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REGISTERED NUMBER: SC157655 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

CALEDONIAN DISCOVERY LIMITED

CALEDONIAN DISCOVERY LIMITED (REGISTERED NUMBER: SC157655)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CALEDONIAN DISCOVERY LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2023







DIRECTOR: Martin Alan Balcombe





SECRETARY: Caroline Jane Balcombe





REGISTERED OFFICE: Unit 2
Annat Point Industrial Estate
Corpach
Fort William
PH33 7NA





REGISTERED NUMBER: SC157655 (Scotland)





ACCOUNTANTS: R A Clement Associates
Chartered Accountants
Argyll Square
Oban
Argyll
PA34 4AZ

CALEDONIAN DISCOVERY LIMITED (REGISTERED NUMBER: SC157655)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 804,748 820,297

CURRENT ASSETS
Stocks 200 -
Debtors 5 3,323 2,846
Prepayments and accrued income 5,193 1,903
Cash at bank and in hand 52,133 92,758
60,849 97,507
CREDITORS
Amounts falling due within one year 6 435,416 467,542
NET CURRENT LIABILITIES (374,567 ) (370,035 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

430,181

450,262

CREDITORS
Amounts falling due after more than one
year

7

(23,405

)

(47,871

)

PROVISIONS FOR LIABILITIES (70,992 ) (72,219 )

ACCRUALS AND DEFERRED INCOME (59,697 ) (63,827 )
NET ASSETS 276,087 266,345

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Revaluation reserve 9 38,353 38,353
Retained earnings 217,734 207,992
SHAREHOLDERS' FUNDS 276,087 266,345

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

CALEDONIAN DISCOVERY LIMITED (REGISTERED NUMBER: SC157655)

BALANCE SHEET - continued
31 March 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 director and authorised for issue on 23 November 2023 and were signed by:





Martin Alan Balcombe - Director


CALEDONIAN DISCOVERY LIMITED (REGISTERED NUMBER: SC157655)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

Caledonian Discovery 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Workshop - 10% on reducing balance
Ros Crana - 4% on reducing balance
Fingal - 6.67% on reducing balance
Barge equipment - 20% on reducing balance
Outdoor equipment - 33% on reducing balance
Office equipment - 33% on reducing balance
Motor vehicles - 25% on reducing balance
Boats - 6.67% on reducing balance

The depreciation charge is calculated on a monthly basis.


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.

CALEDONIAN DISCOVERY LIMITED (REGISTERED NUMBER: SC157655)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.

Government grants
Grants received in respect of capital expenditure are credited to a deferred income account and are released to the profit and loss account over the expected useful life of the assets to which they relate. Revenue grants are credited to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Barge
Workshop Ros Crana Fingal equipment
£    £    £    £   
COST OR VALUATION
At 1 April 2022 24,733 550,000 300,000 47,586
Additions - - - 31,586
At 31 March 2023 24,733 550,000 300,000 79,172
DEPRECIATION
At 1 April 2022 15,778 40,378 40,020 46,009
Charge for year 896 20,385 17,341 6,633
At 31 March 2023 16,674 60,763 57,361 52,642
NET BOOK VALUE
At 31 March 2023 8,059 489,237 242,639 26,530
At 31 March 2022 8,955 509,622 259,980 1,577

Outdoor Office Motor
equipment equipment vehicles Boats Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2022 33,228 13,605 41,073 47,517 1,057,742
Additions 4,984 - - - 36,570
At 31 March 2023 38,212 13,605 41,073 47,517 1,094,312
DEPRECIATION
At 1 April 2022 29,666 10,708 36,524 18,362 237,445
Charge for year 2,836 956 1,137 1,935 52,119
At 31 March 2023 32,502 11,664 37,661 20,297 289,564
NET BOOK VALUE
At 31 March 2023 5,710 1,941 3,412 27,220 804,748
At 31 March 2022 3,562 2,897 4,549 29,155 820,297

CALEDONIAN DISCOVERY LIMITED (REGISTERED NUMBER: SC157655)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

Depreciation is calculated monthly.

Fingal of Caledonia was revalued on the 19th November 2019 at £300k, Ros Crana was revalued on the same day at £550k.

Cost or valuation at 31 March 2023 is represented by:

Barge
Workshop Ros Crana Fingal equipment
£    £    £    £   
Valuation in 2019 - 550,000 300,000 -
Cost 24,733 - - 79,172
24,733 550,000 300,000 79,172

Outdoor Office Motor
equipment equipment vehicles Boats Totals
£    £    £    £    £   
Valuation in 2019 - - - - 850,000
Cost 38,212 13,605 41,073 47,517 244,312
38,212 13,605 41,073 47,517 1,094,312

If the two barges had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,040,033 1,040,033
Aggregate depreciation 298,164 298,164

The barges were valued on a fair market basis on 19 November 2019 by AC Surveying .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 3,323 2,846

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 19,056 27,000
Trade creditors 69,245 46,592
Other creditors 347,115 393,950
435,416 467,542

CALEDONIAN DISCOVERY LIMITED (REGISTERED NUMBER: SC157655)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 23,405 47,871

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 42,461 74,871

The company's bankers, the Clydesdale Bank PLC hold a Bond & Floating Charge over the company's assets,

9. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 38,353