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REGISTERED NUMBER: SC547388 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

CAIRNROWAN CUSTOM HOMES LTD

CAIRNROWAN CUSTOM HOMES LTD (REGISTERED NUMBER: SC547388)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CAIRNROWAN CUSTOM HOMES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: G F Davidson





SECRETARY: Mrs K E Davidson





REGISTERED OFFICE: 2 Home Farm Cottages
Udny Green
Ellon
Aberdeenshire
AB41 7RQ





REGISTERED NUMBER: SC547388 (Scotland)

CAIRNROWAN CUSTOM HOMES LTD (REGISTERED NUMBER: SC547388)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,982,971 1,766,103
Investment property 6 475,000 430,000
2,457,971 2,196,103

CURRENT ASSETS
Stocks 30,000 50,173
Debtors 7 3,726,971 3,170,695
Investments 8 50 50
Cash at bank and in hand 207,910 410,168
3,964,931 3,631,086
CREDITORS
Amounts falling due within one year 9 2,332,096 2,628,375
NET CURRENT ASSETS 1,632,835 1,002,711
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,090,806

3,198,814

CREDITORS
Amounts falling due after more than one
year

10

(1,282,779

)

(781,034

)

PROVISIONS FOR LIABILITIES (510,182 ) (477,775 )
NET ASSETS 2,297,845 1,940,005

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 12 68,996 134,643
Retained earnings 2,228,749 1,805,262
SHAREHOLDERS' FUNDS 2,297,845 1,940,005

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

CAIRNROWAN CUSTOM HOMES LTD (REGISTERED NUMBER: SC547388)

BALANCE SHEET - continued
31 AUGUST 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 19 May 2025 and were signed by:





G F Davidson - Director


CAIRNROWAN CUSTOM HOMES LTD (REGISTERED NUMBER: SC547388)

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

1. STATUTORY INFORMATION

Cairnrowan Custom Homes 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The director considers that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on reducing balance

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.

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


CAIRNROWAN CUSTOM HOMES LTD (REGISTERED NUMBER: SC547388)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 28 ) .

CAIRNROWAN CUSTOM HOMES LTD (REGISTERED NUMBER: SC547388)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 2,410,736
Additions 1,232,802
Disposals (894,696 )
At 31 August 2024 2,748,842
DEPRECIATION
At 1 September 2023 644,633
Charge for year 352,254
Eliminated on disposal (231,016 )
At 31 August 2024 765,871
NET BOOK VALUE
At 31 August 2024 1,982,971
At 31 August 2023 1,766,103

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2023 1,368,427
Additions 1,221,637
Disposals (536,000 )
Transfer to ownership (41,000 )
At 31 August 2024 2,013,064
DEPRECIATION
At 1 September 2023 293,688
Charge for year 261,464
Eliminated on disposal (195,309 )
Transfer to ownership (15,635 )
At 31 August 2024 344,208
NET BOOK VALUE
At 31 August 2024 1,668,856
At 31 August 2023 1,074,739

CAIRNROWAN CUSTOM HOMES LTD (REGISTERED NUMBER: SC547388)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 430,000
Additions 132,530
Revaluations (87,530 )
At 31 August 2024 475,000
NET BOOK VALUE
At 31 August 2024 475,000
At 31 August 2023 430,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2022 179,524
Valuation in 2024 (87,530 )
Cost 383,006
475,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 383,006 250,476

Investment property was valued on an open market basis on 31 August 2024 by the director .

The director believes that this is a fair reflection of the current market value at 31 August 2024. Deferred tax has been recognised on the revaluation amounting to £22,998 (2023 - £44,881).

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 436,272 2,058,593
Amounts recoverable on contract 437,926 45,748
Other debtors 2,852,773 1,066,354
3,726,971 3,170,695

8. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 50 50

CAIRNROWAN CUSTOM HOMES LTD (REGISTERED NUMBER: SC547388)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 20,930 19,955
Hire purchase contracts 440,055 347,416
Trade creditors 349,846 811,842
Taxation and social security 71,330 52,181
Other creditors 1,449,935 1,396,981
2,332,096 2,628,375

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 279,291 300,760
Hire purchase contracts 704,718 353,076
Other creditors 298,770 127,198
1,282,779 781,034

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 228,438 241,786

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 300,221 320,715
Hire purchase contracts 1,144,773 700,492
1,444,994 1,021,207

12. RESERVES
Revaluation
reserve
£   
At 1 September 2023 134,643
Revaluation in year (87,530 )
Deferred tax on revaluation 21,883

At 31 August 2024 68,996

13. PENSION COMMITMENTS

Included within Other creditors are outstanding pension contributions of £4,233 (2023 - £4,643).

CAIRNROWAN CUSTOM HOMES LTD (REGISTERED NUMBER: SC547388)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

14. ULTIMATE CONTROLLING PARTY

The controlling party is G F Davidson.