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REGISTERED NUMBER: SC392816 (Scotland)















Abridged Unaudited Financial Statements for the Year Ended 31 May 2024

for

Caleylock Edinburgh Limited

Caleylock Edinburgh Limited (Registered number: SC392816)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


Caleylock Edinburgh Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: R Mckay
M Dickson
S Barlas



REGISTERED OFFICE: 14 Rutland Square
Edinburgh
Midlothian
EH1 2BD



REGISTERED NUMBER: SC392816 (Scotland)



ACCOUNTANT: Gibson McKerrell Burrows Limited
28 Rutland Square
Edinburgh
EH1 2BW



BANKERS: Royal Bank of Scotland
2 Bernard Street
Leith
Edinburgh
EH6 6PU

Caleylock Edinburgh Limited (Registered number: SC392816)

Abridged Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,842 22,445

CURRENT ASSETS
Stocks 124,580 121,295
Debtors 169,062 64,989
Cash at bank and in hand 276,499 341,210
570,141 527,494
CREDITORS
Amounts falling due within one year 479,932 461,394
NET CURRENT ASSETS 90,209 66,100
TOTAL ASSETS LESS CURRENT
LIABILITIES

107,051

88,545

CREDITORS
Amounts falling due after more than one
year

(14,353

)

(28,260

)

PROVISIONS FOR LIABILITIES 6 (3,295 ) (4,264 )
NET ASSETS 89,403 56,021

CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings 89,373 55,991
SHAREHOLDERS' FUNDS 89,403 56,021

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 5 August 2024 and were signed on its behalf by:



M Dickson - Director


Caleylock Edinburgh Limited (Registered number: SC392816)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Caleylock Edinburgh 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is attributable to the company's principal activity of supplying and fitting locks.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. Cost includes the original purchase price and costs directly attributable to bringing the asset to its present location and into its present condition. After initial recognition, the assets are measured at cost less any accumulated depreciation and any accumulated impairment losses. Freehold properties are subsequently measured at their revalued amount, being the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is provided by equal instalments at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles - 20% reducing balance
Plant and machinery - 25% reducing balance
Computer equipment - over 5 years

Depreciation and impairment losses are charged to the Income Statement within administrative expenses.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The loss is recognised immediately in the Income Statement

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 payables, loans from banks and other third parties.

At the end of each reporting period, financial assets that are measured at cost are assessed for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows arising from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party.

Financial liabilities are measured at amortised cost less any accumulated impairment losses. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires


Caleylock Edinburgh Limited (Registered number: SC392816)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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 Statement of Financial Position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial Position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the Statement of Financial Position as substantially all of the risks and rewards incidental to ownership have been transferred from the leasing company.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the Income Statement over the relevant period. The capital element of the future payments is treated as a liability.

Rentals under operating leases are charged to the Income Statement 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 the Income Statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023
and 31 May 2024 98,308
DEPRECIATION
At 1 June 2023 75,863
Charge for year 5,603
At 31 May 2024 81,466
NET BOOK VALUE
At 31 May 2024 16,842
At 31 May 2023 22,445

Caleylock Edinburgh Limited (Registered number: SC392816)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 June 2023
and 31 May 2024 44,227
DEPRECIATION
At 1 June 2023 23,474
Charge for year 5,183
At 31 May 2024 28,657
NET BOOK VALUE
At 31 May 2024 15,570
At 31 May 2023 20,753

5. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 21,471 -
Hire purchase contracts 6,558 12,663
28,029 12,663

The bank holds a floating charge over all the property and undertakings of the company. The assets under hire purchase contracts are secured.

6. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 3,295 4,264

Deferred
tax
£   
Balance at 1 June 2023 4,264
Provided during year (969 )
Balance at 31 May 2024 3,295

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
R Mckay
Balance outstanding at start of year (27,293 ) (8,454 )
Amounts advanced 32,176 18,661
Amounts repaid (28,000 ) (37,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (23,117 ) (27,293 )

Caleylock Edinburgh Limited (Registered number: SC392816)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

M Dickson
Balance outstanding at start of year (26,562 ) (8,232 )
Amounts advanced 31,656 19,170
Amounts repaid (28,000 ) (37,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (22,906 ) (26,562 )

S Barlas
Balance outstanding at start of year (26,986 ) (8,506 )
Amounts advanced 31,650 19,020
Amounts repaid (28,000 ) (37,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (23,336 ) (26,986 )

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £108,000 (2023 - £175,500) were paid to the directors .

As at 31st May 2024, The Three Wise Monkeys Property Investments Company Limited owed £27,400 to Caleylock Edinburgh Limited. The company paid rent of £15,000 to the Three Wise Monkeys Property Investments Company Limited. The directors of the company are also directors of The Three Wise Monkeys Property Investments Company Limited.