REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
CA Models Ltd. |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
CA Models Ltd. |
CA Models Ltd. (Registered number: SC121230) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
CA Models Ltd. (Registered number: SC121230) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Investments | 6 |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
CA Models Ltd. (Registered number: SC121230) |
Balance Sheet - continued |
31 December 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 |
CA Models Ltd. (Registered number: SC121230) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
CA Models Limited is a private company, limited by shares, domiciled in Scotland, registration number SC121230. The registered office is Springkerse Industrial Estate, Stirling, Stirlingshire, FK7 7UW. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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 |
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. |
Government grants |
Government grants have been recognised in the profit and loss account so as to match them with the expected useful economic life of the related asset. |
CA Models Ltd. (Registered number: SC121230) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Included in the above are assets held under hire purchase contracts. The cost of these assets amounts to £2,554,583 (2022:£2,613,109). The accumulated depreciation and depreciation charged for the year on these assets amounts to £1,059,790 (2022:£825,580) and £263,787 (2022:£366,852). |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Other debtors |
6. | CURRENT ASSET INVESTMENTS |
As at 31 December 2023 the current asset investment had a value of £206,767. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
Included amongst Other creditors are Regional Selective Assistance grants from the Scottish Executive. The property grant for £120,000 is being written off over the useful life of the asset and amortised at 2%. As at 31 December 2023 the balance had reduced to £79,200.The plant and machinery asset grant for £82,000 is being written off over the useful life of the asset and amortised at 15%. As at 31 December 2023 the balance had reduced to £42,805.The plant and machinery asset grant received in 2021 of £368,000 is being written off over the useful life of the asset and amortised at 15%. As at 31 December 2023 the balance had reduced to £225,998. |
CA Models Ltd. (Registered number: SC121230) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Hire purchase contracts |
Other creditors |
The bank facilities were secured by: |
A floating charge over the assets and undertakings of the company and a legal first charge over Unit 10 Borrowmeadow Road, Springkerse Industrial Estate, Stirling. |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.23 | 31.12.22 |
£ | £ |
The bank facilities were secured by: |
A floating charge over the assets and undertakings of the company and a legal first charge over Unit 10 Borrowmeadow Road, Springkerse Industrial Estate, Stirling. |
10. | CONTINGENT LIABILITIES |
The grants from the Scottish Executive may be repayable in certain circumstances. |
11. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £200,000 were paid to the directors . |
There were no material related party transactions during the year under review. |
12. | POST BALANCE SHEET EVENTS |
The share capital was purchased by Prototal Industries AB on 31 January 2024. |