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REGISTERED NUMBER: SC235886 (Scotland)















CHARLES MACLEOD LIMITED

Financial Statements for the Year Ended 31 July 2023






CHARLES MACLEOD LIMITED (REGISTERED NUMBER: SC235886)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHARLES MACLEOD LIMITED

Company Information
for the Year Ended 31 July 2023







DIRECTORS: I A Macleod
J Macleod
C M Macleod
Ria Macdonald
S Macleod
Rona Macdonald
L Maclennan
M P Macleod





SECRETARY: I A Macleod





REGISTERED OFFICE: Ropework Park
Matheson Road
Stornoway
Isle of Lewis
Western Isles
HS1 2LB





REGISTERED NUMBER: SC235886 (Scotland)





ACCOUNTANTS: Mann Judd Gordon Ltd
Chartered Accountants
26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF

CHARLES MACLEOD LIMITED (REGISTERED NUMBER: SC235886)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,151,451 861,783
1,151,451 861,783

CURRENT ASSETS
Stocks 100,061 94,586
Debtors 6 434,346 390,242
Cash at bank and in hand 1,290,335 2,029,412
1,824,742 2,514,240
CREDITORS
Amounts falling due within one year 7 519,323 544,078
NET CURRENT ASSETS 1,305,419 1,970,162
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,456,870

2,831,945

PROVISIONS FOR LIABILITIES 179,839 85,070
NET ASSETS 2,277,031 2,746,875

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,276,931 2,746,775
SHAREHOLDERS' FUNDS 2,277,031 2,746,875

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

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

CHARLES MACLEOD LIMITED (REGISTERED NUMBER: SC235886)

Balance Sheet - continued
31 July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:




I A Macleod - Director



J Macleod - Director


CHARLES MACLEOD LIMITED (REGISTERED NUMBER: SC235886)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Charles Macleod 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.

The presentation currency of the financial statements is the Pound Sterling (£1).

The financial statements are rounded to the nearest £1.

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.

Significant judgements and estimates
The areas of the accounts where significant judgements and estimates are used is within fixed assets. Estimates are made of both the useful economic life of assets and of any residual value attached to those assets which in turn determines the depreciation rates and charges in the accounts.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold - 10% depreciation on cost
Plant and machinery - 15% depreciation on reducing balance
Fixtures and fittings - 15% depreciation on reducing balance
Motor vehicles - 25% depreciation on reducing balance

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 Profit and Loss Account, 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.


CHARLES MACLEOD LIMITED (REGISTERED NUMBER: SC235886)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 340,000
AMORTISATION
At 1 August 2022
and 31 July 2023 340,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

CHARLES MACLEOD LIMITED (REGISTERED NUMBER: SC235886)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
Leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2022 779,445 580,153 36,067 86,511 1,482,176
Additions - 4,250 287,901 54,421 346,572
Disposals - - - (32,852 ) (32,852 )
At 31 July 2023 779,445 584,403 323,968 108,080 1,795,896
DEPRECIATION
At 1 August 2022 123,099 405,222 26,408 65,664 620,393
Charge for year 14,664 26,293 1,449 8,164 50,570
Eliminated on disposal - - - (26,518 ) (26,518 )
At 31 July 2023 137,763 431,515 27,857 47,310 644,445
NET BOOK VALUE
At 31 July 2023 641,682 152,888 296,111 60,770 1,151,451
At 31 July 2022 656,346 174,931 9,659 20,847 861,783

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 363,062 304,991
Other debtors 71,284 85,251
434,346 390,242

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 236,812 257,023
Taxation and social security 245,511 275,658
Other creditors 37,000 11,397
519,323 544,078

8. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.