2023-04-012024-03-312024-03-31falseSC476000CALIDO FUELS 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CALIDO FUELS LIMITED

Registered Number
SC476000
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

CALIDO FUELS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

FARRELL, John Richard
FARRELL, Lauren

Registered Address

Unit 3a Bandeath Industrial Estate
Throsk
Stirling
FK7 7NP

Registered Number

SC476000 (Scotland)
CALIDO FUELS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4137,65599,320
137,65599,320
Current assets
Stocks5863,416951,287
Debtors659,52283,492
Cash at bank and on hand92,749166,932
1,015,6871,201,711
Creditors amounts falling due within one year7(704,500)(882,301)
Net current assets (liabilities)311,187319,410
Total assets less current liabilities448,842418,730
Creditors amounts falling due after one year8(115,096)(170,793)
Provisions for liabilities10(12,955)(17,685)
Net assets320,791230,252
Capital and reserves
Called up share capital101101
Profit and loss account320,690230,151
Shareholders' funds320,791230,252
The financial statements were approved and authorised for issue by the Board of Directors on 28 October 2024, and are signed on its behalf by:
FARRELL, John Richard
Director
FARRELL, Lauren
Director

Registered Company No. SC476000
CALIDO FUELS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-4
Fixtures and fittings25-
Vehicles25-
Office Equipment25-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year87
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 April 236,24027,05886,06241,7609,918171,038
Additions-9,26154,4958,3897,45179,596
At 31 March 246,24036,319140,55750,14917,369250,634
Depreciation and impairment
At 01 April 23-12,30335,61718,6075,19171,718
Charge for year-7,16625,1106,7692,21641,261
At 31 March 24-19,46960,72725,3767,407112,979
Net book value
At 31 March 246,24016,85079,83024,7739,962137,655
At 31 March 236,24014,75550,44523,1534,72799,320
5.Stocks

2024

2023

££
Other stocks863,416951,287
Total863,416951,287
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables97716,868
Other debtors-63,442
Prepayments and accrued income58,5453,182
Total59,52283,492
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables533,950669,010
Bank borrowings and overdrafts76,667182,391
Taxation and social security58,91519,936
Finance lease and HP contracts20,238-
Other creditors10,93310,964
Accrued liabilities and deferred income3,797-
Total704,500882,301
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts11,66780,593
Other creditors103,42990,200
Total115,096170,793
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts47,59932,931
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)12,95517,685
Total12,95517,685