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CNOC SOILLEIR LIMITED |
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Financial Statements for the Year Ended 31 July 2021 |
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REGISTERED NUMBER:
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CNOC SOILLEIR LIMITED |
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Financial Statements for the Year Ended 31 July 2021 |
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CNOC SOILLEIR LIMITED (REGISTERED NUMBER: SC635033) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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CNOC SOILLEIR LIMITED |
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Company Information |
for the Year Ended 31 July 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
26 Lewis Street |
Stornoway |
Isle of Lewis |
HS1 2JF |
CNOC SOILLEIR LIMITED (REGISTERED NUMBER: SC635033) |
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Balance Sheet |
31 July 2021 |
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31.7.21 | 31.7.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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ACCRUALS AND DEFERRED INCOME |
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NET LIABILITIES |
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RESERVES | - | - |
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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. |
CNOC SOILLEIR LIMITED (REGISTERED NUMBER: SC635033) |
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Balance Sheet - continued |
31 July 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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CNOC SOILLEIR LIMITED (REGISTERED NUMBER: SC635033) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2021 |
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1. | STATUTORY INFORMATION |
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Cnoc Soilleir Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Tangible fixed assets |
Depreciation on the Cnoc Soillier building will commence once construction is complete. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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CNOC SOILLEIR LIMITED (REGISTERED NUMBER: SC635033) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2021 |
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4. | TANGIBLE FIXED ASSETS |
Long |
leasehold |
£ |
COST |
At 1 August 2020 |
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Additions |
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At 31 July 2021 |
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NET BOOK VALUE |
At 31 July 2021 |
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At 31 July 2020 |
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Cnoc Soillier Limited has a lease from Stòras Uibhist of the the land identified as "Cnoc Soillier, Daliburgh, Isle of South Uist". This lease is due to expire on 5 July 2116. |
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Depreciation on the Cnoc Soillier building will commence once construction is complete. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.21 | 31.7.20 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.21 | 31.7.20 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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Pensions control account | 155 | 86 |
Deferred income |
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Accrued expenses |
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7. | RELATED PARTY DISCLOSURES |
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During the year under review the company received funds totalling £3,426 from Ceolas Uibhist Limited. |
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8. | ULTIMATE CONTROLLING PARTY |
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The company is controlled equally by Ceolas Uibhist Limited (company number SC216090) and The Board Of Management Of Lews Castle College UHI (incorporated under statute). |
CNOC SOILLEIR LIMITED (REGISTERED NUMBER: SC635033) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2021 |
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9. | REVENUE GRANTS |
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The following revenue grants were received during the year under review: |
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2021 | 2020 |
£ | £ |
Ceolas Uibhist | - | 20,000 |
Ceolas Uibhist (transferred from Capital Fund) | 10,000 | - |
HIE | 6,557 | 4,517 |
Bord na Gaidhlig | 21,000 | - |
Crown Estate | 29.600 | - |
HMRC - furlough | - | 3,100 |
67,157 | 27,617 |
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At the end of the year, the following grants received were treated as being in advance of expenditure being incurred: |
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38,226 | 3,925 |
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The following amounts were therefore recognised as income in the Profit & Loss account: |
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32,856 | 23,692 |
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10. | CAPITAL GRANTS |
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The following capital grants were received during the year under review: |
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2021 | 2020 |
£ | £ |
Ceolas Uibhist | 3,426 | 2,424,534 |
Ceolas Uibhist (transferred to Revenue Fund) | (10,000 | ) | - |
HIE | 385,878 | 107,239 |
Scottish Government | 200,000 | - |
Regeneration Capital Grant Fund - Comhairle nan Eilean Siar | 731,117 | 140,451 |
1,310,421 | 2,672,224 |
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At the end of the year, the following grants received were treated as being in advance of expenditure being incurred: |
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3,982,645 | 2,672,224 |
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The following amounts were therefore recognised as income in the Profit & Loss account: |
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