McCallum Ceilings (Scotland) Ltd SC626719 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is that of supplying and fitting suspended ceilings. Digita Accounts Production Advanced 6.30.9574.0 true SC626719 2022-05-01 2023-04-30 SC626719 2023-04-30 SC626719 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC626719 core:ShareCapital 2023-04-30 SC626719 core:CurrentFinancialInstruments 2023-04-30 SC626719 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 SC626719 core:MotorVehicles 2023-04-30 SC626719 core:OfficeEquipment 2023-04-30 SC626719 core:PlantMachinery 2023-04-30 SC626719 bus:SmallEntities 2022-05-01 2023-04-30 SC626719 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 SC626719 bus:FullAccounts 2022-05-01 2023-04-30 SC626719 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 SC626719 bus:RegisteredOffice 2022-05-01 2023-04-30 SC626719 bus:Director1 2022-05-01 2023-04-30 SC626719 bus:Director2 2022-05-01 2023-04-30 SC626719 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 SC626719 bus:Agent1 2022-05-01 2023-04-30 SC626719 core:ComputerEquipment 2022-05-01 2023-04-30 SC626719 core:MotorVehicles 2022-05-01 2023-04-30 SC626719 core:OfficeEquipment 2022-05-01 2023-04-30 SC626719 core:PlantMachinery 2022-05-01 2023-04-30 SC626719 countries:Scotland 2022-05-01 2023-04-30 SC626719 2022-04-30 SC626719 core:MotorVehicles 2022-04-30 SC626719 core:OfficeEquipment 2022-04-30 SC626719 core:PlantMachinery 2022-04-30 SC626719 2021-05-01 2022-04-30 SC626719 2022-04-30 SC626719 core:RetainedEarningsAccumulatedLosses 2022-04-30 SC626719 core:ShareCapital 2022-04-30 SC626719 core:CurrentFinancialInstruments 2022-04-30 SC626719 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 SC626719 core:MotorVehicles 2022-04-30 SC626719 core:OfficeEquipment 2022-04-30 SC626719 core:PlantMachinery 2022-04-30 iso4217:GBP xbrli:pure

Registration number: SC626719

McCallum Ceilings (Scotland) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

McCallum Ceilings (Scotland) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

Accountants' Report

8

 

McCallum Ceilings (Scotland) Ltd

Company Information

Directors

Mr John McCallum

Mrs Clayre McCallum

Registered office

Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

Accountants

Yates & Co CA
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

McCallum Ceilings (Scotland) Ltd

(Registration number: SC626719)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

57,140

50,357

Current assets

 

Stocks

5

23,850

17,596

Debtors

6

58,544

31,503

Cash at bank and in hand

 

37,885

16,997

 

120,279

66,096

Creditors: Amounts falling due within one year

7

(66,168)

(41,934)

Net current assets

 

54,111

24,162

Total assets less current liabilities

 

111,251

74,519

Provisions for liabilities

(10,856)

(9,568)

Net assets

 

100,395

64,951

Capital and reserves

 

Called up share capital

100

100

Retained earnings

100,295

64,851

Shareholders' funds

 

100,395

64,951

For the financial year ending 30 April 2023 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 August 2023 and signed on its behalf by:
 

.........................................
Mr John McCallum
Director

 

McCallum Ceilings (Scotland) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

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

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, 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.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

McCallum Ceilings (Scotland) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Plant and machinery

25% reducing balance

Office Equipment

33% Straight Line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, 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.

 

 

McCallum Ceilings (Scotland) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

3

Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

5,092

1,637

62,491

69,220

Additions

1,478

403

24,412

26,293

At 30 April 2023

6,570

2,040

86,903

95,513

Depreciation

At 1 May 2022

2,020

1,220

15,623

18,863

Charge for the year

1,137

553

17,820

19,510

At 30 April 2023

3,157

1,773

33,443

38,373

Carrying amount

At 30 April 2023

3,413

267

53,460

57,140

At 30 April 2022

3,072

417

46,868

50,357

5

Stocks

2023
£

2022
£

Work in progress

8,850

10,596

Other inventories

15,000

7,000

23,850

17,596

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

42,494

31,503

Amounts owed by related parties

9

6,000

-

Other debtors

 

10,050

-

   

58,544

31,503

 

McCallum Ceilings (Scotland) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

32,171

6,332

Taxation and social security

30,376

32,031

Other creditors

3,621

3,571

66,168

41,934

8

Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
 

2023
 £

2022
 £

Within one year

8,118

8,118

Between one and five years

3,383

12,177

11,501

20,295

 

McCallum Ceilings (Scotland) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

9

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

2023
 £

2022
 £

Mr J McCallum

60

157

Mrs C McCallum

61

158

 

121

315

The maximum balance outstanding during the year amounted to £315.

The directors current accounts are repayable on demand.

Other debtors include an amount of £6,000 (2022: £nil) which is owed by a related company, McCallum Properties (Scotland) Ltd, in which Mr and Mrs McCallum were also directors.

The above loan is repayable on demand.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
McCallum Ceilings (Scotland) Ltd
for the Year Ended 30 April 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of McCallum Ceilings (Scotland) Ltd for the year ended 30 April 2023 as set out on pages 2 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of McCallum Ceilings (Scotland) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of McCallum Ceilings (Scotland) Ltd and state those matters that we have agreed to state to the Board of Directors of McCallum Ceilings (Scotland) Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than McCallum Ceilings (Scotland) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that McCallum Ceilings (Scotland) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of McCallum Ceilings (Scotland) Ltd. You consider that McCallum Ceilings (Scotland) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of McCallum Ceilings (Scotland) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Yates & Co CA
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

29 August 2023