Camcris Property Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC627799 (Scotland)

Unaudited Financial Statements for the Year Ended 30 April 2022

for

Camcris Property Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G McKnight

Mrs C A Mcknight

REGISTERED OFFICE:

5th Floor Moncrieff House

69 West Nile Street

Glasgow

G1 2LT

REGISTERED NUMBER:

SC627799 (Scotland)

ACCOUNTANTS:

McDougall Johnstone

280a St Vincent Street

Glasgow

G2 5RL

FIXED ASSETS

Tangible assets

4

4,729

2,829

Investment property

5

355,380

355,380

360,109

358,209

CURRENT ASSETS

Debtors

3,559

-

Cash at bank

8,360

5,549

11,919

5,549

CREDITORS

Amounts falling due within one year

(126,387

)

(119,513

)

NET CURRENT LIABILITIES

(114,468

)

(113,964

)

TOTAL ASSETS LESS CURRENT LIABILITIES

245,641

244,245

CREDITORS

Amounts falling due after more than one year

6

(246,620

)

(246,620

)

NET LIABILITIES

(979

)

(2,375

)

CAPITAL AND RESERVES

Called up share capital

20

100

Retained earnings

(999

)

(2,475

)

(979

)

(2,375

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 21 December 2022 and were signed on its behalf by:

G McKnight - Director

1.	STATUTORY INFORMATION

Camcris Property 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.	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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

10% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2021

3,500

Additions

2,500

At 30 April 2022

6,000

DEPRECIATION

At 1 May 2021

671

Charge for year

600

At 30 April 2022

1,271

NET BOOK VALUE

At 30 April 2022

4,729

At 30 April 2021

2,829

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2021

and 30 April 2022

355,380

NET BOOK VALUE

At 30 April 2022

355,380

At 30 April 2021

355,380

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2022

2021

£

£

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

246,620

246,620

7.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

246,620

246,620

The Mortgage Works (UK) plc have a fixed security over Investment Property owned by the company.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end there is a balance owed to the director by the company of £13,042 (2021: £7,983)

9.	RELATED PARTY DISCLOSURES

At the year end, amounts due to the following companies of which Graham McKnight is the director were as follows:

Morton Hill Limited - £111,925 (2021: £108,665)

At the year end, amounts due from the following companies of which Graham McKnight is the director were as follows:

The McKnight Financial Group Limited - £3,559 (2021: £1,545)