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REGISTERED NUMBER: SC449741 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Chalmers Transmissions Limited

Chalmers Transmissions Limited (Registered number: SC449741)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Chalmers Transmissions Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A G Chalmers
Mrs K Chalmers





REGISTERED OFFICE: Dunleri
Maud
Peterhead
Aberdeenshire
AB42 4NZ





REGISTERED NUMBER: SC449741 (Scotland)





ACCOUNTANTS: Add Accountancy Limited
6 Market Square
Oldmeldrum
Aberdeenshire
AB51 0AA

Chalmers Transmissions Limited (Registered number: SC449741)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,330 46,251

CURRENT ASSETS
Stocks 1,970 1,970
Debtors 5 23,203 13,723
Cash at bank 213,558 127,430
238,731 143,123
CREDITORS
Amounts falling due within one year 6 93,390 41,620
NET CURRENT ASSETS 145,341 101,503
TOTAL ASSETS LESS CURRENT
LIABILITIES

184,671

147,754

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 174,671 137,754
SHAREHOLDERS' FUNDS 184,671 147,754

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

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

Chalmers Transmissions Limited (Registered number: SC449741)

Balance Sheet - continued
31 May 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 18 February 2025 and were signed on its behalf by:





A G Chalmers - Director


Chalmers Transmissions Limited (Registered number: SC449741)

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

1. STATUTORY INFORMATION

Chalmers Transmissions Limited 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.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Chalmers Transmissions Limited (Registered number: SC449741)

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 28,327 41,640 39,409
Additions - 1,411 -
At 31 May 2024 28,327 43,051 39,409
DEPRECIATION
At 1 June 2023 12,028 29,349 26,513
Charge for year 3,260 2,740 2,579
At 31 May 2024 15,288 32,089 29,092
NET BOOK VALUE
At 31 May 2024 13,039 10,962 10,317
At 31 May 2023 16,299 12,291 12,896

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 11,850 1,971 123,197
Additions 1,500 - 2,911
At 31 May 2024 13,350 1,971 126,108
DEPRECIATION
At 1 June 2023 7,627 1,429 76,946
Charge for year 1,145 108 9,832
At 31 May 2024 8,772 1,537 86,778
NET BOOK VALUE
At 31 May 2024 4,578 434 39,330
At 31 May 2023 4,223 542 46,251

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 23,203 13,723

Chalmers Transmissions Limited (Registered number: SC449741)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 24,584 17,491
Tax 26,819 10,934
Social security and other taxes 567 213
VAT 6,188 5,783
Other creditors 2,281 2,360
Directors' current accounts 31,356 3,244
Accrued expenses 1,595 1,595
93,390 41,620