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Logo On Report
Registered Number: SC493697
Scotland

 

 

 

CULNACRAIG LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Director Neil Watson Watson
Registered Number SC493697
Registered Office 96-98 Forrest Street
Clarkston
Airdrie
ML6 7AG
Accountants Libratum Accountancy Ltd
96-98 Forrest Street
Clarkston
Airdrie
Lanarkshire
ML6 7AG
1
  2024   2023
    £ £   £ £
Fixed assets   2,149,140      2,119,134 
Current assets 1,429,482      1,001,773   
Creditors: amount falling due within one year (15,105)     (10,551)  
Net current assets   1,414,377      991,222 
Total assets less current liabilities   3,563,517      3,110,356 
Net assets   3,563,517      3,110,356 
 

         
Capital and reserves   3,563,517      3,110,356 
 
NOTES TO THE ACCOUNTS

General Information
CULNACRAIG LTD is a private company, limited by shares, registered in Scotland, registration number SC493697, registration address 96-98 Forrest Street, Clarkston, Airdrie, ML6 7AG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 April 2023 1,508,827    1,508,827 
Additions  
Disposals  
At 31 March 2024 1,508,827    1,508,827 
Depreciation
At 01 April 2023  
Charge for year  
On disposals  
At 31 March 2024  
Net book values
Closing balance as at 31 March 2024 1,508,827    1,508,827 
Opening balance as at 01 April 2023 1,508,826    1,508,826 


3.

Investments

Cost Other investments other than loans   Investments in participating interests   Total
  £   £   £
At 01 April 2023 552,728    57,580    610,308 
Additions 30,005      30,005 
Transfer to/from tangible fixed assets    
Disposals    
At 31 March 2024 582,733    57,580    640,313 

4.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 07 November 2024 and were signed by:


--------------------------------
Neil Watson Watson
Director
2