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REGISTERED NUMBER: SC769177 (Scotland)




















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: A I Miller



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT



REGISTERED NUMBER: SC769177 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: The Royal Bank of Scotland Plc
36 St Andew Square
Edinburgh
EH2 2AD



SOLICITORS: Johnson Legal
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 1,322

CURRENT ASSETS
Stocks 322,591
Debtors 5 10,591
333,182
CREDITORS
Amounts falling due within one year 6 233,471
NET CURRENT ASSETS 99,711
TOTAL ASSETS LESS CURRENT
LIABILITIES

101,033

CREDITORS
Amounts falling due after more than
one year

7

122,500
NET LIABILITIES (21,467 )

CAPITAL AND RESERVES
Called up share capital 2
Retained earnings (21,469 )
SHAREHOLDERS' FUNDS (21,467 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 director and authorised for issue on 11 February 2025 and were signed by:





A I Miller - Director


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 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.

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 - 33% on cost

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 1,586
At 31 May 2024 1,586
DEPRECIATION
Charge for period 264
At 31 May 2024 264
NET BOOK VALUE
At 31 May 2024 1,322

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 10,591

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 2,175
Amounts owed to participating interests 7,237
Other creditors 224,059
233,471

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 122,500

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.