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Company registration number: SC253446
Colonsay Trading Company Limited
Trading as Colonsay Trading Company Limited
Unaudited filleted financial statements
31 March 2023
Colonsay Trading Company Limited
Contents
Directors and other information
Accountants report
Statement of financial position and notes to the financial statements
Colonsay Trading Company Limited
Directors and other information
Directors Ms Sarah Hobhouse
Mr Andrew Abraham
Mr William Joll
Mr Liam McNeill
Mrs Susan Dance
Mr Callum Hay
Ms Helen Mann
Mr Dannie Onn
Company number SC253446
Registered office Scalasaig
Isle of Colonsay
Argyll & Bute
PA61 7YW
Business address Colonsay Village Hall
Scalasaig
Isle of Colonsay
Argyll
PA61 7YW
Accountants David Cadwallader & Co Limited
Unit 3 Bignell Park Barns
Chesterton
By Bicester
Oxfordshire
OX26 1TD
Colonsay Trading Company Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Colonsay Trading Company 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 Colonsay Trading Company Limited for the year ended 31 March 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Colonsay Trading Company Limited, as a body, in accordance with the terms of our engagement letter dated 1 February 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Colonsay Trading Company Limited and state those matters that we have agreed to state to the board of directors of Colonsay Trading Company Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Colonsay Trading Company Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Colonsay Trading Company 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 Colonsay Trading Company Limited. You consider that Colonsay Trading Company 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 Colonsay Trading Company 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.
David Cadwallader & Co Limited
Chartered Accountants and Registered Auditors
Unit 3 Bignell Park Barns
Chesterton
By Bicester
Oxfordshire
OX26 1TD
23 September 2023
Colonsay Trading Company Limited
Statement of financial position
31 March 2023
2023 2022
£ £
Fixed assets 175 218
_______ _______
Current assets 47,425 42,826
Creditors: amounts falling due within one year ( 22,184) ( 19,576)
_______ _______
Net current assets 25,241 23,250
_______ _______
Total assets less current liabilities 25,416 23,468
Accruals and deferred income ( 3,537) ( 1,678)
_______ _______
Net assets 21,879 21,790
_______ _______
Capital and reserves 21,879 21,790
_______ _______
Notes to the financial statements
Colonsay Trading Company Limited
Year ended 31 March 2023
1. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
The companies business is managed by individuals thus the number of employees in the year was nil (2020 - nil)
2. Impact of Covid 19
The company was adversely affected by Covid through the loss of sales to visitors to the island. But as the companies costs are minimal, the impact was minor. As such the directors consider that the impact can be viewed as a non adjusting event and the preparation of the accounts under the going concern concept remains appropriate
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 responsiblities:
- The members have not required the company to obtain an audit of its accounts 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 accounts.
The financial statements have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the board of directors and authorised for issue on 23 September 2023 , and are signed on behalf of the board by:
Mr Dannie Onn Mr Callum Hay
Director Director
Company registration number: SC253446
The company is a private company limited by shares, registered in Scotland.