Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312023-06-01falseNo description of principal activity52truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC030253 2023-06-01 2024-05-31 SC030253 2022-06-01 2023-05-31 SC030253 2024-05-31 SC030253 2023-05-31 SC030253 c:CompanySecretary1 2023-06-01 2024-05-31 SC030253 c:Director1 2023-06-01 2024-05-31 SC030253 c:Director2 2023-06-01 2024-05-31 SC030253 c:RegisteredOffice 2023-06-01 2024-05-31 SC030253 d:Buildings 2023-06-01 2024-05-31 SC030253 d:Buildings 2024-05-31 SC030253 d:Buildings 2023-05-31 SC030253 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC030253 d:Buildings d:ShortLeaseholdAssets 2023-06-01 2024-05-31 SC030253 d:Buildings d:ShortLeaseholdAssets 2024-05-31 SC030253 d:Buildings d:ShortLeaseholdAssets 2023-05-31 SC030253 d:PlantMachinery 2023-06-01 2024-05-31 SC030253 d:PlantMachinery 2024-05-31 SC030253 d:PlantMachinery 2023-05-31 SC030253 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC030253 d:MotorVehicles 2023-06-01 2024-05-31 SC030253 d:MotorVehicles 2024-05-31 SC030253 d:MotorVehicles 2023-05-31 SC030253 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC030253 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SC030253 d:CurrentFinancialInstruments 2024-05-31 SC030253 d:CurrentFinancialInstruments 2023-05-31 SC030253 d:Non-currentFinancialInstruments 2024-05-31 SC030253 d:Non-currentFinancialInstruments 2023-05-31 SC030253 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 SC030253 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 SC030253 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 SC030253 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 SC030253 d:ShareCapital 2024-05-31 SC030253 d:ShareCapital 2023-05-31 SC030253 d:OtherMiscellaneousReserve 2024-05-31 SC030253 d:OtherMiscellaneousReserve 2023-05-31 SC030253 d:RetainedEarningsAccumulatedLosses 2024-05-31 SC030253 d:RetainedEarningsAccumulatedLosses 2023-05-31 SC030253 c:OrdinaryShareClass1 2023-06-01 2024-05-31 SC030253 c:OrdinaryShareClass1 2024-05-31 SC030253 c:OrdinaryShareClass1 2023-05-31 SC030253 c:FRS102 2023-06-01 2024-05-31 SC030253 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SC030253 c:FullAccounts 2023-06-01 2024-05-31 SC030253 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC030253 4 2024-05-31 SC030253 4 2023-05-31 SC030253 f:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC030253










CAIRNESS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

 
CAIRNESS LIMITED
 

COMPANY INFORMATION


DIRECTORS
W J Moir Jnr 
Mrs G Moir 




COMPANY SECRETARY
Mrs G Moir



REGISTERED NUMBER
SC030253



REGISTERED OFFICE
1 Carden Place

Aberdeen

AB1 1UT




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
CAIRNESS LIMITED
REGISTERED NUMBER: SC030253

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
As restated 2023
£
£

FIXED ASSETS
  

Tangible assets
 4 
1,568,826
1,622,211

Investments
 5 
250
250

  
1,569,076
1,622,461

CURRENT ASSETS
  

Stocks
  
1,452,449
2,191,102

Debtors: amounts falling due within one year
 6 
242,915
22,796

Cash at bank and in hand
  
1,159
-

  
1,696,523
2,213,898

Creditors: amounts falling due within one year
 8 
(1,560,983)
(1,788,240)

NET CURRENT ASSETS
  
 
 
135,540
 
 
425,658

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,704,616
2,048,119

Creditors: amounts falling due after more than one year
 9 
(1,535,866)
(1,700,444)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
-
(171,177)

  
 
 
-
 
 
(171,177)

NET ASSETS
  
168,750
176,498


CAPITAL AND RESERVES
  

Called up share capital 
 10 
12,000
12,000

Other reserves
  
14,779
14,779

Profit and loss account
  
141,971
149,719

  
168,750
176,498


Page 1

 
CAIRNESS LIMITED
REGISTERED NUMBER: SC030253

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 February 2025.




W J Moir Jnr
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CAIRNESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


GENERAL INFORMATION

Cairness Limited is a private limited company limited by shares incorporated in Scotland.  The registered office is 1 Carden Place, Aberdeen, AB1 1UT and the Company's registration number is SC030253.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

REVENUE

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
CAIRNESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


  
2.4

AGRICULTURAL SUPPORT SCHEMES

Income from the Basic Payment Scheme is not recognised until 31 December of the relevant scheme year, when all conditions of the scheme have been complied with.
Income received under livestock support schemes is recognised as income when the business receives the payment, and not when the business has met all the criteria which entitles it to the income.

 
2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
CAIRNESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.5
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Heritable property
-
Nil
Property improvements
-
4% straight line
Plant and machinery
-
12.5% reducing balance
Motor vehicles
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 5 (2023 - 2).

Page 5

 
CAIRNESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


TANGIBLE FIXED ASSETS





Heriable property
Property improvements
Plant and machinery
Motor vehicles
Total

£
£
£
£
£



COST OR VALUATION


At 1 June 2023
744,658
213,489
1,161,066
67,172
2,186,385


Additions
-
40,000
20,967
26,581
87,548


Disposals
-
-
(10,887)
(18,000)
(28,887)



At 31 May 2024

744,658
253,489
1,171,146
75,753
2,245,046



DEPRECIATION


At 1 June 2023
-
83,874
478,112
2,188
564,174


Charge for the year on owned assets
-
7,945
86,765
18,392
113,102


Disposals
-
-
(1,056)
-
(1,056)



At 31 May 2024

-
91,819
563,821
20,580
676,220



NET BOOK VALUE



At 31 May 2024
744,658
161,670
607,325
55,173
1,568,826



At 31 May 2023
744,658
129,615
682,954
64,984
1,622,211


5.


FIXED ASSET INVESTMENTS





Trade investments

£





At 1 June 2023
250






NET BOOK VALUE



At 31 May 2024
250



At 31 May 2023
250

Page 6

 
CAIRNESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


DEBTORS

2024
2023
£
£


Trade debtors
225,858
15,602

Other debtors
17,057
7,194

242,915
22,796



7.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
1,159
-

1,159
-



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
819,945
375,641

Other loans
371,208
670,712

Trade creditors
234,918
259,442

Obligations under finance lease and hire purchase contracts
92,662
104,153

Other creditors
42,250
378,292

1,560,983
1,788,240



9.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
1,400,365
1,503,319

Other loans
-
414

Net obligations under finance leases and hire purchase contracts
135,501
196,711

1,535,866
1,700,444


Page 7

 
CAIRNESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



12,000 (2023 - 12,000) Ordinary shares of £1.00 each
12,000
12,000



11.


PRIOR YEAR ADJUSTMENT

Retained earnings have been restsated to adjust for the prior years closing stock being overstated.The effect within the statement of income and retained earnings is to decrease cost of sales by £100,000 for the year to 31 May 2024. For the preceding year to 31 May 2023 the effect was to decrease retained earnings by £100,000.
This has in turn decreased stocks by £100,000 within the Statement of Financial Position for the year ending 31 May 2023.


Page 8