1 April 2022 false No description of principal activity Taxfiler 2023.9 SC243928business:PrivateLimitedCompanyLtd2022-04-012023-03-31 SC2439282022-03-31 SC2439282022-04-012023-03-31 SC243928business:AuditExemptWithAccountantsReport2022-04-012023-03-31 SC243928business:AbridgedAccounts2022-04-012023-03-31 SC2439282023-03-31 SC243928business:Director12022-04-012023-03-31 SC243928business:Director22022-04-012023-03-31 SC243928business:RegisteredOffice2022-04-012023-03-31 SC2439282022-03-31 SC243928core:WithinOneYear2023-03-31 SC243928core:WithinOneYear2022-03-31 SC243928core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 SC243928core:ShareCapitalcore:PreviouslyStatedAmount2022-03-31 SC243928core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 SC243928core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-03-31 SC243928core:PreviouslyStatedAmount2023-03-31 SC243928core:PreviouslyStatedAmount2022-03-31 SC243928business:SmallEntities2022-04-012023-03-31 SC243928countries:Scotland2022-04-012023-03-31 SC243928core:PlantMachinery2022-04-012023-03-31 SC243928core:MotorVehicles2022-04-012023-03-31 SC243928core:FurnitureFittings2022-04-012023-03-31 SC2439282021-04-012022-03-31 iso4217:GBP xbrli:pure
Company Registration No. SC243928 (Scotland)
M. Chisholm Transport Ltd. Unaudited accounts for the year ended 31 March 2023
M. Chisholm Transport Ltd. Unaudited accounts Contents
Page
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M. Chisholm Transport Ltd. Company Information for the year ended 31 March 2023
Directors
M Chisholm D Chisholm
Company Number
SC243928 (Scotland)
Registered Office
Druid Temple House Old Edinburgh Road South Inverness IV2 6AR
Accountants
CMM Accountancy (Inverness) Limited The Green House Beechwood Business Park North Inverness IV2 3BL
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M. Chisholm Transport Ltd. Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
210,998 
305,901 
Current assets
Debtors
10,828 
18,662 
Cash at bank and in hand
76,581 
29,940 
87,409 
48,602 
Creditors: amounts falling due within one year
(95,265)
(81,322)
Net current liabilities
(7,856)
(32,720)
Total assets less current liabilities
203,142 
273,181 
Provisions for liabilities
Deferred tax
(40,090)
(56,477)
Net assets
163,052 
216,704 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
162,952 
216,604 
Shareholders' funds
163,052 
216,704 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2023 and were signed on its behalf by
D Chisholm Director Company Registration No. SC243928
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M. Chisholm Transport Ltd. Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
M. Chisholm Transport Ltd. is a private company, limited by shares, registered in Scotland, registration number SC243928. The registered office is Druid Temple House, Old Edinburgh Road South, Inverness, IV2 6AR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Investments
Investments in shares are included at fair value.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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M. Chisholm Transport Ltd. Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2022
442,601 
Disposals
(89,607)
At 31 March 2023
352,994 
Depreciation
At 1 April 2022
136,700 
Charge for the year
27,275 
On disposals
(21,979)
At 31 March 2023
141,996 
Net book value
At 31 March 2023
210,998 
At 31 March 2022
305,901 
5
Average number of employees
During the year the average number of employees was 0 (2022: 1).
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