REGISTERED NUMBER: |
Cabins In The City (PSL) Limited |
Unaudited Financial Statements |
for the Period 12 May 2023 to 31 May 2024 |
REGISTERED NUMBER: |
Cabins In The City (PSL) Limited |
Unaudited Financial Statements |
for the Period 12 May 2023 to 31 May 2024 |
Cabins In The City (PSL) Limited (Registered number: SC769177) |
Contents of the Financial Statements |
for the Period 12 May 2023 to 31 May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Cabins In The City (PSL) Limited |
Company Information |
for the Period 12 May 2023 to 31 May 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
9 Ainslie Place |
Edinburgh |
Midlothian |
EH3 6AT |
BANKERS: |
36 St Andew Square |
Edinburgh |
EH2 2AD |
SOLICITORS: |
1 Lynedoch Place |
Drumsheugh Gardens |
Edinburgh |
EH3 7PX |
Cabins In The City (PSL) Limited (Registered number: SC769177) |
Balance Sheet |
31 May 2024 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The director acknowledges his 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. |
Cabins In The City (PSL) Limited (Registered number: SC769177) |
Balance Sheet - continued |
31 May 2024 |
The financial statements were approved by the director and authorised for issue on |
Cabins In The City (PSL) Limited (Registered number: SC769177) |
Notes to the Financial Statements |
for the Period 12 May 2023 to 31 May 2024 |
1. | STATUTORY INFORMATION |
Cabins In The City (PSL) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Property development stock is stated at the lower of cost or net realisable value. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
All loans with related parties are repayable on demand. |
Taxation |
Taxation for the period 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. |
Cabins In The City (PSL) Limited (Registered number: SC769177) |
Notes to the Financial Statements - continued |
for the Period 12 May 2023 to 31 May 2024 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
Going concern |
The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade in the foreseeable future. In order to do so, the company will require the continued support of its lender and director. The director will continue to support the company and is confident of the continued support of the lender and other creditors. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 31 May 2024 |
DEPRECIATION |
Charge for period |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
Cabins In The City (PSL) Limited (Registered number: SC769177) |
Notes to the Financial Statements - continued |
for the Period 12 May 2023 to 31 May 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to participating interests | 7,237 |
Other creditors |
Mr I Miller is the sole director and shareholder of the participating interests. |
Included within other creditors is the director's current account of £221,809, which is unsecured, interest free and repayable on demand. |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other creditors |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Other loans | 122,500 |
West One Loan Limited hold a standard security and floating charge over the assets of the company. |
In addition, the director of the company has granted a personal guarantee in respect of the loan from West One Loan Limited. |