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Company No: 13148889 (England and Wales)

CLAN ARDOCH LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

CLAN ARDOCH LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

CLAN ARDOCH LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
CLAN ARDOCH LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 600,209 599,311
600,209 599,311
Current assets
Debtors 4 6,091 1,270
Cash at bank and in hand 10,420 1,081
16,511 2,351
Creditors: amounts falling due within one year 5 ( 604,955) ( 606,462)
Net current liabilities (588,444) (604,111)
Total assets less current liabilities 11,765 (4,800)
Provision for liabilities ( 2,059) 990
Net assets/(liabilities) 9,706 ( 3,810)
Capital and reserves
Called-up share capital 128 128
Profit and loss account 9,578 ( 3,938 )
Total shareholders' funds/(deficit) 9,706 ( 3,810)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Clan Ardoch Ltd (registered number: 13148889) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Alan Dunwoodie
Director

13 October 2024

CLAN ARDOCH LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
CLAN ARDOCH LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Clan Ardoch Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 80 Grove Lane, Holt, NR25 6ED, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Fixtures and fittings 15 % reducing balance
Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

The Company has no employees other than directors, who did not receive any remuneration.

3. Tangible assets

Land and buildings Fixtures and fittings Total
£ £ £
Cost
At 01 April 2023 575,710 30,934 606,644
Additions 0 4,696 4,696
At 31 March 2024 575,710 35,630 611,340
Accumulated depreciation
At 01 April 2023 0 7,333 7,333
Charge for the financial year 0 3,798 3,798
At 31 March 2024 0 11,131 11,131
Net book value
At 31 March 2024 575,710 24,499 600,209
At 31 March 2023 575,710 23,601 599,311

4. Debtors

2024 2023
£ £
Trade debtors 4,927 0
Prepayments 1,164 1,270
6,091 1,270

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 2,065
Amounts owed to directors 602,425 601,801
Accruals and deferred income 2,530 2,596
604,955 606,462

6. Related party transactions

At the year end, and included within other creditors, is £602,113 (2023: £601,802) due to the directors , which is repayable on demand.

Throughout the period the Company made sales to related parties totalling £9,191 (2023: £8,891).