Silverfin false 31/05/2023 01/06/2022 31/05/2023 Mr S C Cattanach 10/12/2003 Mrs S M Cattanach 10/12/2003 23 September 2023 The principal activity of the Company during the financial year continued to be the operation and management of a newsagent and general store. SC260625 2023-05-31 SC260625 bus:Director1 2023-05-31 SC260625 bus:Director2 2023-05-31 SC260625 2022-05-31 SC260625 core:CurrentFinancialInstruments 2023-05-31 SC260625 core:CurrentFinancialInstruments 2022-05-31 SC260625 core:ShareCapital 2023-05-31 SC260625 core:ShareCapital 2022-05-31 SC260625 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC260625 core:RetainedEarningsAccumulatedLosses 2022-05-31 SC260625 core:OtherPropertyPlantEquipment 2022-05-31 SC260625 core:OtherPropertyPlantEquipment 2023-05-31 SC260625 bus:OrdinaryShareClass1 2023-05-31 SC260625 2022-06-01 2023-05-31 SC260625 bus:FullAccounts 2022-06-01 2023-05-31 SC260625 bus:SmallEntities 2022-06-01 2023-05-31 SC260625 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 SC260625 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 SC260625 bus:Director1 2022-06-01 2023-05-31 SC260625 bus:Director2 2022-06-01 2023-05-31 SC260625 core:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 SC260625 2021-06-01 2022-05-31 SC260625 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 SC260625 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC260625 (Scotland)

S CATTANACH LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH THE REGISTRAR

S CATTANACH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023

Contents

S CATTANACH LIMITED

BALANCE SHEET

AS AT 31 MAY 2023
S CATTANACH LIMITED

BALANCE SHEET (continued)

AS AT 31 MAY 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,224 1,530
1,224 1,530
Current assets
Stocks 21,723 20,484
Debtors 4 4,304 13,207
Cash at bank and in hand 8,478 15,133
34,505 48,824
Creditors: amounts falling due within one year 5 ( 12,523) ( 17,655)
Net current assets 21,982 31,169
Total assets less current liabilities 23,206 32,699
Provision for liabilities 6 ( 233) ( 291)
Net assets 22,973 32,408
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 22,971 32,406
Total shareholders' funds 22,973 32,408

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of S Cattanach Limited (registered number: SC260625) were approved and authorised for issue by the Director on 23 September 2023. They were signed on its behalf by:

Mr S C Cattanach
Director
Mrs S M Cattanach
Director
S CATTANACH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
S CATTANACH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

S Cattanach Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Commerce House, South Street, Elgin, IV30 1JE, United Kingdom. The principal place of business is 71a High Street, ABERLOUR, AB38 9QB.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents amounts received, net of VAT, from the sale of newspapers, periodicals, groceries, and for income derived from the running of the post office.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 - 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors , are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 4

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 June 2022 9,887 9,887
At 31 May 2023 9,887 9,887
Accumulated depreciation
At 01 June 2022 8,357 8,357
Charge for the financial year 306 306
At 31 May 2023 8,663 8,663
Net book value
At 31 May 2023 1,224 1,224
At 31 May 2022 1,530 1,530

4. Debtors

2023 2022
£ £
Other debtors 4,304 13,207

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 7,521 9,592
Taxation and social security 624 3,315
Other creditors 4,378 4,748
12,523 17,655

6. Provision for liabilities

2023 2022
£ £
Deferred tax 233 291

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Mr Sean & Mrs Susan Cattanach 1,830 10,152

During the year the directors received advances of £9,658. Repayments totalled £17,980 with the balance due at the year end of £1,830. This amount is interest free and has no fixed terms of repayment.