Company registration number SC329610 (Scotland)
CALEDONIA SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
CALEDONIA SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
CALEDONIA SERVICES LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
260,628
237,766
Current assets
Stocks
4
175,809
242,944
Debtors
5
405,613
303,099
Cash at bank and in hand
24
4,385
581,446
550,428
Creditors: amounts falling due within one year
6
(745,946)
(524,790)
Net current (liabilities)/assets
(164,500)
25,638
Total assets less current liabilities
96,128
263,404
Creditors: amounts falling due after more than one year
7
(89,197)
(156,705)
Provisions for liabilities
(53,402)
(6,725)
Net (liabilities)/assets
(46,471)
99,974
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(46,571)
99,874
Total equity
(46,471)
99,974

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

CALEDONIA SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 5 August 2024
C STEWART
Mr C Stewart
Director
Company Registration No. SC329610
CALEDONIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

Caledonia Services Limited is a private company limited by shares incorporated in Scotland. The registered office is 2 Marischal Square, Broad Street, Aberdeen, AB10 1DQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Going concern

These financial statements are prepared on the going concern basis. At the balance sheet date, the company had net current liabilities of £164,500 and net liabilities of £46,471. Included within these liabilities are amounts due by the directors and related undertakings of £12,640. The financial statements are prepared on a going concern basis which assumes that the company will continue to meet its liabilities as they fall due. Furthermore, the directors have confirmed they shall continue to support the company to facilitate its ability to continue trading as a going concern for the foreseeable future. As a result, the director has a reasonable expectation that the company will continue in operational existence for the foreseeable future.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, on a reducing balance basis.

 

Depreciation is provided on the following basis:

Property improvements
- 25% on straight line
Plant and machinery
- 10% to 25% on reducing balance
Fixtures and fittings
- 25% on reducing balance
Office equipment
- 33% on straight line
Motor vehicles
- 25% on straight line
Assets under construction
- Not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

CALEDONIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from group companies. These are measured at amortised cost and 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 Statement of comprehensive income.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

CALEDONIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including director) employed by the company during the year was:

2024
2023
Number
Number
Total
13
13
CALEDONIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
3
Tangible fixed assets
Property improvements
Assets under construction
Plant and machinery
Fixtures and fittings
Office equipment
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 February 2023
123,988
-
0
880,662
20,771
44,329
22,945
1,092,695
Additions
-
0
46,835
24,904
-
0
1,398
-
0
73,137
At 31 January 2024
123,988
46,835
905,566
20,771
45,727
22,945
1,165,832
Depreciation and impairment
At 1 February 2023
107,251
-
0
666,810
18,169
39,754
22,945
854,929
Depreciation charged in the year
8,235
-
0
38,526
894
2,620
-
0
50,275
At 31 January 2024
115,486
-
0
705,336
19,063
42,374
22,945
905,204
Carrying amount
At 31 January 2024
8,502
46,835
200,230
1,708
3,353
-
0
260,628
At 31 January 2023
16,737
-
0
213,852
2,602
4,575
-
0
237,766
CALEDONIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
4
Stocks
2024
2023
£
£
Stocks
175,809
242,944
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
380,172
289,954
Other debtors
25,441
13,145
405,613
303,099
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
36,211
35,000
Trade creditors
346,610
197,682
Corporation tax
491
-
0
Other taxation and social security
48,906
74,661
Other creditors
313,728
217,447
745,946
524,790
Included in Other creditors is borrowing from Lloyds Bank Commercial Finance Ltd of £273,339  for which the bank hold security over certain trade debtors of the company.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
52,500
87,500
Other creditors
36,697
69,205
89,197
156,705
Included in other creditors is amounts due under hire purchase commitments. These obligations are secured over the assets that they relate.
CALEDONIA SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 8 -
8
Related party transactions

During the year, advances of £5,400 were made to the director with interest of £160 being charged on the loan, this resulted in amounts due to the company at the year end of £12,640 (2023 - £7,080).

 

There are no set repayment terms on the loan, interest is charged at a commercial rate.

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