Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31true122022-09-01falseNo description of principal activity14trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC477533 2022-09-01 2023-08-31 SC477533 2021-09-01 2022-08-31 SC477533 2023-08-31 SC477533 2022-08-31 SC477533 c:CompanySecretary1 2022-09-01 2023-08-31 SC477533 c:Director1 2022-09-01 2023-08-31 SC477533 c:Director2 2022-09-01 2023-08-31 SC477533 c:Director3 2022-09-01 2023-08-31 SC477533 c:RegisteredOffice 2022-09-01 2023-08-31 SC477533 d:PlantMachinery 2022-09-01 2023-08-31 SC477533 d:PlantMachinery 2023-08-31 SC477533 d:PlantMachinery 2022-08-31 SC477533 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 SC477533 d:MotorVehicles 2022-09-01 2023-08-31 SC477533 d:MotorVehicles 2023-08-31 SC477533 d:MotorVehicles 2022-08-31 SC477533 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 SC477533 d:FurnitureFittings 2022-09-01 2023-08-31 SC477533 d:FurnitureFittings 2023-08-31 SC477533 d:FurnitureFittings 2022-08-31 SC477533 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 SC477533 d:OfficeEquipment 2022-09-01 2023-08-31 SC477533 d:OfficeEquipment 2023-08-31 SC477533 d:OfficeEquipment 2022-08-31 SC477533 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 SC477533 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 SC477533 d:CurrentFinancialInstruments 2023-08-31 SC477533 d:CurrentFinancialInstruments 2022-08-31 SC477533 d:Non-currentFinancialInstruments 2023-08-31 SC477533 d:Non-currentFinancialInstruments 2022-08-31 SC477533 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 SC477533 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 SC477533 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 SC477533 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 SC477533 d:ShareCapital 2023-08-31 SC477533 d:ShareCapital 2022-08-31 SC477533 d:RetainedEarningsAccumulatedLosses 2023-08-31 SC477533 d:RetainedEarningsAccumulatedLosses 2022-08-31 SC477533 c:OrdinaryShareClass1 2022-09-01 2023-08-31 SC477533 c:OrdinaryShareClass1 2023-08-31 SC477533 c:OrdinaryShareClass1 2022-08-31 SC477533 c:OrdinaryShareClass2 2022-09-01 2023-08-31 SC477533 c:OrdinaryShareClass2 2023-08-31 SC477533 c:OrdinaryShareClass2 2022-08-31 SC477533 c:OrdinaryShareClass3 2022-09-01 2023-08-31 SC477533 c:OrdinaryShareClass3 2023-08-31 SC477533 c:OrdinaryShareClass3 2022-08-31 SC477533 c:FRS102 2022-09-01 2023-08-31 SC477533 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 SC477533 c:FullAccounts 2022-09-01 2023-08-31 SC477533 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 SC477533 e:PoundSterling 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC477533










CARMICHAEL AND BAXTER INDUSTRIAL SERVICES LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

 
CARMICHAEL AND BAXTER INDUSTRIAL SERVICES LTD
 

COMPANY INFORMATION


Directors
Mr A Baxter 
Mr P Carmichael 
Mr N Cameron 




Company secretary
Mr P Carmichael



Registered number
SC477533



Registered office
6 Eden Valley Business Park

Cupar

Fife

KY15 4RB




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
CARMICHAEL AND BAXTER INDUSTRIAL SERVICES LTD
REGISTERED NUMBER: SC477533

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
£
£

Fixed assets
  

Tangible fixed assets
  
258,255
203,337

  
258,255
203,337

Current assets
  

Stocks
  
244,944
290,739

Debtors: amounts falling due within one year
 5 
773,717
868,327

Cash at bank and in hand
  
19,860
251,693

  
1,038,521
1,410,759

Creditors: amounts falling due within one year
 6 
(796,971)
(1,248,418)

Net current assets
  
 
 
241,550
 
 
162,341

Total assets less current liabilities
  
499,805
365,678

Creditors: amounts falling due after more than one year
 7 
(94,479)
(71,787)

Provisions for liabilities
  

Deferred tax
  
(64,564)
(38,634)

  
 
 
(64,564)
 
 
(38,634)

Net assets
  
340,762
255,257


Capital and reserves
  

Called up share capital 
 8 
12
12

Profit and loss account
  
340,750
255,245

  
340,762
255,257


Page 1

 
CARMICHAEL AND BAXTER INDUSTRIAL SERVICES LTD
REGISTERED NUMBER: SC477533

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 April 2024.




Mr P Carmichael
Mr N Cameron
Director
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CARMICHAEL AND BAXTER INDUSTRIAL SERVICES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Carmichael & Baxter Industrial Services Limited is a private company, limited by shares, incorporated in Scotland. The company number is SC477533 and the registered office is 6 Eden Valley Business Park, Cupar, Fife, Scotland, KY15 4RB.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
CARMICHAEL AND BAXTER INDUSTRIAL SERVICES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
CARMICHAEL AND BAXTER INDUSTRIAL SERVICES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Motor vehicles
-
25%
Fixtures and fittings
-
20%
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2022 - 12).

Page 5

 
CARMICHAEL AND BAXTER INDUSTRIAL SERVICES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 September 2022
103,909
207,718
6,340
4,549
322,516


Additions
6,819
102,223
-
6,568
115,610


Disposals
-
(21,340)
-
-
(21,340)



At 31 August 2023

110,728
288,601
6,340
11,117
416,786



Depreciation


At 1 September 2022
51,223
61,449
3,864
2,643
119,179


Charge for the year on owned assets
11,399
41,084
495
1,034
54,012


Disposals
-
(14,660)
-
-
(14,660)



At 31 August 2023

62,622
87,873
4,359
3,677
158,531



Net book value



At 31 August 2023
48,106
200,728
1,981
7,440
258,255



At 31 August 2022
52,686
146,269
2,476
1,906
203,337


5.


Debtors

2023
2022
£
£


Trade debtors
731,222
777,087

Other debtors
13,712
34,547

Prepayments and accrued income
28,783
56,693

773,717
868,327


Page 6

 
CARMICHAEL AND BAXTER INDUSTRIAL SERVICES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
822
4,468

Trade creditors
474,352
569,415

Accruals and deferred income
25,874
33,255

Other taxation and social security
191,270
585,740

Other creditors
30,844
5,532

Obligations under finance lease and hire purchase contracts
63,809
40,008

Bank loans
10,000
10,000

796,971
1,248,418


The following liabilities were secured:




Details of security provided:

The company granted a floating charge in favour of Santander UK PLC over all the property and undertakings now and in the future.


7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
76,979
44,287

Bank loans
17,500
27,500

94,479
71,787



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



4 (2022 - 4) A Ordinary shares of £1.00 each
4
4
4 (2022 - 4) B Ordinary shares of £1.00 each
4
4
4 (2022 - 4) C Ordinary shares of £1.00 each
4
4

12

12



Page 7