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REGISTERED NUMBER: SC694039 (Scotland)















CARLOWAY COMMUNITY ASSOCIATION TRADING
LTD

Financial Statements for the Year Ended 31 March 2024






CARLOWAY COMMUNITY ASSOCIATION TRADING
LTD (REGISTERED NUMBER: SC694039)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

CARLOWAY COMMUNITY ASSOCIATION TRADING
LTD

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M M Steele
C Schofield
M Macarthur
M M M Graham





REGISTERED OFFICE: Carloway Community Centre
Knock
Carloway
Isle of Lewis
HS2 9AU





REGISTERED NUMBER: SC694039 (Scotland)





ACCOUNTANTS: Mann Judd Gordon Ltd
Chartered Accountants
26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF

CARLOWAY COMMUNITY ASSOCIATION TRADING
LTD (REGISTERED NUMBER: SC694039)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,301 -

CURRENT ASSETS
Stocks 21,756 1,749
Debtors 5 210 865
Cash at bank and in hand 12,575 9,886
34,541 12,500
CREDITORS
Amounts falling due within one year 6 49,384 12,499
NET CURRENT (LIABILITIES)/ASSETS (14,843 ) 1
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,542

)

1

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (9,543 ) -
(9,542 ) 1

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

CARLOWAY COMMUNITY ASSOCIATION TRADING
LTD (REGISTERED NUMBER: SC694039)

Balance Sheet - continued
31 March 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 27 November 2024 and were signed on its behalf by:





M M Steele - Director


CARLOWAY COMMUNITY ASSOCIATION TRADING
LTD (REGISTERED NUMBER: SC694039)

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

1. STATUTORY INFORMATION

Carloway Community Association Trading Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% depreciation on cost

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.

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.

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.

CARLOWAY COMMUNITY ASSOCIATION TRADING
LTD (REGISTERED NUMBER: SC694039)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
Additions 6,087
At 31 March 2024 6,087
DEPRECIATION
Charge for year 786
At 31 March 2024 786
NET BOOK VALUE
At 31 March 2024 5,301

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 210 -
Other debtors - 865
210 865

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 23,048 -
Amounts owed to group undertakings 18,349 12,499
Taxation and social security 3,948 -
Other creditors 4,039 -
49,384 12,499

7. RELATED PARTY DISCLOSURES

During the year the company received funding from its charitable parent, The Carloway Community Association, of £50,441 (2023 - £NIL). This funding related to wages costs, for which the charity had received restricted funding, but the staff were employed by its subsidiary company.

Included within creditors falling due within one year is a balance due to the company's parent, The Carloway Community Association, of £18,349 (2023 - £12,499). There are no repayment terms in place and interest is not charged on the balance.

CARLOWAY COMMUNITY ASSOCIATION TRADING
LTD (REGISTERED NUMBER: SC694039)

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

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is The Carloway Community Association.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Carloway Community Association Trading
Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Carloway Community Association Trading Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Carloway Community Association Trading Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Carloway Community Association Trading Ltd and state those matters that we have agreed to state to the Board of Directors of Carloway Community Association Trading Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Carloway Community Association Trading Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Carloway Community Association Trading Ltd. You consider that Carloway Community Association Trading Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Carloway Community Association Trading Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Mann Judd Gordon Ltd
Chartered Accountants
26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF


27 November 2024