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REGISTERED NUMBER: SC383490 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Caithness Investors Ltd

Caithness Investors Ltd (Registered number: SC383490)






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


Caithness Investors Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P J Body
Mrs K J Body





REGISTERED OFFICE: Braemara
Scarfskerry
Thurso
Caithness
KW14 8XW





REGISTERED NUMBER: SC383490 (Scotland)





ACCOUNTANTS: Reid & Fraser
Chartered Accountants
15 Princes Street
Thurso
Caithness
KW14 7BQ

Caithness Investors Ltd (Registered number: SC383490)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 400,000 400,000
400,000 400,000

CURRENT ASSETS
Debtors 6 3,375 4,710
Cash at bank 781 5,290
4,156 10,000
CREDITORS
Amounts falling due within one year 7 (98,963 ) (127,026 )
NET CURRENT LIABILITIES (94,807 ) (117,026 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

305,193

282,974

PROVISIONS FOR LIABILITIES (7,522 ) (7,522 )
NET ASSETS 297,671 275,452

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 8 30,113 30,113
Retained earnings 267,556 245,337
SHAREHOLDERS' FUNDS 297,671 275,452

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 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.

Caithness Investors Ltd (Registered number: SC383490)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





P J Body - Director


Caithness Investors Ltd (Registered number: SC383490)

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

1. STATUTORY INFORMATION

Caithness Investors 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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% straight line

INVESTMENT PROPERTY
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value. Fair value is measured after considering rental yields applicable to the individual investment property. The surplus or deficit on a fair value adjustment is recognised in the income statement in the year. As the fair value adjustment is not a distributable profit, this is transferred to the fair value reserve. Deferred tax is provided on fair value gains at the rate expected to apply when the property is sold and this provision is included within the fair value reserve.

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 ) .

Caithness Investors Ltd (Registered number: SC383490)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 23,575
DEPRECIATION
At 1 April 2023
and 31 March 2024 23,575
NET BOOK VALUE
At 31 March 2024 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 400,000
NET BOOK VALUE
At 31 March 2024 400,000
At 31 March 2023 400,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2017 37,635
Cost 362,365
400,000

Investment property was valued on an open market value basis on 31 March 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,375 4,710

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 78 -
Corporation tax 5,212 5,798
Other creditors 93,673 121,228
98,963 127,026

Caithness Investors Ltd (Registered number: SC383490)

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

8. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 30,113

The amounts transferred to the fair value reserve from retained earnings represents the fair value adjustments applicable to investment properties together with the associated deferred tax provision. This is a non-distributable reserve.