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REGISTERED NUMBER: SC396625 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CORRAN PROPERTIES LIMITED

CORRAN PROPERTIES LIMITED (REGISTERED NUMBER: SC396625)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CORRAN PROPERTIES LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: N S Ball





REGISTERED OFFICE: 18 Charlotte Square
Edinburgh
EH2 4DF





REGISTERED NUMBER: SC396625 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

CORRAN PROPERTIES LIMITED (REGISTERED NUMBER: SC396625)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,810 26,870
Investments 5 5 5
15,815 26,875

CURRENT ASSETS
Debtors 6 878,588 520,603
Cash at bank and in hand 886,623 889,645
1,765,211 1,410,248
CREDITORS
Amounts falling due within one year 7 255,928 199,958
NET CURRENT ASSETS 1,509,283 1,210,290
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,525,098

1,237,165

PROVISIONS FOR LIABILITIES 9 3,952 6,718
NET ASSETS 1,521,146 1,230,447

CAPITAL AND RESERVES
Called up share capital 10 100 100
Capital redemption reserve 100 100
Retained earnings 1,520,946 1,230,247
SHAREHOLDERS' FUNDS 1,521,146 1,230,447

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CORRAN PROPERTIES LIMITED (REGISTERED NUMBER: SC396625)

BALANCE SHEET - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 October 2024 and were signed by:





N S Ball - Director


CORRAN PROPERTIES LIMITED (REGISTERED NUMBER: SC396625)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Corran Properties Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, in relation to the development of building projects.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% per annum on cost
Computer equipment - 20% per annum on cost

Tangible fixed assets are reviewed annually for impairment.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost and reviewed annually for impairment.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract


CORRAN PROPERTIES LIMITED (REGISTERED NUMBER: SC396625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

CORRAN PROPERTIES LIMITED (REGISTERED NUMBER: SC396625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2023 47,208 14,833 62,041
Additions - 820 820
Disposals (534 ) (309 ) (843 )
At 31 March 2024 46,674 15,344 62,018
DEPRECIATION
At 1 April 2023 27,880 7,291 35,171
Charge for year 9,063 2,818 11,881
Eliminated on disposal (535 ) (309 ) (844 )
At 31 March 2024 36,408 9,800 46,208
NET BOOK VALUE
At 31 March 2024 10,266 5,544 15,810
At 31 March 2023 19,328 7,542 26,870

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 5
NET BOOK VALUE
At 31 March 2024 5
At 31 March 2023 5

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 141,636 146,313
Other debtors 736,952 374,290
878,588 520,603

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,121 5,461
Taxation and social security 252,402 191,493
Other creditors 2,405 3,004
255,928 199,958

CORRAN PROPERTIES LIMITED (REGISTERED NUMBER: SC396625)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 10,500 10,500

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,952 6,718

Deferred
tax
£   
Balance at 1 April 2023 6,718
Provided during year (2,766 )
Balance at 31 March 2024 3,952

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
85 Ordinary A £1 85 85
5 Ordinary C £1 5 5
5 Ordinary D £1 5 5
5 Ordinary E £1 5 5
100 100

All shares rank parri passu and allow for varying rights to dividends as a class of share.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.