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REGISTERED NUMBER: SC203427 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Clan Scotland Limited

Clan Scotland Limited (Registered number: SC203427)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clan Scotland Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: B Halley
C Halley





SECRETARY: B Halley





REGISTERED OFFICE: T/A Slanj
604 Duke Street
Glasgow
G31 1JX





REGISTERED NUMBER: SC203427 (Scotland)





ACCOUNTANTS: D.J. Martin & Co.
40/42 Brantwood Avenue
Dundee
Tayside
DD3 6EW

Clan Scotland Limited (Registered number: SC203427)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,000 37,500
Tangible assets 5 28,415 32,492
58,415 69,992

CURRENT ASSETS
Stocks 162,511 143,497
Debtors 6 405,015 188,435
Cash at bank and in hand 82,681 334,545
650,207 666,477
CREDITORS
Amounts falling due within one year 7 228,335 254,679
NET CURRENT ASSETS 421,872 411,798
TOTAL ASSETS LESS CURRENT
LIABILITIES

480,287

481,790

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 480,177 481,680
SHAREHOLDERS' FUNDS 480,287 481,790

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Clan Scotland Limited (Registered number: SC203427)

Balance Sheet - continued
31 January 2024


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 Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:





B Halley - Director


Clan Scotland Limited (Registered number: SC203427)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Clan Scotland Limited 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
Turnover is measured at the fair value of the consideration received or receivable, including discounts and rebates, but excluding value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Clan Scotland Limited (Registered number: SC203427)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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.

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 NIL (2023 - 23 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 150,000
AMORTISATION
At 1 February 2023 112,500
Charge for year 7,500
At 31 January 2024 120,000
NET BOOK VALUE
At 31 January 2024 30,000
At 31 January 2023 37,500

Clan Scotland Limited (Registered number: SC203427)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 55,429 55,730 10,750 16,550 138,459
Additions - 585 - 1,040 1,625
At 31 January 2024 55,429 56,315 10,750 17,590 140,084
DEPRECIATION
At 1 February 2023 34,700 47,641 7,408 16,218 105,967
Charge for year 3,109 1,301 835 457 5,702
At 31 January 2024 37,809 48,942 8,243 16,675 111,669
NET BOOK VALUE
At 31 January 2024 17,620 7,373 2,507 915 28,415
At 31 January 2023 20,729 8,089 3,342 332 32,492

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 405,015 188,435

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts - 4,000
Creditors & accruals 180,583 186,284
Taxation and social security 45,922 62,821
Other creditors 1,830 1,574
228,335 254,679