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No description of principal activities is disclosed
2022-06-01
Sage Accounts Production 21.0 - FRS102_2021
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Company registration number:
SC699669
Caldwell & Caldwell (Stirling) Ltd
Unaudited filleted financial statements
31 May 2023
Caldwell & Caldwell (Stirling) Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Caldwell & Caldwell (Stirling) Ltd
Directors and other information
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Directors |
Mr Alan Caldwell |
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|
Mrs Claire Caldwell |
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Company number |
SC699669 |
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Registered office |
16-18 Weir Street |
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|
Falkirk |
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Scotland |
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|
FK1 1RA |
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Business address |
Colquhoun Street |
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|
Stirling |
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Scotland |
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FK7 7PX |
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Accountants |
Barrie Scott & Co. |
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16-18 Weir Street |
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Falkirk |
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Scotland |
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FK1 1RA |
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Caldwell & Caldwell (Stirling) Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Caldwell & Caldwell (Stirling) Ltd
Year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Caldwell & Caldwell (Stirling) Ltd for the year ended 31 May 2023 which comprise the statement of financial position, statement of changes in equity and related notes 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 Caldwell & Caldwell (Stirling) 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 financial statements of Caldwell & Caldwell (Stirling) Ltd and state those matters that we have agreed to state to the board of directors of Caldwell & Caldwell (Stirling) 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 Caldwell & Caldwell (Stirling) Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Caldwell & Caldwell (Stirling) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Caldwell & Caldwell (Stirling) Ltd. You consider that Caldwell & Caldwell (Stirling) 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 financial statements of Caldwell & Caldwell (Stirling) 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 financial statements.
Barrie Scott & Co.
Accountants & Tax Advisers
16-18 Weir Street
Falkirk
Scotland
FK1 1RA
7 November 2023
Caldwell & Caldwell (Stirling) Ltd
Statement of financial position
31 May 2023
|
|
|
31/05/23 |
|
|
|
31/05/22 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
15,670 |
|
|
|
11,012 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
15,670 |
|
|
|
11,012 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
5,000 |
|
|
|
5,000 |
|
|
Cash at bank and in hand |
|
|
237,036 |
|
|
|
163,772 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
242,036 |
|
|
|
168,772 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
6 |
(
119,013) |
|
|
|
(
81,877) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
123,023 |
|
|
|
86,895 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
138,693 |
|
|
|
97,907 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
138,693 |
|
|
|
97,907 |
|
|
|
|
|
_______ |
|
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|
_______ |
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Capital and reserves |
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Called up share capital |
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|
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2 |
|
|
|
2 |
Profit and loss account |
|
|
|
|
138,691 |
|
|
|
97,905 |
|
|
|
|
|
_______ |
|
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|
_______ |
Shareholders funds |
|
|
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|
138,693 |
|
|
|
97,907 |
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|
|
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|
_______ |
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_______ |
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For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
25 October 2023
, and are signed on behalf of the board by:
Mr Alan Caldwell
Director
Company registration number:
SC699669
Caldwell & Caldwell (Stirling) Ltd
Notes to the financial statements
Year ended 31 May 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 16-18 Weir Street, Falkirk, Scotland, FK1 1RA.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
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|
Fittings fixtures and equipment |
- |
20 % |
reducing balance |
|
Tennant Improvement |
- |
20 % |
reducing balance |
|
|
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|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4.
Staff costs
The average number of persons employed by the company during the year amounted to
28
(2022:
21
).
The aggregate payroll costs incurred during the year were:
|
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|
Year |
Period |
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|
ended |
ended |
|
|
|
31/05/23 |
31/05/22 |
|
|
|
£ |
£ |
|
Wages and salaries |
|
348,091 |
251,774 |
|
Social security costs |
|
11,156 |
10,252 |
|
Other pension costs |
|
3,909 |
3,480 |
|
|
|
_______ |
_______ |
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|
363,156 |
265,506 |
|
|
|
_______ |
_______ |
|
|
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5.
Tangible assets
|
|
Fixtures, fittings and equipment |
Tennant Improvemts |
Total |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 June 2022 |
3,605 |
10,160 |
13,765 |
|
|
|
|
Additions |
8,576 |
- |
8,576 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
At 31 May 2023 |
12,181 |
10,160 |
22,341 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
At 1 June 2022 |
721 |
2,032 |
2,753 |
|
|
|
|
Charge for the year |
2,292 |
1,626 |
3,918 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
At 31 May 2023 |
3,013 |
3,658 |
6,671 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 May 2023 |
9,168 |
6,502 |
15,670 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
At 31 May 2022 |
2,884 |
8,128 |
11,012 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
31/05/23 |
31/05/22 |
|
|
|
£ |
£ |
|
Trade creditors |
|
29,714 |
7,020 |
|
Corporation tax |
|
49,805 |
28,246 |
|
Social security and other taxes |
|
27,214 |
24,092 |
|
Other creditors |
|
12,280 |
22,519 |
|
|
|
_______ |
_______ |
|
|
|
119,013 |
81,877 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Controlling Party
The company is controlled by Mr & Mrs Caldwell by virtue of their combined majority shareholding.