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REGISTERED NUMBER: SC196483 (Scotland)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

John Callum Limited

John Callum Limited (Registered number: SC196483)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


John Callum Limited (Registered number: SC196483)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 663,233 414,995
Investments 6 1 1
Investment property 7 70,000 70,000
733,234 484,996

CURRENT ASSETS
Stocks 12,888 13,129
Debtors 8 778,805 524,234
Investments 9 299,142 305,000
Cash at bank 623,729 893,408
1,714,564 1,735,771
CREDITORS
Amounts falling due within one year 10 (81,985 ) (189,450 )
NET CURRENT ASSETS 1,632,579 1,546,321
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,365,813

2,031,317

PROVISIONS FOR LIABILITIES (127,488 ) (83,124 )
NET ASSETS 2,238,325 1,948,193

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,238,323 1,948,191
2,238,325 1,948,193

John Callum Limited (Registered number: SC196483)

Balance Sheet - continued
28 February 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 14 November 2023 and were signed by:





Mr P S Miller - Director


John Callum Limited (Registered number: SC196483)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

John Callum Limited is a private company, limited by shares, domiciled in Scotland, registration number SC196483. The registered office is Unit 51, Bandeath Industrial Est, Throsk, Stirling, FK9 7ND.

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.

Preparation of consolidated financial statements
The financial statements contain information about John Callum Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net invoiced sales of goods and services in respect of a potato merchant, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 20% on cost
Commercial vehicles - 15% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.


John Callum Limited (Registered number: SC196483)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Investment property
Investment property is included at fair value. Any surplus or deficit is recognised within the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the director this accounting policy is considered necessary to provide a true and fair view.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 16,630
AMORTISATION
At 1 March 2022
and 28 February 2023 16,630
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

John Callum Limited (Registered number: SC196483)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Commercial
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2022 84,991 68,386 14,130 418,399 585,906
Additions 70,781 847 336 257,000 328,964
Disposals - (10,990 ) (7,412 ) (91,717 ) (110,119 )
At 28 February 2023 155,772 58,243 7,054 583,682 804,751
DEPRECIATION
At 1 March 2022 2,491 45,060 9,478 113,882 170,911
Charge for year - 5,511 1,395 52,599 59,505
Eliminated on disposal - (10,990 ) (7,412 ) (70,496 ) (88,898 )
At 28 February 2023 2,491 39,581 3,461 95,985 141,518
NET BOOK VALUE
At 28 February 2023 153,281 18,662 3,593 487,697 663,233
At 28 February 2022 82,500 23,326 4,652 304,517 414,995

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2022
and 28 February 2023 1
NET BOOK VALUE
At 28 February 2023 1
At 28 February 2022 1

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 70,000
NET BOOK VALUE
At 28 February 2023 70,000
At 28 February 2022 70,000

John Callum Limited (Registered number: SC196483)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 103,013 99,750
Amounts owed by related parties 299,058 111,857
Other debtors 376,734 312,627
778,805 524,234

9. CURRENT ASSET INVESTMENTS
28.2.23 28.2.22
£    £   
Listed investments 299,142 305,000

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 64,323 168,085
Taxation and social security (5,636 ) 6,454
Other creditors 23,298 14,911
81,985 189,450

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
Mr P S Miller
Balance outstanding at start of year 244,967 287,107
Amounts advanced 188,209 98,860
Amounts repaid (200,500 ) (141,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 232,676 244,967

12. RELATED PARTY DISCLOSURES

Transactions and balances with entities with common control are as follows:

Management charges paid - £5,000 (2022: £5,000)