ACCOUNTS - Final Accounts

CANMORE HOMES LIMITED - Company Information

Caseware UK (AP4) 2019.0.131 2019.0.131 2019-06-302019-06-302018-07-01No description of principal activityfalsefalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC088737 2018-07-01 2019-06-30 SC088737 2019-06-30 SC088737 2018-06-30 SC088737 c:CompanySecretary1 2018-07-01 2019-06-30 SC088737 c:Director1 2018-07-01 2019-06-30 SC088737 c:RegisteredOffice 2018-07-01 2019-06-30 SC088737 d:PlantMachinery 2018-07-01 2019-06-30 SC088737 d:PlantMachinery 2019-06-30 SC088737 d:PlantMachinery 2018-06-30 SC088737 d:PlantMachinery d:OwnedOrFreeholdAssets 2018-07-01 2019-06-30 SC088737 d:FurnitureFittings 2018-07-01 2019-06-30 SC088737 d:FurnitureFittings 2019-06-30 SC088737 d:FurnitureFittings 2018-06-30 SC088737 d:FurnitureFittings d:OwnedOrFreeholdAssets 2018-07-01 2019-06-30 SC088737 d:OwnedOrFreeholdAssets 2018-07-01 2019-06-30 SC088737 d:FreeholdInvestmentProperty 2018-07-01 2019-06-30 SC088737 d:FreeholdInvestmentProperty 2019-06-30 SC088737 d:FreeholdInvestmentProperty 2018-06-30 SC088737 d:CurrentFinancialInstruments 2019-06-30 SC088737 d:CurrentFinancialInstruments 2018-06-30 SC088737 d:CurrentFinancialInstruments d:WithinOneYear 2019-06-30 SC088737 d:CurrentFinancialInstruments d:WithinOneYear 2018-06-30 SC088737 d:ShareCapital 2019-06-30 SC088737 d:ShareCapital 2018-06-30 SC088737 d:RevaluationReserve 2019-06-30 SC088737 d:RevaluationReserve 2018-06-30 SC088737 d:RetainedEarningsAccumulatedLosses 2019-06-30 SC088737 d:RetainedEarningsAccumulatedLosses 2018-06-30 SC088737 c:OrdinaryShareClass1 2018-07-01 2019-06-30 SC088737 c:OrdinaryShareClass1 2019-06-30 SC088737 c:FRS102 2018-07-01 2019-06-30 SC088737 c:AuditExempt-NoAccountantsReport 2018-07-01 2019-06-30 SC088737 c:FullAccounts 2018-07-01 2019-06-30 SC088737 c:PrivateLimitedCompanyLtd 2018-07-01 2019-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: SC088737

CANMORE HOMES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

CANMORE HOMES LIMITED

COMPANY INFORMATION

Director	David Reddie


Company secretary	Margaret Reddie


Registered number	SC088737


Registered office	7 Guildry Grove
	Dunfermline
	Fife
	KY12 7TR


Accountants	EQ Accountants LLP
	Chartered Accountants
	Pentland House
	Saltire Centre
	Glenrothes
	Fife
	KY6 2AH

CANMORE HOMES LIMITED

REGISTERED NUMBER: SC088737

STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2019

		2019		2018
		£		£

Fixed assets
Tangible assets	4		-		964
Investment property	5		-		90,000
			-		90,964
Current assets
Debtors: amounts falling due within one year	6	592		1,440
Cash at bank and in hand		78,356		54,751
		78,948		56,191
Creditors: amounts falling due within one year	7	(1,317)		(1,317)
Net current assets			77,631		54,874
Total assets less current liabilities			77,631		145,838

Net assets			77,631		145,838

Capital and reserves
Called up share capital	8	500	500
Profit and loss account - non distributable		-	11,085
Profit and loss account		77,131	134,253
		77,631	145,838

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CANMORE HOMES LIMITED

REGISTERED NUMBER: SC088737

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 JUNE 2019

The director considers 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 director acknowledges his 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 comprehensive income 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 31 December 2019.

David Reddie

Director

The notes on pages 3 to 6 form part of these financial statements.

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CANMORE HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

1.	General information

Canmore Homes Limited is a private company, limited by shares and incorporated in Scotland, registration number SC088737. The registered office address is 7 Guildry Grove, Dunfermline, Fife, KY12 7TR.
The financial statement 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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Turnover

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:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Taxation

Tax is recognised in the Statement of comprehensive income, 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 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.

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CANMORE HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

2.Accounting policies (continued)

2.4

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

				Plant and machinery	-	25% reducing balance
				Fixtures and fittings	-	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 the Statement of comprehensive income.

2.5

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2018 - 1).

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CANMORE HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

4.	Tangible fixed assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£

At 1 July 2018	3,660	67,592	71,252
Disposals	(3,660)	(67,592)	(71,252)
At 30 June 2019	-	-	-

At 1 July 2018	3,385	66,903	70,288
Charge for the year	39	98	137
Disposals	(3,424)	(67,001)	(70,425)
At 30 June 2019	-	-	-
Net book value
At 30 June 2019	-	-	-
At 30 June 2018	275	689	964

5.	Investment property

		Freehold investment property
		£

	At 1 July 2018	90,000
	Disposals	(90,000)
	At 30 June 2019	-

The 2019 valuations were made by the director, on an open market value for existing use basis.

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CANMORE HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

Debtors

					2019	2018
					£	£


Other debtors	592	970
Prepayments and accrued income	-	470
	592	1,440

Included within other debtors due within one year is a loan to Mr D Reddie, a director, amounting to £592 (2018 - £970).

7.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

	Accruals and deferred income	1,317	1,317

8.	Share capital
		2019	2018
		£	£

Allotted, called up and fully paid

500 Ordinary shares of £1.00 each	500	500

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