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REGISTERED NUMBER: SC732594 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

CASCADE HOUSE LTD

CASCADE HOUSE LTD (REGISTERED NUMBER: SC732594)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

CASCADE HOUSE LTD

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Ms S A Donnelly
Mr R E Donnelly





REGISTERED OFFICE: 66 Springfield Road
Bishopbriggs
Glasgow
G64 1PN





REGISTERED NUMBER: SC732594 (Scotland)





ACCOUNTANTS: McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL

CASCADE HOUSE LTD (REGISTERED NUMBER: SC732594)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 266 397
Investment property 5 150,000 109,585
150,266 109,982

CURRENT ASSETS
Cash at bank 111,713 156,424

CREDITORS
Amounts falling due within one year 6 275,858 282,173
NET CURRENT LIABILITIES (164,145 ) (125,749 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(13,879

)

(15,767

)

CAPITAL AND RESERVES
Called up share capital 7 2 2
Fair value reserve 8 8,246 -
Retained earnings 8 (22,127 ) (15,769 )
SHAREHOLDERS' FUNDS (13,879 ) (15,767 )

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

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

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:




Mr R E Donnelly - Director


CASCADE HOUSE LTD (REGISTERED NUMBER: SC732594)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Cascade House Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical
accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The directors are of the opinion that due to the nature of the business, there are no critical accounting estimates or judgements used in the preparation of these financial statements.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any 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.

Depreciation is charged to profit or loss over the estimated useful economic lives, as follows:

Computer Equipment - 33% straight line

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use.
Any impairment loss is recognised immediately as an expense within profit or loss.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

CASCADE HOUSE LTD (REGISTERED NUMBER: SC732594)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Trade and other debtors/creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate of measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the assets carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year 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.

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 year 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.

Provisions
A provision is recognised when the company has a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

Going concern
The company accounts have been produced on a going concern basis due to the continued financial support of the Directors.

CASCADE HOUSE LTD (REGISTERED NUMBER: SC732594)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2023
and 31 May 2024 592
DEPRECIATION
At 1 June 2023 195
Charge for year 131
At 31 May 2024 326
NET BOOK VALUE
At 31 May 2024 266
At 31 May 2023 397

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 109,585
Additions 32,169
Revaluations 8,246
At 31 May 2024 150,000
NET BOOK VALUE
At 31 May 2024 150,000
At 31 May 2023 109,585

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 8,246
Cost 141,754
150,000

The investment property was revalued to market value by the directors in the year to 31 May 2024.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Directors' current accounts 273,558 279,998
Accruals and deferred income 2,300 2,175
275,858 282,173

CASCADE HOUSE LTD (REGISTERED NUMBER: SC732594)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
2 Ordinary Shares £1 2 2

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 June 2023 (15,769 ) - (15,769 )
Profit for the year 1,888 1,888
Non-distributable reserve (8,246 ) 8,246 -
At 31 May 2024 (22,127 ) 8,246 (13,881 )

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 May 2024 and the period ended 31 May 2023:

31.5.24 31.5.23
£    £   
Mr R E Donnelly
Balance outstanding at start of year (144,999 ) -
Amounts advanced 2,690 1
Amounts repaid (1,125 ) (145,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (143,434 ) (144,999 )

Ms S A Donnelly
Balance outstanding at start of year (124,999 ) -
Amounts advanced 6,000 1
Amounts repaid (1,125 ) (125,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (120,124 ) (124,999 )

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Cascade House Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cascade House Ltd for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Cascade House Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cascade House Ltd and state those matters that we have agreed to state to the Board of Directors of Cascade House Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Cascade House Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cascade House Ltd. You consider that Cascade House Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cascade House Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL


26 February 2025