REGISTERED NUMBER: |
The Secrets Of Caledonia Co. Ltd |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
REGISTERED NUMBER: |
The Secrets Of Caledonia Co. Ltd |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
The Secrets Of Caledonia Co. Ltd (Registered number: SC619471) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
The Secrets Of Caledonia Co. Ltd |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
9 Ainslie Place |
Edinburgh |
Midlothian |
EH3 6AT |
BANKERS: |
118 Princes Street |
Edinburgh |
EH2 4AA |
The Secrets Of Caledonia Co. Ltd (Registered number: SC619471) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges her 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 Secrets Of Caledonia Co. Ltd (Registered number: SC619471) |
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 director and authorised for issue on |
The Secrets Of Caledonia Co. Ltd (Registered number: SC619471) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
The Secrets Of Caledonia Co. Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover and revenue recognition |
Turnover, which represents net invoiced sales of goods and provision of farmland management services exclusive of value added tax. Revenue from sales of goods is recognised at the point when the product is delivered to the customer. Revenue from management services is recognised in accordance with the respective agreements. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
All loans with related parties are all repayable on demand. |
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. |
The Secrets Of Caledonia Co. Ltd (Registered number: SC619471) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
The Secrets Of Caledonia Co. Ltd (Registered number: SC619471) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
There was interest charged of 5% per annum on the outstanding balance of the director's current account. |
7. | LEASING AGREEMENTS |
The company has minimum lease payments under non-cancellable operating leases totalling £177,811 (2022: £226,207). |
The Secrets Of Caledonia Co. Ltd (Registered number: SC619471) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
8. | RELATED PARTY DISCLOSURES |
The company leased a farmland with property at Tyne Steading, Ormiston, Tranent, East Lothian, EH35 5NQ from the director for free of charge rent in the year (2022: £Nil). |
During the year, there were sales totalling £253,097 (2022: £446,554) including managment fee of £100,000 (2022: £145,833) from The Garden of Naturalsolution Co., Ltd, a company which registered at 12-24 Gajangsaneopseo-ro, Osan-si, Gyeonggi-do, South Korea of which Dr M S Chang is the director of the company and majority shareholder. The Garden of Naturalsolution Co., Ltd paid expenses amounting to £37,452 (2022: £84,620) on behalf of the company and loaned £11,324 (2022: £Nil) to the company. There was a balance of £548,056 (2022: £499,280) due to The Garden of Naturalsolution Co., Ltd on 31 December 2023. |
The Secrets of Caledonia Co. Ltd is a wholly owned subsidiary of Natural Herb Solution UK Ltd. During the year, there was a loan of £240,000 (2022: £400,000) from Natural Herb Solution UK Ltd. There was interest charged of 5.00% per annum on the loans made to the company in 2023, totalling £48,163 (2022: £29,391). The company repaid £29,390 (2022: £37,566) to Natural Herb Solution UK Ltd in the year. There was a balance of £1,576,004 (2022: £1,317,231) due to Natural Herb Solution UK Ltd on 31 December 2023. |
The Beauty of Edinburgh Ltd and Diana Drummond Limited are wholly owned subsidiaries of NS Herbalist UK Limited. During the year, the company paid expenses amounting to £1,124 (2022: £58,409) on behalf of The Beauty of Edinburgh Ltd. The company received repayment of £57,257 (2022: £2,530) from The Beauty of Edinburgh Ltd and £Nil (2022: £254) from Diana Drummond Limited. The amount due from The Beauty of Edinburgh Ltd was £56,764 (2022: £112,897) and £987 (2022: £987) due from Diana Drummond Limited on 31 December 2023. |
During the year, there were sales totalling £36,010 (2022: £32,939) from The Art of Natural Solution Inc., a company which registered at 45 Commerce Way Unit K, Totowa, New Jersey, 07512-1154 United States and is a wholly owned subsidiary of Natural Herb Solution UK Ltd. No amount (2022: £Nil) is outstanding as at 31 December 2023. |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Dr M S Chang. |
The Secrets of Caledonia Co. Ltd is a wholly owned subsidiary of Natural Herb Solution UK Ltd, a company registered in England and Wales and whose registered office is 92 Westbury Road, New Malden, England, KT3 5AN. |
10. | GOING CONCERN |
The financial statements have been prepared on the going concern principal which assumes that the company will continue to function in the foreseeable future. In order to do so the company will require the continued support of its director, creditors and parent company. The director will continue to support the company and is confident of the continued support of the parent company. |