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REGISTERED NUMBER: SC166498 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Callanish Land Limited

Callanish Land Limited (Registered number: SC166498)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Callanish Land Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: M L Ismail
M Riddell
A Polding
C Anderson





SECRETARY: M Riddell





REGISTERED OFFICE: 17 Barons Hill Avenue
Linlithgow
West Lothian
EH49 7JU





REGISTERED NUMBER: SC166498 (Scotland)





ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG

Callanish Land Limited (Registered number: SC166498)

Balance Sheet
30 June 2023

30.6.23 30.6.22
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 400 600

CURRENT ASSETS
Stocks 79,487 79,487
Debtors 5 2,186,446 2,242,172
Cash at bank 193,775 776,928
2,459,708 3,098,587
CREDITORS
Amounts falling due within one year 6 475,949 1,091,558
NET CURRENT ASSETS 1,983,759 2,007,029
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,984,159

2,007,629

PROVISIONS FOR LIABILITIES 7 100 114
NET ASSETS 1,984,059 2,007,515

CAPITAL AND RESERVES
Called up share capital 8 4 4
Retained earnings 1,984,055 2,007,511
SHAREHOLDERS' FUNDS 1,984,059 2,007,515

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2024 and were signed on its behalf by:





C Anderson - Director


Callanish Land Limited (Registered number: SC166498)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Callanish Land 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 the provisions of section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors within one year.

Tangible fixed assets
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, [other than investment properties and freehold land], at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings - 20% per annum
Motor vehicles - 25% per annum

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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 Statement of Income and Retained Earnings, 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.

Callanish Land Limited (Registered number: SC166498)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

Basic financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 July 2022
and 30 June 2023 1,000
DEPRECIATION
At 1 July 2022 400
Charge for year 200
At 30 June 2023 600
NET BOOK VALUE
At 30 June 2023 400
At 30 June 2022 600

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
as restated
£ £
Trade debtors 1,888 1,888
Other debtors 2,184,558 2,240,284
2,186,446 2,242,172

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
as restated
£ £
Trade creditors 361 23,940
Taxation and social security 22,186 547,301
Other creditors 453,402 520,317
475,949 1,091,558

Callanish Land Limited (Registered number: SC166498)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
as restated
£ £
Deferred tax 100 114

Deferred tax
£
Balance at 1 July 2022 114
Provided during year (14 )
Balance at 30 June 2023 100

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: as restated
£ £
4 Ordinary £1 4 4

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 30 June 2023 the company owed the director £28,410 (2022: £26,194).

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £100,000 (2022 - £23,053) were paid to the directors .

Transactions with related parties during the year and balances outstanding at the year end were as follows:




Type of
transaction

Amount
2023

Amount
2022
Balance receivable or
(payable) by related
party as at 30.6.23
Balance receivable or
(payable) by related
party as at 30.6.22
£ £ £ £

Callanish Homes
(Glenboig) Limited

Loan

210,000

40,000

518,000

308,000

Callanish Developments
Limited

Loan

(56,561)

(41,561)

-

(56,561)

Strathspey Property
Limited

Loan

660,000

-

660,000

-
Interest 22,874 - - -

Callanish Homes
(Bridgend) LLP

Current account

32,971

14,890

47,861

14,890

Share of
profit/(loss)

(2,356)

-

-

-

Two directors of Callanish Land Limited are also directors of Callanish Developments Limited, Callanish Homes (Glenboig) Limited and Strathspey Property Limited.

Callanish Homes Limited is a designated member of Callanish Homes (Bridgend) LLP.

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.