Company registration number SC464317 (Scotland)
BALDARROCH CREMATORIUM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BALDARROCH CREMATORIUM LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
BALDARROCH CREMATORIUM LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF BALDARROCH CREMATORIUM LIMITED
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Baldarroch Crematorium Limited for the year ended 31 December 2024 which comprise, the 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 the ICAS we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.
This report is made solely to the board of directors of Baldarroch Crematorium Limited, as a body, in accordance with the terms of our engagement letter dated 7 November 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Baldarroch Crematorium Limited and state those matters that we have agreed to state to the board of directors of Baldarroch Crematorium Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Baldarroch Crematorium Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Baldarroch Crematorium Limited 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 profit of Baldarroch Crematorium Limited. You consider that Baldarroch Crematorium Limited 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 Baldarroch Crematorium Limited. 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.
A.J.B. Scholes Ltd
21 January 2025
Chartered Accountants
10 Albyn Place
Aberdeen
AB10 1YH
BALDARROCH CREMATORIUM LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,049,935
2,124,545
Current assets
Stocks
10,817
13,373
Debtors
5
43,107
43,622
Cash at bank and in hand
108,775
20,654
162,699
77,649
Creditors: amounts falling due within one year
6
(318,691)
(301,711)
Net current liabilities
(155,992)
(224,062)
Total assets less current liabilities
1,893,943
1,900,483
Creditors: amounts falling due after more than one year
7
(526,433)
(688,031)
Provisions for liabilities
8
(99,401)
(101,789)
Net assets
1,268,109
1,110,663
Capital and reserves
Called up share capital
9
175,000
175,000
Profit and loss reserves
1,093,109
935,663
Total equity
1,268,109
1,110,663
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BALDARROCH CREMATORIUM LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 21 January 2025 and are signed on its behalf by:
Mr Graeme D Robertson
Mr Brian G Smith
Director
Director
Company registration number SC464317 (Scotland)
BALDARROCH CREMATORIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information
Baldarroch Crematorium Limited is a private company limited by shares incorporated in Scotland. The registered office is Baldarroch Chapel & Crematorium, Crathes, Banchory, Kincardineshire, AB31 5JL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements have been prepared on a going concern basis.true
Based on an assessment by the directors, they consider that the company maintains an appropriate level of liquidity sufficient to meet the demands of the business. In addition, the company's assets are assessed for recoverability on a regular basis and the directors consider that the company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.
The directors have a reasonable expectation that the company has resources to continue in operational existence for the foreseeable future and there are no material uncertainties that lead to significant doubt upon the company's ability to continue as a going concern. Therefore, the directors have continued to adopt the going concern basis of accounting in preparing these financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, stated net of discounts.
Revenue from services rendered is recognised when the services have been performed and the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold property
2% straight line
Plant and machinery
5% straight line
Fixtures and fittings
10% - 25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
BALDARROCH CREMATORIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.7
Financial instruments
The following assets and liabilities are classified as financial instruments, bank, trade debtors, trade creditors, bank loans and loans from related parties. Cash at bank in the balance sheet is held on demand. Trade debtors and creditors are measured at the undiscounted amounts receivable from the customer or payable to the supplier, which is normally the invoiced price. Trade debtors are assessed at the end of each reporting period for the objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the profit and loss account. Bank loans are measured at the discounted amounts due. Loans from related parties are measured at the undiscounted amounts payable.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
BALDARROCH CREMATORIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.10
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The assets of this scheme are held separately from those of the Company, being invested with an insurance company. The pension cost charge for the year represents the amounts payable in respect of the year covered by these financial statements.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
8
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
2,068,580
653,612
2,722,192
Additions
4,146
1,515
5,661
At 31 December 2024
2,072,726
655,127
2,727,853
Depreciation and impairment
At 1 January 2024
314,752
282,895
597,647
Depreciation charged in the year
41,372
38,899
80,271
At 31 December 2024
356,124
321,794
677,918
Carrying amount
At 31 December 2024
1,716,602
333,333
2,049,935
At 31 December 2023
1,753,828
370,717
2,124,545
BALDARROCH CREMATORIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
40,309
41,831
Other debtors
2,798
1,791
43,107
43,622
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
161,177
159,854
Trade creditors
49,443
50,381
Taxation and social security
76,297
64,284
Other creditors
31,774
27,192
318,691
301,711
Virgin Money holds a floating charge over the company assets and has a standard security over the lease of the land at Baldarroch, Crathes, Aberdeen.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
526,433
688,031
Virgin Money holds a floating charge over the company assets and has a standard security over the lease of the land at Baldarroch, Crathes, Aberdeen.
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
-
48,618
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
99,401
101,789
BALDARROCH CREMATORIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
175,000
175,000
175,000
175,000
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
58,900
8,802