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REGISTERED NUMBER: SC142832 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Cloncarney Limited

Cloncarney Limited (Registered number: SC142832)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cloncarney Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Michael Alan McHugh
Frances McHugh





SECRETARY: Frances McHugh





REGISTERED OFFICE: 25 Sandyford Place
Glasgow
G3 7NG





REGISTERED NUMBER: SC142832 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Cloncarney Limited (Registered number: SC142832)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 262,626 274,037

CURRENT ASSETS
Stock 16,500 7,500
Debtors 5 (6,331 ) 47,501
Cash at bank and in hand 95,067 83,030
105,236 138,031
CREDITORS
Amounts falling due within one year 6 113,891 114,571
NET CURRENT (LIABILITIES)/ASSETS (8,655 ) 23,460
TOTAL ASSETS LESS CURRENT
LIABILITIES

253,971

297,497

CREDITORS
Amounts falling due after more than one
year

7

(258,602

)

(278,619

)

PROVISIONS FOR LIABILITIES 9 (11,513 ) (16,929 )
NET (LIABILITIES)/ASSETS (16,144 ) 1,949

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (16,244 ) 1,849
SHAREHOLDERS' FUNDS (16,144 ) 1,949

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Cloncarney Limited (Registered number: SC142832)

Balance Sheet - continued
30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2025 and were signed on its behalf by:





Michael Alan McHugh - Director


Cloncarney Limited (Registered number: SC142832)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Cloncarney 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Heritable property - 2% on cost
Fittings and equipment - 15% on reducing balance

Stocks
Stock are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Cloncarney Limited (Registered number: SC142832)

Notes to the Financial Statements - continued
for the Year Ended 30 April 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 14 ) .

Cloncarney Limited (Registered number: SC142832)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Fittings
Heritable and
property equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 375,900 111,226 487,126
DEPRECIATION
At 1 May 2023 127,806 85,283 213,089
Charge for year 7,518 3,893 11,411
At 30 April 2024 135,324 89,176 224,500
NET BOOK VALUE
At 30 April 2024 240,576 22,050 262,626
At 30 April 2023 248,094 25,943 274,037

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors (6,331 ) 47,501

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 31,456 31,518
Trade creditors 27,988 34,566
Taxation and social security 8,981 23,244
Other creditors 45,466 25,243
113,891 114,571

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 258,602 278,619

Cloncarney Limited (Registered number: SC142832)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 62
Bank loans 290,058 310,075
290,058 310,137

The Bank Loan is secured by a standard security over the company's property and by a floating charge over the company's assets.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,513 4,929
Advance discount 6,000 12,000
11,513 16,929

Deferred
tax
£   
Balance at 1 May 2023 4,929
Provided during year 584
Balance at 30 April 2024 5,513

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100