Company Registration No. SC449675 (Scotland)
Taigh Lettings Limited
Unaudited accounts
for the year ended 31 May 2024
Taigh Lettings Limited
Unaudited accounts
Contents
Taigh Lettings Limited
Company Information
for the year ended 31 May 2024
Company Number
SC449675 (Scotland)
Registered Office
16 Burn Brae Place
Westhill
Inverness
IV2 5TA
Accountants
CMM Accountancy (Inverness) Limited
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
Taigh Lettings Limited
Statement of financial position
as at 31 May 2024
Investment property
280,000
280,000
Cash at bank and in hand
6,447
20,634
Creditors: amounts falling due within one year
(240,258)
(267,580)
Net current liabilities
(233,477)
(245,935)
Total assets less current liabilities
46,631
34,429
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
46,511
34,260
Shareholders' funds
46,611
34,360
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 February 2025 and were signed on its behalf by
H Morgan
Director
Company Registration No. SC449675
Taigh Lettings Limited
Notes to the Accounts
for the year ended 31 May 2024
Taigh Lettings Limited is a private company, limited by shares, registered in Scotland, registration number SC449675. The registered office is 16 Burn Brae Place, Westhill, Inverness, IV2 5TA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% straight line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Taigh Lettings Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Total
5
Average number of employees
During the year the average number of employees was 0 (2023: 0).