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REGISTERED NUMBER: SC639487 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

CLACHTOLL LIMITED

CLACHTOLL LIMITED (REGISTERED NUMBER: SC639487)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLACHTOLL LIMITED

COMPANY INFORMATION
for the year ended 31 August 2023







DIRECTORS: L R Morgan
G J Morgan





REGISTERED OFFICE: 3 Quality Street
Edinburgh
Midlothian
EH4 5BP





REGISTERED NUMBER: SC639487 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

CLACHTOLL LIMITED (REGISTERED NUMBER: SC639487)

BALANCE SHEET
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,207 1,439
Investment property 5 320,000 320,000
323,207 321,439

CURRENT ASSETS
Debtors 6 22 21
Cash at bank and in hand 61,504 46,274
61,526 46,295
CREDITORS
Amounts falling due within one year 7 321,809 315,529
NET CURRENT LIABILITIES (260,283 ) (269,234 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

62,924

52,205

PROVISIONS FOR LIABILITIES 8 3,196 2,860
NET ASSETS 59,728 49,345

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 11,029 11,029
Retained earnings 48,599 38,216
SHAREHOLDERS' FUNDS 59,728 49,345

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

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

CLACHTOLL LIMITED (REGISTERED NUMBER: SC639487)

BALANCE SHEET - continued
31 August 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 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 22 March 2024 and were signed on its behalf by:





G J Morgan - Director


CLACHTOLL LIMITED (REGISTERED NUMBER: SC639487)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 August 2023

1. STATUTORY INFORMATION

Clachtoll 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 (£).


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.

At 31 August 2023, the company had net current liabilities of £260,283 (2022 - £269,234 ). The company relies on the continued support of the directors to finance its short term working capital requirements. The directors consider it appropriate to prepare the statements on a going concern basis as they expects that this support will continue for the foreseeable future.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable in relation to rental income.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% per annum reducing balance

The carrying values of tangible fixed assets are reviewed for impairment on an annual basis.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and
loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

CLACHTOLL LIMITED (REGISTERED NUMBER: SC639487)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 September 2022 2,596
Additions 2,377
At 31 August 2023 4,973
DEPRECIATION
At 1 September 2022 1,157
Charge for year 609
At 31 August 2023 1,766
NET BOOK VALUE
At 31 August 2023 3,207
At 31 August 2022 1,439

CLACHTOLL LIMITED (REGISTERED NUMBER: SC639487)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 320,000
NET BOOK VALUE
At 31 August 2023 320,000
At 31 August 2022 320,000

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2021 13,616
Cost 306,384
320,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 306,384 306,384

Investment property was valued on an open market basis on 31 August 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 22 21

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 2,100 2,544
Other creditors 319,709 312,985
321,809 315,529

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 609 273
Revalued assets 2,587 2,587
3,196 2,860

CLACHTOLL LIMITED (REGISTERED NUMBER: SC639487)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2022 2,860
Provided during year 336
Balance at 31 August 2023 3,196

9. RELATED PARTY DISCLOSURES

Included in "Other creditors" is an amount of £317,836 (2022 - £311,124) due to the directors from the company. The loan is interest free and repayable on demand.