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REGISTERED NUMBER: SC412523 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Callahan Mckeown & Co. Ltd

Callahan Mckeown & Co. Ltd (Registered number: SC412523)






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


Callahan Mckeown & Co. Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: E A Callahan
M McKeown





REGISTERED OFFICE: Limetree Garage
Glasgow Road
Hamilton
ML3 0RA





REGISTERED NUMBER: SC412523 (Scotland)





ACCOUNTANTS: CMA, Chartered Accountants
Limetree Garage
Glasgow Road
Hamilton
ML3 0RA

Callahan Mckeown & Co. Ltd (Registered number: SC412523)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,375 13,750
Tangible assets 5 13,107 15,658
25,482 29,408

CURRENT ASSETS
Debtors 6 69,017 56,399
Investments 7 20,393 30,629
Cash at bank and in hand 102,133 42,388
191,543 129,416
CREDITORS
Amounts falling due within one year 8 86,788 60,077
NET CURRENT ASSETS 104,755 69,339
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,237

98,747

CREDITORS
Amounts falling due after more than one
year

9

(16,667

)

(36,667

)

PROVISIONS FOR LIABILITIES (2,963 ) (2,963 )
NET ASSETS 110,607 59,117

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 110,507 59,017
110,607 59,117

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 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.

Callahan Mckeown & Co. Ltd (Registered number: SC412523)

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 Board of Directors and authorised for issue on 20 December 2023 and were signed on its behalf by:





M McKeown - Director


Callahan Mckeown & Co. Ltd (Registered number: SC412523)

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

1. STATUTORY INFORMATION

Callahan Mckeown & Co. Ltd 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.

Revenue recognition
Turnover is measured at the fair value of the consideration received or rendered.

Turnover is recognised from the company's principal activity being that of solicitors and notaries.

Unpaid SLAB accounts submitted prior to the year end are recognised as turnover in accordance with FRS 102 and are included within debtors as amounts recoverable on contracts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty 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.
Plant and machinery etc - 33% on cost, 20% on reducing balance and 10% on cost

Financial instruments

Debtors
Trade debtors and amounts recoverable on contracts are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a
short term maturity, being twelve months or less, from the opening of the deposit or similar account.

Creditors
Trade and other creditors are recognised where a company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

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.


Callahan Mckeown & Co. Ltd (Registered number: SC412523)

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

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

In their assessment of going concern the directors have considered the current and developing impact on the business as a result of the COVID-19 virus. The COVID-19 pandemic has had a significant, immediate impact on the company's operations. In response to these unprecedented circumstances, the directors had accessed the government's coronavirus job retention scheme for the company's staff however all staff have now returned to work. The directors also obtained additional financing facilities.

Having considered available working capital to include considerations for COVID-19, the directors are unaware of any events, conditions, or related business risks beyond the period of assessment that may cast significant doubt on the company's ability to continue as a going concern.

Other investments
Other investments represent investments in crypto currencies. These investments are included at cost on initial recognition and subsequently revalued each year at the Balance Sheet date in accordance with the provisions of IFRS 13 "Fair Value Measurement". The directors consider this approach appropriate as the assets are Bitcoin and the directors consider that there is an active market in which they are traded.

3. EMPLOYEES AND DIRECTORS

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

Callahan Mckeown & Co. Ltd (Registered number: SC412523)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 27,500
AMORTISATION
At 1 April 2022 13,750
Charge for year 1,375
At 31 March 2023 15,125
NET BOOK VALUE
At 31 March 2023 12,375
At 31 March 2022 13,750

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 35,569
Additions 1,207
At 31 March 2023 36,776
DEPRECIATION
At 1 April 2022 19,911
Charge for year 3,758
At 31 March 2023 23,669
NET BOOK VALUE
At 31 March 2023 13,107
At 31 March 2022 15,658

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 31,865 10,830
Amounts recoverable on contract 27,039 37,160
Other debtors 10,113 8,409
69,017 56,399

7. CURRENT ASSET INVESTMENTS
31.3.23 31.3.22
£    £   
Other investments 20,393 30,629

Callahan Mckeown & Co. Ltd (Registered number: SC412523)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 2,915 3,368
Taxation and social security 70,213 43,988
Other creditors 3,660 2,721
86,788 60,077

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 16,667 36,667