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REGISTERED NUMBER: SC437650 (Scotland)















Financial Statements for the Year Ended 31 January 2023

for

Caithness Chemicals (Wick) Limited

Caithness Chemicals (Wick) Limited (Registered number: SC437650)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Caithness Chemicals (Wick) Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: G Graham
J W Mackay





REGISTERED OFFICE: Unit 43 Airport Industrial Estate
Wick Airport
Wick
Caithness
KW1 4QS





REGISTERED NUMBER: SC437650 (Scotland)





ACCOUNTANTS: Reid & Fraser
Chartered Accountants
15 Princes Street
Thurso
Caithness
KW14 7BQ

Caithness Chemicals (Wick) Limited (Registered number: SC437650)

Balance Sheet
31 January 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 58,333 70,000
Tangible assets 5 153,057 153,684
211,390 223,684

CURRENT ASSETS
Stocks 25,346 28,181
Debtors 6 101,604 105,033
Cash at bank and in hand 2,071 10,085
129,021 143,299
CREDITORS
Amounts falling due within one year 7 (97,178 ) (92,733 )
NET CURRENT ASSETS 31,843 50,566
TOTAL ASSETS LESS CURRENT
LIABILITIES

243,233

274,250

CREDITORS
Amounts falling due after more than one
year

8

(150,750

)

(162,750

)
NET ASSETS 92,483 111,500

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 92,481 111,498
SHAREHOLDERS' FUNDS 92,483 111,500

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Caithness Chemicals (Wick) Limited (Registered number: SC437650)

Balance Sheet - continued
31 January 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2023 and were signed on its behalf by:





J W Mackay - Director


Caithness Chemicals (Wick) Limited (Registered number: SC437650)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Caithness Chemicals (Wick) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of fifteen years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% reducing balance
Computer equipment - 25% straight line

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Caithness Chemicals (Wick) Limited (Registered number: SC437650)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 175,000
AMORTISATION
At 1 February 2022 105,000
Charge for year 11,667
At 31 January 2023 116,667
NET BOOK VALUE
At 31 January 2023 58,333
At 31 January 2022 70,000

5. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 February 2022
and 31 January 2023 150,000 15,000 422 165,422
DEPRECIATION
At 1 February 2022 - 11,526 212 11,738
Charge for year - 521 106 627
At 31 January 2023 - 12,047 318 12,365
NET BOOK VALUE
At 31 January 2023 150,000 2,953 104 153,057
At 31 January 2022 150,000 3,474 210 153,684

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,736 28,251
Amounts owed by associates 84,868 76,557
Other debtors - 225
101,604 105,033

Caithness Chemicals (Wick) Limited (Registered number: SC437650)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 25,000 25,000
Trade creditors 8,817 5,979
Other creditors 54,491 57,081
Directors' current accounts 2,798 2,798
Accrued expenses 6,072 1,875
97,178 92,733

Other creditors include £53,907 (2022 - £54,497) in respect of taxation and social security.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years 25,000 25,000
Other loans - 2-5 years 75,000 75,000
Other loans more 5yrs instal 50,750 62,750
150,750 162,750

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 50,750 62,750