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REGISTERED NUMBER: SC596158 (Scotland)





















Unaudited Financial Statements

For The Year Ended 31 January 2024

for

North Clairmont Street Properties
Limited

North Clairmont Street Properties
Limited (Registered number: SC596158)






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

Chartered Accountants' Report 7

North Clairmont Street Properties
Limited

Company Information
For The Year Ended 31 January 2024







DIRECTORS: B Richards
I Mulholland





REGISTERED OFFICE: Grd Floor West
199 Bath Street
Glasgow
G2 4HU





REGISTERED NUMBER: SC596158 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

North Clairmont Street Properties
Limited (Registered number: SC596158)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - (18,085 )

CURRENT ASSETS
Debtors 5 395,515 400,515
Cash at bank 1,811 3,515
397,326 404,030
CREDITORS
Amounts falling due within one year 6 112,005 81,297
NET CURRENT ASSETS 285,321 322,733
TOTAL ASSETS LESS CURRENT
LIABILITIES

285,321

304,648

CREDITORS
Amounts falling due after more than one
year

7

15,000

25,000
NET ASSETS 270,321 279,648

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 270,319 279,646
SHAREHOLDERS' FUNDS 270,321 279,648

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.

North Clairmont Street Properties
Limited (Registered number: SC596158)

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 31 October 2024 and were signed on its behalf by:





B Richards - Director


North Clairmont Street Properties
Limited (Registered number: SC596158)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

North Clairmont Street 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.

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.
Freehold property - not provided

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.

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.

North Clairmont Street Properties
Limited (Registered number: SC596158)

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

2. ACCOUNTING POLICIES - continued

Going concern
Having assessed the principal risks, the directors considered it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

The company is relying on the support of the bank and their other creditors. As a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the net current liability position. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 February 2023 (18,085 )
Disposals 18,085
At 31 January 2024 -
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 (18,085 )

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Amounts owed by associates 220,259 400,515
Other debtors 175,256 -
395,515 400,515

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 29,965 28,036
Taxation and social security 48,213 42,261
Other creditors 23,827 1,000
112,005 81,297

North Clairmont Street Properties
Limited (Registered number: SC596158)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 15,000 25,000

8. RELATED PARTY DISCLOSURES

At the year end date, there was a loan repayable to Dawncrest Limited, a company with the same director. The balance outstanding at the year end date was £220,258 (2023 - £220,258).

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
North Clairmont Street Properties
Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of North Clairmont Street Properties Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of North Clairmont Street Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of North Clairmont Street Properties Limited and state those matters that we have agreed to state to the Board of Directors of North Clairmont Street Properties Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that North Clairmont Street Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of North Clairmont Street Properties Limited. You consider that North Clairmont Street Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of North Clairmont Street Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH


31 October 2024