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Company registration number: SC243265
Caledonian Heating and Plumbing Limited
Unaudited filleted financial statements
31 March 2023
Caledonian Heating and Plumbing Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Caledonian Heating and Plumbing Limited
Directors and other information
Directors Moray Lamb
Amanda J Lamb
Secretary Amanda J Lamb
Company number SC243265
Registered office Unit 42
West Gorgie Park
Edinburgh
EH14 1UT
Accountants The Sinclair Partnership
4 Waukmill Drive
Blackford
Perthshire
PH4 1PT
Bankers Bank of Scotland
Caledonian Heating and Plumbing Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Caledonian Heating and Plumbing Limited
Year ended 31 March 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 Caledonian Heating and Plumbing Limited for the year ended 31 March 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
It is your duty to ensure that Caledonian Heating and Plumbing Limited 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 Caledonian Heating and Plumbing Limited. You consider that Caledonian Heating and Plumbing Limited 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 Caledonian Heating and Plumbing Limited. 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.
The Sinclair Partnership
Certified Practising Accountant
4 Waukmill Drive
Blackford
Perthshire
PH4 1PT
5 October 2023
Caledonian Heating and Plumbing Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 105,215 138,606
_______ _______
105,215 138,606
Current assets
Stocks 28,901 52,840
Debtors 6 730,518 520,754
Cash at bank and in hand 505,317 367,797
_______ _______
1,264,736 941,391
Creditors: amounts falling due
within one year 7 ( 540,110) ( 244,841)
_______ _______
Net current assets 724,626 696,550
_______ _______
Total assets less current liabilities 829,841 835,156
Creditors: amounts falling due
after more than one year 8 ( 41,496) ( 93,746)
Provisions for liabilities ( 9,656) ( 9,656)
_______ _______
Net assets 778,689 731,754
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 777,689 730,754
_______ _______
Shareholders funds 778,689 731,754
_______ _______
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.
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.
These financial statements were approved by the board of directors and authorised for issue on 05 October 2023 , and are signed on behalf of the board by:
Moray Lamb Amanda J Lamb
Director Director
Company registration number: SC243265
Caledonian Heating and Plumbing 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 Unit 42, West Gorgie Park, Edinburgh, EH14 1UT.
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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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:
Fittings fixtures and equipment - 20.00 % reducing balance
Motor vehicles - 25.00 % reducing balance
Computer and office equipment - 33.33 % straight line
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.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand includes cash and short term highly liquid investments.
Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 26 (2022: 27 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Computer and office equipment Total
£ £ £ £
Cost
At 1 April 2022 41,003 287,966 5,423 334,392
Additions - - 8,460 8,460
Disposals - ( 42,405) - ( 42,405)
_______ _______ _______ _______
At 31 March 2023 41,003 245,561 13,883 300,447
_______ _______ _______ _______
Depreciation
At 1 April 2022 36,323 154,740 4,723 195,786
Charge for the year 936 31,448 2,716 35,100
Disposals - ( 35,654) - ( 35,654)
_______ _______ _______ _______
At 31 March 2023 37,259 150,534 7,439 195,232
_______ _______ _______ _______
Carrying amount
At 31 March 2023 3,744 95,027 6,444 105,215
_______ _______ _______ _______
At 31 March 2022 4,680 133,226 700 138,606
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 729,425 516,936
Other debtors 1,093 3,818
_______ _______
730,518 520,754
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 221,371 138,530
Corporation tax 36,796 -
Social security and other taxes 111,736 40,221
Other creditors 160,207 56,090
_______ _______
540,110 244,841
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 22,500 32,500
Other creditors 18,996 61,246
_______ _______
41,496 93,746
_______ _______