Company registration number SC504764 (Scotland)
CAMERON-RAINEY (HELENSBURGH) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
CAMERON-RAINEY (HELENSBURGH) LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
CAMERON-RAINEY (HELENSBURGH) LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
59,316
74,147
Current assets
Stocks
28,127
28,373
Debtors
4
41,426
35,705
Cash at bank and in hand
72,160
80,389
141,713
144,467
Creditors: amounts falling due within one year
5
(90,272)
(87,167)
Net current assets
51,441
57,300
Total assets less current liabilities
110,757
131,447
Creditors: amounts falling due after more than one year
6
(12,444)
(22,632)
Provisions for liabilities
(14,829)
(18,537)
Net assets
83,484
90,278
Capital and reserves
Called up share capital
7
50
50
Capital redemption reserve
50
50
Profit and loss reserves
83,384
90,178
Total equity
83,484
90,278

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 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her 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.

The financial statements were approved and signed by the director and authorised for issue on 11 September 2024
Mrs R Rainey
Director
Company Registration No. SC504764
CAMERON-RAINEY (HELENSBURGH) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 May 2022
50
50
112,058
112,158
Year ended 30 April 2023:
Profit and total comprehensive income
-
-
29,673
29,673
Dividends
-
-
(51,553)
(51,553)
Balance at 30 April 2023
50
50
90,178
90,278
Year ended 30 April 2024:
Profit and total comprehensive income
-
-
46,806
46,806
Dividends
-
-
(53,600)
(53,600)
Balance at 30 April 2024
50
50
83,384
83,484
CAMERON-RAINEY (HELENSBURGH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Cameron-Rainey (Helensburgh) Limited is a private company limited by shares incorporated in Scotland. The registered office is 9 West Princes Street, Helensburgh, Dunbartonshire, Scotland, G84 8TF.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for goods and services provided in the normal course of business, net of trade discounts, VAT and other sales-related taxes.

Turnover is recognised as earned when, and to the extent that, the company obtains the right to consideration in the exchange for goods and services provided.

Revenue from the sale of spectacles, contact lenses and other related products 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.

Revenue from the provision of optometry services is recognised when the service is provided.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, 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 the following bases:

Professional Equipment
20% Reducing Balance
Fixtures and fittings
20% Reducing Balance
Computers
20% Reducing Balance
1.4
Stocks

Stocks 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 cost and replacement 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.

CAMERON-RAINEY (HELENSBURGH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet 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.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.6
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.

 

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.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.

CAMERON-RAINEY (HELENSBURGH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
2
Employees

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

2024
2023
Number
Number
Total
10
11
3
Tangible fixed assets
Professional Equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 May 2023 and 30 April 2024
26,557
209,741
24,490
260,788
Depreciation and impairment
At 1 May 2023
9,590
169,904
7,147
186,641
Depreciation charged in the year
3,395
7,968
3,468
14,831
At 30 April 2024
12,985
177,872
10,615
201,472
Carrying amount
At 30 April 2024
13,572
31,869
13,875
59,316
At 30 April 2023
16,967
39,837
17,343
74,147
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
18,789
16,799
Other debtors
6,672
3,239
Prepayments and accrued income
15,965
15,667
41,426
35,705
CAMERON-RAINEY (HELENSBURGH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
9,940
9,692
Trade creditors
42,612
47,397
Corporation tax
18,268
8,931
Other taxation and social security
4,772
5,178
Other creditors
11,442
8,651
Accruals and deferred income
3,238
7,318
90,272
87,167
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
12,444
22,632
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
50
50
50
50
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
32,500
58,500
9
Related party transactions

During the year, the company loaned money to Cameron-Rainey Limited. At the year end, the amount owing from Cameron-Rainey Limited was £178 this amount is included in other debtors. A company with a common director.

 

During the year, the company also loaned money to Cameron-Rainey Properties Limited. At the year end, the amount owing from Cameron-Rainey Properties Limited was £5,239 this amount is included in other debtors. A company with a common director.

CAMERON-RAINEY (HELENSBURGH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
10
Directors' transactions

Dividends totalling £53,600 (2023 - £51,553) were paid in the year in respect of shares held by the company's directors.

The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director's fees. At the year end,

the amount outstanding to the director was £2,959 (2023: £1,582). This is included within creditors; amounts falling due within one year.

 

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