Cruachan Property Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC457827 (Scotland)

Unaudited Financial Statements

For The Year Ended 30th September 2023

for

Cruachan Property Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

B J McKellar

R J Paterson

D J Rolwegan

SECRETARY:

REGISTERED OFFICE:

10 Newton Place

Glasgow

Lanarkshire

G3 7PR

REGISTERED NUMBER:

SC457827 (Scotland)

ACCOUNTANTS:

J S Mackie & Co Ltd

8 Douglas Street

Hamilton

Lanarkshire

ML3 0BP

FIXED ASSETS

Tangible assets

4

637,487

1,189,359

CURRENT ASSETS

Debtors

5

244,491

315,603

Cash at bank and in hand

8,657

9,355

253,148

324,958

CREDITORS

Amounts falling due within one year

6

(869,920

)

(968,956

)

NET CURRENT LIABILITIES

(616,772

)

(643,998

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20,715

545,361

CAPITAL AND RESERVES

Called up share capital

150

150

Revaluation reserve

7

23,559

553,559

Retained earnings

(2,994

)

(8,348

)

SHAREHOLDERS' FUNDS

20,715

545,361

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2023 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.

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 15th May 2024 and were signed on its behalf by:

B J McKellar - Director

1.	STATUTORY INFORMATION

Cruachan 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.

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.

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

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st October 2022

1,080,000

144,438

1,224,438

Disposals

(530,000

)

-

(530,000

)

At 30th September 2023

550,000

144,438

694,438

DEPRECIATION

At 1st October 2022

-

35,079

35,079

Charge for year

-

21,872

21,872

At 30th September 2023

-

56,951

56,951

NET BOOK VALUE

At 30th September 2023

550,000

87,487

637,487

At 30th September 2022

1,080,000

109,359

1,189,359

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

854

24

Amounts owed by group undertakings

243,530

-

Other debtors

107

315,579

244,491

315,603

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

6,206

251,563

Trade creditors

1,622

(105

)

Amounts owed to group undertakings

572,335

514,001

Taxation and social security

2,768

3,497

Other creditors

286,989

200,000

869,920

968,956

7.

RESERVES

Revaluation

reserve

£

At 1st October 2022

553,559

Revaluation of fixed assets

(530,000

)

At 30th September 2023

23,559

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30th September 2023 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

J S Mackie & Co Ltd

8 Douglas Street

Hamilton

Lanarkshire

ML3 0BP

15th May 2024