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Registration number: SC625857

J.A.M.S. Carlogie Limited

Unaudited Financial Statements

for the Year Ended 31 March 2022

 

J.A.M.S. Carlogie Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

J.A.M.S. Carlogie Limited

(Registration number: SC625857)
Statement of Financial Position as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Investment property

4

842,381

842,381

Current assets

 

Debtors

5

1,718

1,231

Cash at bank and in hand

 

7,025

15,130

 

8,743

16,361

Creditors: Amounts falling due within one year

6

(248,435)

(257,868)

Net current liabilities

 

(239,692)

(241,507)

Total assets less current liabilities

 

602,689

600,874

Creditors: Amounts falling due after more than one year

6

(597,008)

(597,008)

Net assets

 

5,681

3,866

Capital and reserves

 

Called up share capital

20

20

Profit and loss account

5,661

3,846

Shareholders' funds

 

5,681

3,866

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 8 September 2022 and signed on its behalf by:
 

 

J.A.M.S. Carlogie Limited

(Registration number: SC625857)
Statement of Financial Position as at 31 March 2022

.........................................
Mr G M Strachan
Director

.........................................
Mrs G S Strachan
Director

 

J.A.M.S. Carlogie Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
29 Commercial Street
Dundee
Angus
DD1 3DG
Scotland

The principal place of business is:
36 Carlogie Road
Carnoustie
Angus
DD7 6HA
Scotland

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

J.A.M.S. Carlogie Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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 taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Income Statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2021 - 1).

 

J.A.M.S. Carlogie Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

4

Investment properties

2022
£

At 1 April

842,381

At 31 March

842,381

The last valuation of the properties was at 31 March 2021 by the directors and they are of the opinion that they are stated at fair value in these accounts.

5

Debtors

2022
£

2021
£

Trade debtors

1,000

500

Prepayments

718

731

1,718

1,231

 

J.A.M.S. Carlogie Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Taxation and social security

1,801

1,974

Accruals and deferred income

3,028

1,575

Other creditors

243,606

254,319

248,435

257,868

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

597,008

597,008

7

Dividends

Final dividends paid

   

2022
£

 

2021
£

Final dividend of £200 per each Ordinary A

 

2,000

 

2,000

Final dividend of £200 per each Ordinary B

 

2,000

 

2,000

   

4,000

 

4,000