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CIB INVESTMENTS LTD

Registered Number
SC606192
(Scotland)

Unaudited Financial Statements for the Year ended
31 August 2024

CIB INVESTMENTS LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

CARPENTER, Adam Richard
CARPENTER, Karen Michelle

Registered Address

9 Royal Crescent
Glasgow
G3 7SP

Registered Number

SC606192 (Scotland)
CIB INVESTMENTS LTD
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property31,600,0001,270,000
1,600,0001,270,000
Current assets
Debtors48774,002
Cash at bank and on hand11,64628,541
12,52332,543
Creditors amounts falling due within one year5(245,272)(191,894)
Net current assets (liabilities)(232,749)(159,351)
Total assets less current liabilities1,367,2511,110,649
Creditors amounts falling due after one year6(1,024,728)(820,153)
Provisions for liabilities8(48,008)-
Net assets294,515290,496
Capital and reserves
Called up share capital22
Revaluation reserve204,664220,901
Profit and loss account89,84969,593
Shareholders' funds294,515290,496
The financial statements were approved and authorised for issue by the Board of Directors on 1 May 2025, and are signed on its behalf by:
CARPENTER, Adam Richard
Director
Registered Company No. SC606192
CIB INVESTMENTS LTD
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention, as modified by the revaluation of certain assets, and in accordance with FRS 102 the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents the value of rental income receivable for the year.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year00
3.Investment property
The properties were revalued by the directors at the year end.

£
Fair value at 01 September 231,270,000
Additions298,229
Fair value adjustments31,771
At 31 August 241,600,000
4.Debtors: amounts due within one year

2024

2023

££
Other debtors-4,002
Prepayments and accrued income877-
Total8774,002
Other debtors represented the amount due from the directors. This amount was interest free and repayable on demand.
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security2,557-
Other creditors241,785190,937
Accrued liabilities and deferred income930957
Total245,272191,894
Other creditors includes £1,240 (2023: nil) due to the directors, this amount is interest free and repayable on demand.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,024,728820,153
Total1,024,728820,153
7.Secured creditors
The properties are held as security for the bank loans.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)48,008-
Total48,008-
9.Related party transactions
The loan balance due to the directors amounted to £1,240 (2023: £4,002 due from the directors) at the year end.