Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-01-01falseNo description of principal activity77trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC352798 2023-01-01 2024-03-31 SC352798 2022-01-01 2022-12-31 SC352798 2024-03-31 SC352798 2022-12-31 SC352798 c:CompanySecretary1 2023-01-01 2024-03-31 SC352798 c:Director1 2023-01-01 2024-03-31 SC352798 c:Director2 2023-01-01 2024-03-31 SC352798 c:Director3 2023-01-01 2024-03-31 SC352798 c:RegisteredOffice 2023-01-01 2024-03-31 SC352798 d:PlantMachinery 2023-01-01 2024-03-31 SC352798 d:PlantMachinery 2024-03-31 SC352798 d:PlantMachinery 2022-12-31 SC352798 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2024-03-31 SC352798 d:MotorVehicles 2023-01-01 2024-03-31 SC352798 d:MotorVehicles 2024-03-31 SC352798 d:MotorVehicles 2022-12-31 SC352798 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2024-03-31 SC352798 d:OfficeEquipment 2023-01-01 2024-03-31 SC352798 d:OfficeEquipment 2024-03-31 SC352798 d:OfficeEquipment 2022-12-31 SC352798 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2024-03-31 SC352798 d:OwnedOrFreeholdAssets 2023-01-01 2024-03-31 SC352798 d:CurrentFinancialInstruments 2024-03-31 SC352798 d:CurrentFinancialInstruments 2022-12-31 SC352798 d:Non-currentFinancialInstruments 2024-03-31 SC352798 d:Non-currentFinancialInstruments 2022-12-31 SC352798 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC352798 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC352798 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC352798 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 SC352798 d:ShareCapital 2024-03-31 SC352798 d:ShareCapital 2022-12-31 SC352798 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC352798 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC352798 c:OrdinaryShareClass1 2023-01-01 2024-03-31 SC352798 c:OrdinaryShareClass1 2024-03-31 SC352798 c:OrdinaryShareClass1 2022-12-31 SC352798 c:FRS102 2023-01-01 2024-03-31 SC352798 c:AuditExempt-NoAccountantsReport 2023-01-01 2024-03-31 SC352798 c:FullAccounts 2023-01-01 2024-03-31 SC352798 c:PrivateLimitedCompanyLtd 2023-01-01 2024-03-31 SC352798 4 2024-03-31 SC352798 4 2022-12-31 SC352798 f:PoundSterling 2023-01-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC352798










OBAN SCALLOP GEAR LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

 
OBAN SCALLOP GEAR LIMITED
 

COMPANY INFORMATION


DIRECTORS
J S Adam 
J S Adam Jnr 
Mrs L D Adam 




COMPANY SECRETARY
J S Adam



REGISTERED NUMBER
SC352798



REGISTERED OFFICE
Westby
64 West High Street

Forfar

Angus

DD8 1BJ




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
OBAN SCALLOP GEAR LIMITED
REGISTERED NUMBER:SC352798

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

31 March
31 December
2024
2022
£
£

FIXED ASSETS
  

Tangible assets
 4 
290,344
261,824

Investments
 5 
50
-

  
290,394
261,824

CURRENT ASSETS
  

Stocks
  
104,573
117,804

Debtors: amounts falling due within one year
 6 
708,999
122,825

Bank & cash balances
  
69,757
434,415

  
883,329
675,044

Creditors: amounts falling due within one year
 7 
(285,639)
(207,287)

NET CURRENT ASSETS
  
 
 
597,690
 
 
467,757

TOTAL ASSETS LESS CURRENT LIABILITIES
  
888,084
729,581

Creditors: amounts falling due after more than one year
 8 
(17,157)
-

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(72,586)
(49,747)

  
 
 
(72,586)
 
 
(49,747)

NET ASSETS
  
798,341
679,834


CAPITAL AND RESERVES
  

Called up share capital 
 9 
100
100

Profit and loss account
  
798,241
679,734

  
798,341
679,834


Page 1

 
OBAN SCALLOP GEAR LIMITED
REGISTERED NUMBER:SC352798

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 on 17 October 2024.




J S Adam
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
OBAN SCALLOP GEAR LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024


1.


GENERAL INFORMATION

Oban Scallop Gear Limited is a private company, limited by shares, incorporated in Scotland with registration number SC352798.  The registered office is Westby, 64 West High Street, Forfar, Angus, DD8 1BJ. The principal place of business is Unit 2, Old Tweedmill, Soroba Road, Oban, PA34 8QP.                   
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 turnover 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 turnover 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 turnover 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

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
OBAN SCALLOP GEAR LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (continued)


2.3
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
12.5%
Reducing Balance
Motor vehicles
-
25.0%
Reducing Balance
Office equipment
-
15.0%
Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the period was 7 (2022 - 7).

Page 4

 
OBAN SCALLOP GEAR LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024


4.


TANGIBLE FIXED ASSETS







Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



COST OR VALUATION


At 1 January 2023
347,672
130,579
1,614
479,865


Additions
115,293
21,000
-
136,293


Disposals
-
(68,895)
(1,614)
(70,509)



At 31 March 2024

462,965
82,684
-
545,649



DEPRECIATION


At 1 January 2023
146,479
70,295
1,267
218,041


Charge for the period on owned assets
49,451
10,595
-
60,046


Disposals
-
(21,515)
(1,267)
(22,782)



At 31 March 2024

195,930
59,375
-
255,305



NET BOOK VALUE



At 31 March 2024
267,035
23,309
-
290,344



At 31 December 2022
201,193
60,284
347
261,824


5.


FIXED ASSET INVESTMENTS








Trade investments

£





Additions

50






NET BOOK VALUE



At 31 March 2024
50



At 31 December 2022
-

Page 5

 
OBAN SCALLOP GEAR LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024


6.


DEBTORS

31 March
31 December
2024
2022
£
£


Trade debtors
264,083
122,825

Other debtors
444,916
-

708,999
122,825


Included within other debtors due within one year are loans to J S Adam Jnr and J S Adam Snr, directors, amounting to £444,916 (2022 - £nil). £444,916 was advanced during the year. The main conditions were as follows:

Interest is charged at the official interest rate. The loasn are repayable on demand.


7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31 March
31 December
2024
2022
£
£

Trade creditors
131,737
55,766

Other taxation and social security
136,745
57,667

Obligations under finance lease and hire purchase contracts
17,157
-

Other creditors
-
93,854

285,639
207,287



8.


CREDITORS: Amounts falling due after more than one year

31 March
31 December
2024
2022
£
£

Net obligations under finance leases and hire purchase contracts
17,157
-

17,157
-



9.


SHARE CAPITAL

31 March
31 December
2024
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



Page 6