Company registration number SC167726 (Scotland)
Cathkin Clean Scotland Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 December 2023
PAGES FOR FILING WITH REGISTRAR
Cathkin Clean Scotland Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
Cathkin Clean Scotland Limited
Statement Of Financial Position
as at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
33,912
51,445
Tangible assets
4
352,692
220,261
386,604
271,706
Current assets
Debtors
400,373
162,864
Cash at bank and in hand
444,890
831,959
845,263
994,823
Creditors: amounts falling due within one year
(186,395)
(204,376)
Net current assets
658,868
790,447
Total assets less current liabilities
1,045,472
1,062,153
Creditors: amounts falling due after more than one year
(39,042)
(168,697)
Provisions for liabilities
5
(75,124)
(38,424)
Net assets
931,306
855,032
Capital and reserves
Called up share capital
6
35,000
35,000
Profit and loss reserves
896,306
820,032
Total equity
931,306
855,032
Cathkin Clean Scotland Limited
Statement Of Financial Position (continued)
as at 31 December 2023
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 December 2023 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.
The financial statements were approved and signed by the director and authorised for issue on 18 September 2024
S Khandelwal
Director
Company registration number SC167726 (Scotland)
Cathkin Clean Scotland Limited
Notes to the financial statements
for the year ended 31 December 2023
- 3 -
1
Accounting policies
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.
Turnover
Turnover represents the fair value of the consideration received for goods and services provided in the normal course of business, and is shown net of VAT. Turnover is recognised upon the provision of goods and services.
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation 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:
Development costs
20% straight line
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
10% straight line
Plant and equipment
20% reducing balance
Computers
33.33% straight line
Motor vehicles
25% reducing balance
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.
Cathkin Clean Scotland Limited
Notes to the financial statements (continued)
for the year ended 31 December 2023
1
Accounting policies
(continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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 statement of financial position 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.
Government grants
Government grants are recognised at the fair value of the asset received and are recognised over the same period in which related costs are incurred.
Government grants relate to Coronavirus Job Retention Scheme (CJRS) funding of staff who have been furloughed due to Covid-19. These revenue-based grants are recognised over the same period in which the related costs are incurred.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
25
26
Cathkin Clean Scotland Limited
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 5 -
3
Intangible fixed assets
Goodwill
Development costs
Total
£
£
£
Cost
At 1 January 2023
60,000
158,917
218,917
Additions
15,000
15,000
At 31 December 2023
75,000
158,917
233,917
Amortisation and impairment
At 1 January 2023
60,000
107,472
167,472
Amortisation charged for the year
750
31,783
32,533
At 31 December 2023
60,750
139,255
200,005
Carrying amount
At 31 December 2023
14,250
19,662
33,912
At 31 December 2022
51,445
51,445
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023
89,250
324,891
6,280
172,154
592,575
Additions
13,917
131,665
74,452
220,034
Disposals
(29,715)
(29,715)
At 31 December 2023
103,167
456,556
6,280
216,891
782,894
Depreciation and impairment
At 1 January 2023
86,879
219,291
6,280
59,864
372,314
Depreciation charged in the year
1,868
46,350
33,388
81,606
Eliminated in respect of disposals
(23,718)
(23,718)
At 31 December 2023
88,747
265,641
6,280
69,534
430,202
Carrying amount
At 31 December 2023
14,420
190,915
147,357
352,692
At 31 December 2022
2,371
105,600
112,290
220,261
5
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
75,124
38,424
Cathkin Clean Scotland Limited
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 6 -
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
35,000
35,000
35,000
35,000
7
Parent company
The parent company is ALS Group Holdings Limited, a company incorporated in Scotland, whose registered office is 252 Union Street, Aberdeen, AB10 1TN.
8
Company information
Cathkin Clean Scotland Limited is a private company limited by shares incorporated in Scotland. The registered office is Amicable House, 252 Union Street, Aberdeen, Scotland, AB10 1TN.