REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Callahan Mckeown & Co. Ltd |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
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 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Investments | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
Plant and machinery etc | - |
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 |
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 |
AMORTISATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2022 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
7. | CURRENT ASSET INVESTMENTS |
31.3.23 | 31.3.22 |
£ | £ |
Other investments |
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 |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Bank loans |