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REGISTERED NUMBER: SC187615 (Scotland)













Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2023

for

A. Caulder & Co. Limited

A. Caulder & Co. Limited (Registered number: SC187615)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 8

Income Statement 12

Other Comprehensive Income 13

Balance Sheet 14

Statement of Changes in Equity 15

Cash Flow Statement 16

Notes to the Cash Flow Statement 17

Notes to the Financial Statements 19


A. Caulder & Co. Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C Barrie
Mrs A Barrie
Ms L MacDonald
E Moody
B Farquhar
C Stark
T Hughes


SECRETARY: C Barrie


REGISTERED OFFICE: Banton Mill
Mill Road
Banton
G65 0QG


REGISTERED NUMBER: SC187615 (Scotland)


AUDITORS: Gerber Landa & Gee
Statutory Auditor
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU


SOLICITORS: Friels Solicitors & Notaries
5 Bank Street
Coatbridge
ML5 1AN

A. Caulder & Co. Limited (Registered number: SC187615)

Strategic Report
for the Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
The company's results for the year and financial position are as shown in the annexed financial statements.

The turnover for the year was £19.85M, an increase of 9.3%. The company's profit before taxation was £1.65M (2022: £1.61M). During the year, the company has continued to invest substantially in its Centres.

The company continues to perform strongly in difficult trading circumstances in the year under review and the Directors are grateful to our staff for their hard work and to our customers for their continued loyalty.

Trading figures following the year end have been strong and the Directors believe that the outlook is very positive for the remainder of 2024 as the wider economic climate continues to stabilise.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainties affecting the business, together with the company's approach to these risks are summarised below:-

Weather

The seasonal nature of garden centres means that inclement weather during the spring and summer seasons can reduce demand and footfall. Caulders continues to invest in our individual centres to improve the customer experience in poorer weather, as well as offering a diverse product range and increasing the capacity of our restaurants to meet customer demand.

Market Conditions

We operate in a competitive market place where DIY stores, supermarkets and discount retailers continue to increase their product offering. Wider economic conditions mean that there is a continued squeeze on the income of our customers and we appreciate their continued loyalty in difficult times. We continue to strive to provide excellent quality and value in everything that we do. At Caulders we pride ourselves on the Garden Centre experience we offer, focussed on high quality products and food and outstanding customer service. This approach continues to prove popular, and the loyalty of our customers continues to be a source of immense pride for us.

Supply Chain Issues

Acquiring sufficient stock continues to be a challenge in the current retail environment, with less availability and increased lead times for many products. We have excellent relationships with our suppliers and our team continue to work hard to source the high quality products our customers expect at the best possible price. This, in addition to our new distribution site in central Scotland means we are well placed to mitigate this risk.


IT Risk

Our continued expansion means we are increasingly reliant on our IT systems, and as such there are risks associated with both cyber security and data protection. The company continues to assess the security of our systems constantly under the supervision of our IT Director.


A. Caulder & Co. Limited (Registered number: SC187615)

Strategic Report
for the Year Ended 31 December 2023

SECTION 172(1) STATEMENT
The directors acknowledge and understand their duties and responsibilities, including that of section 172, of the Companies Act 2006. A director of a company must act in a way he or she considers, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole. he We assess the impact of any decisions on our key stakeholders, our staff, our customers, our suppliers and our local communities. The Directors are conscious of balancing the interests of all stakeholders when making any key business decisions, and the short and long term impacts on the business and our stakeholders. In fulfilling our duties, we have (amongst other matters) considered the following:

The interests of the Company's employees

The company values all stakeholders and understands the importance of investing in people to ensure the highest quality is delivered to customers. We are a committed equal opportunities employer and all employment decisions are based on merit alone. We believe that our staff are crucial in promoting a positive environment for our customers and are constantly assessing how we can help our staff grow. Our Directors are all closely involved in the business on a daily basis and are all in daily contact with our staff members to support them in any way we can. We pride ourselves on looking after every member of the Caulders family and believe this has been a pivotal aspect of the Company's success.

The need to foster the Company's business relationships with suppliers, customers and others

Our relationship with our customers and suppliers is crucial to the success of our business, and we strive to create an environment in which our customers feel welcome, we pride ourselves on our friendly and approachable nature in our Centres. We have longstanding relationships with our key suppliers who have continued to support us as we grow as a business and whom we always strive to maintain excellent relationships with.



The impact of the Company's operations on the community and the environment

The Company and the directors have a focus on how projects and the Company impact both communities and the environment. The company is looking at ways we can reduce our carbon footprint.

The desirability of the company maintaining a reputation for high standards of business conduct

The company promotes a customer focus and aims for continuous improvement to deliver a high-quality service which is continually monitored. Our reputation is central to everything we do and we are proud that our customers and staff place their trust in us.

The need to act fairly as between members of the Company

The directors carefully consider all decisions to ensure that they achieve a fair balance between the Company and its members.


A. Caulder & Co. Limited (Registered number: SC187615)

Strategic Report
for the Year Ended 31 December 2023

KEY PERFORMANCE INDICATORS
We monitor a number of indicators of performance across our Garden Centres and restaurants, including turnover, gross profit and net profit.

We have a high degree of focus on staff job satisfaction as we believe that the happiness and wellbeing of our staff is crucial to everything we do.

ON BEHALF OF THE BOARD:





C Barrie - Director


26 March 2024

A. Caulder & Co. Limited (Registered number: SC187615)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the operation of Garden Centres and Restaurants.

DIVIDENDS
The total distribution of dividends for the year ended 31 December 2023 will be £ 60,000 .

The Directors recommend that no final dividend be paid.

FUTURE DEVELOPMENTS
The Company continues to focus on improving the customer experience at all our Centres as well as identifying possible areas for growth.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

C Barrie
Mrs A Barrie
Ms L MacDonald
E Moody
B Farquhar
C Stark

Other changes in directors holding office are as follows:

T Hughes - appointed 14 December 2023

EMPLOYEES
The company ensures that employees are informed about the business and encourages employees suggestions and views where possible in matters that are likely to affect their interests.

We are an equal opportunities employer and all recruitment decisions are based on merit, with all candidates being considered whose skillset is consistent with the requirements of the job.
Opportunities for training, career development and promotion are available to all employees.

STREAMLINED ENERGY AND CARBON REPORTING
This report was prepared in accordance with the Streamlined Energy and Carbon Reporting (SECR) requirements of The Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018.

Calculation Methodology

We have collated data regarding the energy use of our Centres, Head Office and vehicles, including electricity, natural gas, propane, Kerosene Burning oil, LPG and diesel and unleaded fuel. All emissions are reported in tonnes of CO2e based on UK Government GHG Conversion Factors for Company Reporting for 2023 as published by the Department for Business, Energy & Industrial Strategy.












A. Caulder & Co. Limited (Registered number: SC187615)

Report of the Directors
for the Year Ended 31 December 2023






Energy Consumption used to calculate emissions (kWh)

UK and Offshore
2023 2022

Electricity (Scope 2) 1,248,784 1,104,855
Natural Gas (Scope 1) 419,584 563,125
LPG (Scope 1) 736,551 630,410
Propane (Scope 1) 18,504 19,953
Kerosene (Scope 1) 378,812 267,198
Diesel Fuel (Scope 1) 476,684 369,851
Unleaded Fuel (Scope 1) - 58,207
Biomass Wood Pellets (Scope 1) 300,279 346,439
3,579,198 3,360,038




Gross emissions in metric tonnes CO2e

UK and Offshore
2023 2022

Emissions from activities for which the company
own or control including combustion of fuel &
operation of facilities (Scope 1)


478.47


398.83

Emissions from purchase of electricity, heat,
steam and cooling purchased for own use (Scope
2)


49.00


227.55

Total Gross Scope 1 & Scope 2 Emissions 527.47 626.38


Intensity Ratio


2023 2022

Total Retail Space (m2) 43,255 43,255

Total Scope 1 and 2 emissions (tonnes CO2e) 527 629.19
Emissions per m2 (kg CO2e) 12.19 14.5


A. Caulder & Co. Limited (Registered number: SC187615)

Report of the Directors
for the Year Ended 31 December 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Gerber Landa & Gee, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C Barrie - Director


26 March 2024

Report of the Independent Auditors to the Members of
A. Caulder & Co. Limited

Opinion
We have audited the financial statements of A. Caulder & Co. Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
A. Caulder & Co. Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page seven, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
A. Caulder & Co. Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;
We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation];
We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships;
- Tested journal entries to identify unusual transactions;
- Investigated the rationale behind significant or unusual transactions; and

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
A. Caulder & Co. Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Ian McGougan (Senior Statutory Auditor)
for and on behalf of Gerber Landa & Gee
Statutory Auditor
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

26 March 2024

A. Caulder & Co. Limited (Registered number: SC187615)

Income Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 3 19,855,220 18,158,621

Cost of sales 8,279,575 7,752,411
GROSS PROFIT 11,575,645 10,406,210

Administrative expenses 9,901,874 8,791,319
1,673,771 1,614,891

Other operating income 361,332 277,351
OPERATING PROFIT 5 2,035,103 1,892,242

Interest receivable and similar income 24,304 8,022
2,059,407 1,900,264

Interest payable and similar expenses 6 412,585 291,983
PROFIT BEFORE TAXATION 1,646,822 1,608,281

Tax on profit 7 322,006 364,449
PROFIT FOR THE FINANCIAL YEAR 1,324,816 1,243,832

A. Caulder & Co. Limited (Registered number: SC187615)

Other Comprehensive Income
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

PROFIT FOR THE YEAR 1,324,816 1,243,832


OTHER COMPREHENSIVE INCOME
Property Revaluations
Deferred Tax Movement on Revaluations
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

-

-
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,324,816

1,243,832

A. Caulder & Co. Limited (Registered number: SC187615)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 17,700,704 16,986,994

CURRENT ASSETS
Stocks 10 2,561,748 2,397,295
Debtors 11 384,510 367,849
Cash at bank and in hand 3,149,166 3,957,521
6,095,424 6,722,665
CREDITORS
Amounts falling due within one year 12 5,191,537 3,354,998
NET CURRENT ASSETS 903,887 3,367,667
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,604,591

20,354,661

CREDITORS
Amounts falling due after more than one
year

13

(2,761,160

)

(5,654,620

)

PROVISIONS FOR LIABILITIES 17 (1,986,189 ) (2,107,615 )
NET ASSETS 13,857,242 12,592,426

CAPITAL AND RESERVES
Called up share capital 18 15,000 15,000
Share premium 19 142,958 142,958
Revaluation reserve 19 6,010,099 6,089,798
Retained earnings 19 7,689,185 6,344,670
SHAREHOLDERS' FUNDS 13,857,242 12,592,426

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2024 and were signed on its behalf by:





C Barrie - Director


A. Caulder & Co. Limited (Registered number: SC187615)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Share Revaluation Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 January 2022 15,000 5,052,294 142,958 6,198,342 11,408,594

Changes in equity
Dividends - (60,000 ) - - (60,000 )
Total comprehensive income - 1,352,376 - (108,544 ) 1,243,832
Balance at 31 December 2022 15,000 6,344,670 142,958 6,089,798 12,592,426

Changes in equity
Dividends - (60,000 ) - - (60,000 )
Total comprehensive income - 1,404,515 - (79,699 ) 1,324,816
Balance at 31 December 2023 15,000 7,689,185 142,958 6,010,099 13,857,242

A. Caulder & Co. Limited (Registered number: SC187615)

Cash Flow Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,303,873 1,314,045
Interest paid (406,808 ) (286,423 )
Interest element of hire purchase payments
paid

(5,777

)

(5,560

)
Tax paid (388,490 ) (277,333 )
Net cash from operating activities 1,502,798 744,729

Cash flows from investing activities
Purchase of tangible fixed assets (1,217,996 ) (513,936 )
Sale of tangible fixed assets 26,140 -
Interest received 24,304 8,022
Net cash from investing activities (1,167,552 ) (505,914 )

Cash flows from financing activities
Loan repayments in year (883,485 ) (863,246 )
Capital repayments in year (89,245 ) (72,929 )
Amount introduced by directors 206,425 369,946
Amount withdrawn by directors (317,296 ) (221,040 )
Equity dividends paid (60,000 ) (60,000 )
Net cash from financing activities (1,143,601 ) (847,269 )

Decrease in cash and cash equivalents (808,355 ) (608,454 )
Cash and cash equivalents at beginning of
year

2

3,957,521

4,565,975

Cash and cash equivalents at end of year 2 3,149,166 3,957,521

A. Caulder & Co. Limited (Registered number: SC187615)

Notes to the Cash Flow Statement
for the Year Ended 31 December 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.12.23 31.12.22
£    £   
Profit before taxation 1,646,822 1,608,281
Depreciation charges 590,124 564,492
Profit on disposal of fixed assets (15,787 ) -
Finance costs 412,585 291,983
Finance income (24,304 ) (8,022 )
2,609,440 2,456,734
Increase in stocks (164,453 ) (920,879 )
Decrease/(increase) in trade and other debtors 2,564 (100,311 )
Decrease in trade and other creditors (143,678 ) (121,499 )
Cash generated from operations 2,303,873 1,314,045

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 3,149,166 3,957,521
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 3,957,521 4,565,975


A. Caulder & Co. Limited (Registered number: SC187615)

Notes to the Cash Flow Statement
for the Year Ended 31 December 2023

3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.1.23 Cash flow changes At 31.12.23
£    £    £    £   
Net cash
Cash at bank
and in hand 3,957,521 (808,355 ) 3,149,166
3,957,521 (808,355 ) 3,149,166
Debt
Finance leases (36,377 ) 87,131 (96,191 ) (45,437 )
Debts falling due
within 1 year (944,536 ) (2,016,921 ) - (2,961,457 )
Debts falling due
after 1 year (5,618,243 ) 2,902,520 - (2,715,723 )
(6,599,156 ) 972,730 (96,191 ) (5,722,617 )
Total (2,641,635 ) 164,375 (96,191 ) (2,573,451 )

A. Caulder & Co. Limited (Registered number: SC187615)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

A. Caulder & Co. 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 £.

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of the unit.

Turnover
Turnover from the provision of goods and services is recognised in the period in which the goods and services are provided. All goods and services provided are provided to customers on a retail basis. Turnover is stated net of discounts, rebates and value added taxes.

Tangible fixed assets
Freehold properties are initially recorded at cost and subsequently measured at fair value.

Improvements to property and Plant and machinery are stated at their purchase price, together with any incidental expenses of acquisition.

Depreciation is provided 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.


Land and Buildings - 2% on cost
Plant and Machinery - 15% on reducing balance
Fixtures and Fittings - 15% on reducing balance
Motor Vehicles - 25% on reducing balance
Computer Equipment - 33% on reducing balance

Tangible fixed assets are reviewed annually by the Directors for any indicators of impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

A. Caulder & Co. Limited (Registered number: SC187615)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using effective interest method.

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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. 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 the shorter.

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

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
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparation of the financial statements.

Government grants
Revenue related government grants are recognised on an accruals basis as the expenses to which they are related are incurred.

A. Caulder & Co. Limited (Registered number: SC187615)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

31.12.23 31.12.22
£    £   
Garden Centres and Restaurants 19,855,220 18,158,621
19,855,220 18,158,621

4. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£    £   
Wages and salaries 6,220,652 5,449,250
Social security costs 429,716 394,820
Other pension costs 121,763 78,970
6,772,131 5,923,040

The average number of employees during the year was as follows:
31.12.23 31.12.22

Garden Centres 119 126
Restaurants 254 211
Administration 24 22
397 359

31.12.23 31.12.22
£    £   
Directors' remuneration 473,620 550,140
Directors' pension contributions to money purchase schemes 37,910 7,854

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 6 6

Information regarding the highest paid director is as follows:
31.12.23 31.12.22
£    £   
Emoluments etc 115,000 150,000
Pension contributions to money purchase schemes 1,321 1,321

The Directors are considered to constitute the key management personnel of the company.

A. Caulder & Co. Limited (Registered number: SC187615)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.23 31.12.22
£    £   
Hire of plant and machinery 2,886 1,408
Operating lease income (300,648 ) (238,324 )
Depreciation - owned assets 541,573 507,737
Depreciation - assets on hire purchase contracts 48,551 56,756
Profit on disposal of fixed assets (15,787 ) -
Auditors' remuneration 25,000 25,000
Auditors' remuneration for non audit work 5,000 5,000

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
£    £   
Bank loan interest 406,808 286,423
Hire purchase 5,777 5,560
412,585 291,983

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax 443,432 388,490

Deferred tax (121,426 ) (24,041 )
Tax on profit 322,006 364,449

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.23 31.12.22
£    £   
Profit before tax 1,646,822 1,608,281
Profit multiplied by the standard rate of corporation tax in the UK of
23.521% (2022 - 19%)

387,349

305,573

Effects of:
Expenses not deductible for tax purposes 8,315 2,446
Income not taxable for tax purposes (3,713 ) -
Depreciation in excess of capital allowances 53,005 80,471
Adjustments to tax charge in respect of previous periods (1,524 ) -
Deferred tax movement (121,426 ) (24,041 )
Total tax charge 322,006 364,449

A. Caulder & Co. Limited (Registered number: SC187615)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. TAXATION - continued

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 31 December 2023.

31.12.22
Gross Tax Net
£    £    £   
Property Revaluations
Deferred Tax Movement on Revaluations
- - -

8. DIVIDENDS
31.12.23 31.12.22
£    £   
Interim 60,000 60,000

9. TANGIBLE FIXED ASSETS
Improvements
Freehold Short to Plant and
property leasehold property machinery
£    £    £    £   
COST OR VALUATION
At 1 January 2023 14,976,436 990,850 344,318 524,784
Additions 743,135 - 347,246 55,000
Disposals - - - -
At 31 December 2023 15,719,571 990,850 691,564 579,784
DEPRECIATION
At 1 January 2023 299,436 19,850 7,104 298,785
Charge for year 314,391 19,817 13,831 42,150
Eliminated on disposal - - - -
At 31 December 2023 613,827 39,667 20,935 340,935
NET BOOK VALUE
At 31 December 2023 15,105,744 951,183 670,629 238,849
At 31 December 2022 14,677,000 971,000 337,214 225,999

A. Caulder & Co. Limited (Registered number: SC187615)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023 1,134,756 331,541 122,766 18,425,451
Additions 61,460 107,346 - 1,314,187
Disposals - (30,450 ) - (30,450 )
At 31 December 2023 1,196,216 408,437 122,766 19,709,188
DEPRECIATION
At 1 January 2023 477,756 239,360 96,166 1,438,457
Charge for year 107,769 83,388 8,778 590,124
Eliminated on disposal - (20,097 ) - (20,097 )
At 31 December 2023 585,525 302,651 104,944 2,008,484
NET BOOK VALUE
At 31 December 2023 610,691 105,786 17,822 17,700,704
At 31 December 2022 657,000 92,181 26,600 16,986,994

Cost or valuation at 31 December 2023 is represented by:

Improvements
Freehold Short to Plant and
property leasehold property machinery
£    £    £    £   
Valuation in 2018 1,148,684 - - -
Valuation in 2021 6,141,028 - - -
Cost 8,429,859 990,850 691,564 579,784
15,719,571 990,850 691,564 579,784

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2018 - - - 1,148,684
Valuation in 2021 - - - 6,141,028
Cost 1,196,216 408,437 122,766 12,419,476
1,196,216 408,437 122,766 19,709,188

Leasehold property was valued on a fair value basis at the Balance Sheet date by the Directors, taking into account previous valuations. The Directors consider this a prudent approach at the Balance Sheet date.

Freehold property was valued on an open market basis on 31st August 2021 by Simon Quinton Smith FRICS MI Hort for and on behalf of Quintons Commercial Ltd. Freehold property additions since that date are held at cost, which the Directors consider to represent fair value at the Balance Sheet date.

A. Caulder & Co. Limited (Registered number: SC187615)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 83,250 157,678 240,928
Additions 55,000 51,258 106,258
Disposals - (14,117 ) (14,117 )
Transfer to ownership (83,250 ) (72,695 ) (155,945 )
At 31 December 2023 55,000 122,124 177,124
DEPRECIATION
At 1 January 2023 33,118 107,109 140,227
Charge for year 8,250 40,301 48,551
Eliminated on disposal - (9,317 ) (9,317 )
Transfer to ownership (33,118 ) (61,892 ) (95,010 )
At 31 December 2023 8,250 76,201 84,451
NET BOOK VALUE
At 31 December 2023 46,750 45,923 92,673
At 31 December 2022 50,132 50,569 100,701

10. STOCKS
31.12.23 31.12.22
£    £   
Stocks 2,561,748 2,397,295

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 20,850 2,250
Other debtors 282,589 304,596
Directors' current accounts 19,225 -
Prepayments 61,846 61,003
384,510 367,849

A. Caulder & Co. Limited (Registered number: SC187615)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 14) 2,897,287 878,253
Other loans (see note 14) 64,170 66,283
Trade creditors 768,302 994,414
Tax 241,471 186,529
Social security and other taxes 149,152 180,592
VAT 645,526 570,949
Other creditors 141,013 104,029
Credit Card 1,820 9,502
Directors' current accounts - 91,646
Accrued expenses 282,796 272,801
5,191,537 3,354,998

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 14) 2,700,027 5,597,315
Other loans (see note 14) 15,696 20,928
Hire purchase contracts (see note 15) 45,437 36,377
2,761,160 5,654,620

14. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 2,897,287 878,253
Hire Purchase 58,938 61,051
Other Loans 5,232 5,232
2,961,457 944,536

Amounts falling due between one and two years:
Bank loans - 1-2 years 1,064,179 2,892,562
Other loans - 1-2 years 5,232 5,232
1,069,411 2,897,794

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,635,848 2,704,753
Other loans - 2-5 years 10,464 15,696
1,646,312 2,720,449

Included within loans due within one year is £1.86m of loans which were renewed after the balance sheet date but prior to the date of this report, these are now repayable over a renewed 5 year term.

A. Caulder & Co. Limited (Registered number: SC187615)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Between one and five years 45,437 36,377

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 415,968 413,968
Between one and five years 1,589,872 1,589,872
In more than five years 2,521,602 2,919,070
4,527,442 4,922,910

16. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 5,597,314 6,475,568

The debts are secured by standard securities over the freehold Garden Centre properties of the company and a floating charge over the assets and undertakings of the company.

17. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 1,986,189 2,107,615

Deferred
tax
£   
Balance at 1 January 2023 2,107,615
Credit to Income Statement during year (121,426 )
Balance at 31 December 2023 1,986,189

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
15,000 Ordinary 1 15,000 15,000

A. Caulder & Co. Limited (Registered number: SC187615)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

19. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 January 2023 6,344,670 142,958 6,089,798 12,577,426
Profit for the year 1,324,816 1,324,816
Dividends (60,000 ) (60,000 )
Revaluation release 160,940 - (160,940 ) -
Deferred tax (81,241 ) - 81,241 -
At 31 December 2023 7,689,185 142,958 6,010,099 13,842,242

20. PENSION COMMITMENTS

During the year the company made contributions to defined contribution pension schemes for its directors and employees totalling £121,763 (2022: £78,970).

21. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
C Barrie
Balance outstanding at start of year - 39,777
Amounts advanced 111,746 75,000
Amounts repaid (94,651 ) (114,777 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,095 -

Mrs A Barrie
Balance outstanding at start of year - 3,481
Amounts advanced 101,434 75,000
Amounts repaid (99,305 ) (78,481 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,129 -

Ms L MacDonald
Balance outstanding at start of year - 14,000
Amounts repaid - (14,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

22. RELATED PARTY DISCLOSURES

During the year, total dividends of £60,000 were paid to the directors .

A. Caulder & Co. Limited (Registered number: SC187615)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

22. RELATED PARTY DISCLOSURES - continued


During the year, the company rented property from Colin and Mandy Barrie. The charge for the year ended 31 December 2023 amounted to £127,000 (2022: £127,000). The company also acquired property from Colin and Mandy Barrie's pension fund at a cost of £250,000.







23. ULTIMATE CONTROLLING PARTY

The controlling party is C Barrie.