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COME FAE HOMES LTD

Registered Number
SC671375
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

COME FAE HOMES LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

DOCHERTY, Thomas James
HOUSTON, Kathleen

Registered Address

111 Old Mill Road
Uddingston
G71 7JB

Registered Number

SC671375 (Scotland)
COME FAE HOMES LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets330,28735,748
30,28735,748
Current assets
Debtors415,266-
Cash at bank and on hand1076,091
15,3736,091
Creditors amounts falling due within one year5(69,353)(67,339)
Net current assets (liabilities)(53,980)(61,248)
Total assets less current liabilities(23,693)(25,500)
Creditors amounts falling due after one year6(15,462)(19,409)
Provisions for liabilities8(5,755)(6,317)
Net assets(44,910)(51,226)
Capital and reserves
Called up share capital100100
Profit and loss account(45,010)(51,326)
Shareholders' funds(44,910)(51,226)
The financial statements were approved and authorised for issue by the Board of Directors on 16 May 2024, and are signed on its behalf by:
DOCHERTY, Thomas James
Director
Registered Company No. SC671375
COME FAE HOMES LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Interest income
Interest income is recognised using the effective interest rate method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery15
Office Equipment20
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 2342,308
At 31 March 2442,308
Depreciation and impairment
At 01 April 236,560
Charge for year5,461
At 31 March 2412,021
Net book value
At 31 March 2430,287
At 31 March 2335,748
Included within Plant & Machinery, are assets held under HP totaling £29,990 (2023: £29,990).
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables15,266-
Total15,266-
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security13,2048,880
Finance lease and HP contracts3,9483,948
Other creditors49,59252,337
Accrued liabilities and deferred income2,6092,174
Total69,35367,339
6.Creditors: amounts due after one year

2024

2023

££
Other creditors15,46219,409
Total15,46219,409
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts15,46219,409
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)5,7556,317
Total5,7556,317
9.Directors advances, credits and guarantees
At the year end, there was a balance of £49,592 (2023: £52,337) owed to the directors of the company.
10.Controlling party
The controlling party is T J Docherty.