Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-282024-02-28falseNo description of principal activity22023-02-17falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC759361 2023-02-16 SC759361 2023-02-17 2024-02-28 SC759361 2022-02-17 2023-02-16 SC759361 2024-02-28 SC759361 c:Director1 2023-02-17 2024-02-28 SC759361 c:Director1 2024-02-28 SC759361 c:Director2 2023-02-17 2024-02-28 SC759361 c:Director2 2024-02-28 SC759361 c:RegisteredOffice 2023-02-17 2024-02-28 SC759361 d:CurrentFinancialInstruments 2024-02-28 SC759361 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-28 SC759361 d:ShareCapital 2024-02-28 SC759361 d:RetainedEarningsAccumulatedLosses 2024-02-28 SC759361 c:OrdinaryShareClass1 2023-02-17 2024-02-28 SC759361 c:OrdinaryShareClass1 2024-02-28 SC759361 c:FRS102 2023-02-17 2024-02-28 SC759361 c:AuditExempt-NoAccountantsReport 2023-02-17 2024-02-28 SC759361 c:FullAccounts 2023-02-17 2024-02-28 SC759361 c:PrivateLimitedCompanyLtd 2023-02-17 2024-02-28 SC759361 2 2023-02-17 2024-02-28 SC759361 e:PoundSterling 2023-02-17 2024-02-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC759361










CARTMORE PALLETS GLASGOW LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

 
CARTMORE PALLETS GLASGOW LTD
 

COMPANY INFORMATION


Directors
Mr C A Elder (appointed 17 February 2023)
Mr R Elder (appointed 28 April 2023)




Registered number
SC759361



Registered office
52 Arthurlie Street

Glasgow

G51 3RE




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
CARTMORE PALLETS GLASGOW LTD
REGISTERED NUMBER: SC759361

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2024

2024
£

  

Current assets
  

Stocks and work in progress
  
6,900

Debtors: amounts falling due within one year
 5 
11,424

Cash at bank and in hand
  
1,092

  
19,416

Creditors: amounts falling due within one year
 6 
(6,631)

Net current assets
  
 
 
12,785

Total assets less current liabilities
  
12,785

  

Net assets
  
12,785


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
12,784

  
12,785


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr C A Elder
Director

Date: 13 November 2024

The notes on pages 2 to 4 form part of these financial statements.
Page 1

 
CARTMORE PALLETS GLASGOW LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

1.


General information

Cartmore Pallets Glasgow is a private company, limited by shares, in Scotland with registration number SC759361. The registered office is 52 Arthurlie Street, Glasgow, G51 3RE.
The company's functional and presentational currency is GBP.
The company was incorporated on 17 February 2023 and started trading on 20 April 2023.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 2

 
CARTMORE PALLETS GLASGOW LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including the directors, during the period was 2.


4.


Stocks

2024
£

Closing stock
6,900

6,900


Page 3

 
CARTMORE PALLETS GLASGOW LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2024

5.


Debtors

2024
£


Other debtors
11,424

11,424


Included within other debtors due within one year is a loan to Mr Craig Elder, a director, amounting to £11,424. Interest was charged on the loan using HM Revenue & Customs rates. The loan was repaid in April 2024.


6.


Creditors: Amounts falling due within one year

2024
£

Other taxation and social security
4,131

Accruals and deferred income
2,500

6,631



7.


Share capital

2024
£
Allotted, called up and fully paid


1 Ordinary share of £1.00
1


The company was incorporated on the 17th February 2023, with 1 Ordinary share at a nominal value of £1 issued.


Page 4