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COMPANY REGISTRATION NUMBER: SC362480
Callendar Estate (Biomass) Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2023
Callendar Estate (Biomass) Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
308,245
357,568
Current assets
Stocks
15,696
49,800
Debtors
5
20,111
20,244
Cash at bank and in hand
149,356
72,900
---------
---------
185,163
142,944
Creditors: amounts falling due within one year
6
139,581
120,541
---------
---------
Net current assets
45,582
22,403
---------
---------
Total assets less current liabilities
353,827
379,971
---------
---------
Net assets
353,827
379,971
---------
---------
Capital and reserves
Called up share capital
460,000
460,000
Profit and loss account
( 106,173)
( 80,029)
---------
---------
Shareholders funds
353,827
379,971
---------
---------
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 income and retained earnings has not been delivered.
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.
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 .
Callendar Estate (Biomass) Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 9 August 2023 , and are signed on behalf of the board by:
A. G. Wedderburn
Director
Company registration number: SC362480
Callendar Estate (Biomass) Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Callendar Estate Office, Slamannan Road, Falkirk, FK1 5LX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
Plant & Machinery
-
10% straight line
Equipment
-
10% straight line
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 stock to its present location and condition.
4. Tangible assets
Plant and machinery
Equipment
Biomass Shed
Total
£
£
£
£
Cost
At 1 April 2022
66,715
546,174
116,494
729,383
Additions
3,408
8,900
12,308
--------
---------
---------
---------
At 31 March 2023
66,715
549,582
125,394
741,691
--------
---------
---------
---------
Depreciation
At 1 April 2022
53,372
318,443
371,815
Charge for the year
6,672
54,959
61,631
--------
---------
---------
---------
At 31 March 2023
60,044
373,402
433,446
--------
---------
---------
---------
Carrying amount
At 31 March 2023
6,671
176,180
125,394
308,245
--------
---------
---------
---------
At 31 March 2022
13,343
227,731
116,494
357,568
--------
---------
---------
---------
5. Debtors
2023
2022
£
£
Trade debtors
14,650
15,724
Other debtors
5,461
4,520
--------
--------
20,111
20,244
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
22,666
3,701
Other creditors
116,915
116,840
---------
---------
139,581
120,541
---------
---------
7. Related party transactions
As at 31 March 2023 there was an outstanding loan due to Callendar No 3 Trust. The balance at 31 March 2023 was £95,000 (2022: £95,000). The loan is interest free. In addition there was further £20,340 (2022: £20,350) due to Callendar No 3 Trust in respect of a Vat liability paid by the Trust.