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CORRYAN TRADING LIMITED

Registered Number
SC459781
(Scotland)

Unaudited Financial Statements for the Year ended
31 May 2024

CORRYAN TRADING LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

MACLEOD, Cory John
MACLEOD, Derek

Company Secretary

MACLEOD, Coinneach

Registered Address

Welcome-In Filling Station
Lower Barvas
Isle Of Lewis
HS2 0RA

Registered Number

SC459781 (Scotland)
CORRYAN TRADING LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3457,408483,092
457,408483,092
Current assets
Stocks77,74965,402
Debtors447,60310,322
Cash at bank and on hand84,747140,100
210,099215,824
Creditors amounts falling due within one year5(201,138)(100,428)
Net current assets (liabilities)8,961115,396
Total assets less current liabilities466,369598,488
Creditors amounts falling due after one year6(220,738)(338,127)
Net assets245,631260,361
Capital and reserves
Called up share capital11
Profit and loss account245,630260,360
Shareholders' funds245,631260,361
The financial statements were approved and authorised for issue by the Board of Directors on 4 February 2025, and are signed on its behalf by:
MACLEOD, Derek
Director
Registered Company No. SC459781
CORRYAN TRADING LIMITED
Notes to the Financial Statements
for the year ended 31 May 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery25-
Vehicles25-
Office Equipment25-
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year76
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 June 23811,453
Additions44,899
At 31 May 24856,352
Depreciation and impairment
At 01 June 23328,361
Charge for year70,583
At 31 May 24398,944
Net book value
At 31 May 24457,408
At 31 May 23483,092
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables14,40010,322
Other debtors33,203-
Total47,60310,322
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables125,14846,515
Bank borrowings and overdrafts14,3786,923
Amounts owed to related parties52,37433,940
Taxation and social security7,14710,512
Other creditors2,0912,538
Total201,138100,428
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts20,73838,127
Amounts owed to related parties200,000300,000
Total220,738338,127