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REGISTERED NUMBER: SC619471 (Scotland)




















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: Dr M S Chang



REGISTERED OFFICE: 8 Unit F
Edgefield Road
Loanhead
EH20 9TB



REGISTERED NUMBER: SC619471 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: HSBC
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 4 461,051 544,011

CURRENT ASSETS
Stocks 383,877 377,374
Debtors 5 158,992 175,608
Cash at bank 184,238 229,294
727,107 782,276
CREDITORS
Amounts falling due within one year 6 2,576,140 1,985,475
NET CURRENT LIABILITIES (1,849,033 ) (1,203,199 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,387,982

)

(659,188

)

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings (1,389,982 ) (661,188 )
(1,387,982 ) (659,188 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 27 May 2024 and were signed by:





Dr M S Chang - Director


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 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost, 20% on cost and 2% on cost

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 9 (2022 - 7 ) .

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 1,208,404
Additions 18,685
At 31 December 2023 1,227,089
DEPRECIATION
At 1 January 2023 664,393
Charge for year 101,645
At 31 December 2023 766,038
NET BOOK VALUE
At 31 December 2023 461,051
At 31 December 2022 544,011

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 44,242 8,233
Other debtors 114,750 167,375
158,992 175,608

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 1,576,004 1,317,231
Taxation and social security 22,593 18,464
Other creditors 977,543 649,780
2,576,140 1,985,475

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.