for the year resulting in a negative Balance Sheet of £6,235 (2023 - £3,829). The company is nearing the completion of its first project which will yield a profit and return the company Balance Sheet to a positive position for next year. The company is supported by an investment of £209,067 (2023 - £243,136) from its directors, they have undertaken not to draw down their loans where it would be detrimental to the company creditors. Based on this these accounts have been prepared on a going concern basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 (2023 - 2 ) .

Origin Homes (Scotland) Ltd (Registered number: SC651423)

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
Additions 25,000
At 31 January 2024 25,000
NET BOOK VALUE
At 31 January 2024 25,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 4,567 1,450

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 320,234 -
Trade creditors 32,267 1,899
Taxation and social security 5,360 192
Other creditors 850 680
358,711 2,771

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Other creditors 209,067 243,136

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
38 "A" ordinary £1 38 38
19 "B" ordinary £1 19 19
19 "C" ordinary £1 19 19
4 "D" ordinary £1 4 4
80 80