Argyll Contracting Limited SC362855 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is construction and contracting Digita Accounts Production Advanced 6.30.9574.0 true SC362855 2023-08-01 2024-07-31 SC362855 2024-07-31 SC362855 bus:OrdinaryShareClass1 2024-07-31 SC362855 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC362855 core:ShareCapital 2024-07-31 SC362855 core:CurrentFinancialInstruments 2024-07-31 SC362855 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 SC362855 core:Non-currentFinancialInstruments 2024-07-31 SC362855 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 SC362855 core:OtherPropertyPlantEquipment 2024-07-31 SC362855 bus:SmallEntities 2023-08-01 2024-07-31 SC362855 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 SC362855 bus:FullAccounts 2023-08-01 2024-07-31 SC362855 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 SC362855 bus:RegisteredOffice 2023-08-01 2024-07-31 SC362855 bus:CompanySecretary1 2023-08-01 2024-07-31 SC362855 bus:Director3 2023-08-01 2024-07-31 SC362855 bus:Director4 2023-08-01 2024-07-31 SC362855 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 SC362855 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC362855 bus:Agent1 2023-08-01 2024-07-31 SC362855 core:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 SC362855 core:ShareCapital 2023-08-01 2024-07-31 SC362855 core:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 SC362855 core:PlantMachinery 2023-08-01 2024-07-31 SC362855 countries:AllCountries 2023-08-01 2024-07-31 SC362855 2023-07-31 SC362855 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC362855 core:ShareCapital 2023-07-31 SC362855 core:OtherPropertyPlantEquipment 2023-07-31 SC362855 2022-08-01 2023-07-31 SC362855 2023-07-31 SC362855 bus:OrdinaryShareClass1 2023-07-31 SC362855 core:CurrentFinancialInstruments 2023-07-31 SC362855 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 SC362855 core:Non-currentFinancialInstruments 2023-07-31 SC362855 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 SC362855 core:OtherPropertyPlantEquipment 2023-07-31 SC362855 core:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 SC362855 core:ShareCapital 2022-08-01 2023-07-31 SC362855 2022-07-31 SC362855 core:RetainedEarningsAccumulatedLosses 2022-07-31 SC362855 core:ShareCapital 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC362855

Argyll Contracting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Argyll Contracting Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Financial Statements

9 to 13

 

Argyll Contracting Limited

Company Information

Directors

Mr Allan MacLean

Mr Calum Maclachlainn

Company secretary

Mr Derwyn Hewitt

Registered office

8A Baliscate
Tobermory
Isle Of Mull
Argyll
PA75 6QA

Accountants

Jack MacDonald & Co
Chartered Accountant
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

 

Argyll Contracting Limited

Directors' Report for the Year Ended 31 July 2024

The directors present their report and the financial statements for the year ended 31 July 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Allan MacLean

Mr Calum Maclachlainn

Principal activity

The principal activity of the company is construction and contracting

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 9 March 2025 and signed on its behalf by:
 

.........................................
Mr Calum Maclachlainn
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Argyll Contracting Limited
for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Argyll Contracting Limited for the year ended 31 July 2024 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Argyll Contracting Limited, as a body, in accordance with the terms of our engagement letter dated 1 January 2000. Our work has been undertaken solely to prepare for your approval the accounts of Argyll Contracting Limited and state those matters that we have agreed to state to the Board of Directors of Argyll Contracting Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Argyll Contracting Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Argyll Contracting Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Argyll Contracting Limited. You consider that Argyll Contracting 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 accounts of Argyll Contracting 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 accounts.

......................................

Jack MacDonald & Co
Chartered Accountant
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

9 March 2025

 

Argyll Contracting Limited

Profit and Loss Account for the Year Ended 31 July 2024

Note

2024
£

2023
£

Turnover

 

261,024

622,068

Cost of sales

 

(261,073)

(590,367)

Gross (loss)/profit

 

(49)

31,701

Administrative expenses

 

(3,195)

(7,263)

Operating (loss)/profit

 

(3,244)

24,438

Other interest receivable and similar income

 

227

77

Interest payable and similar expenses

 

(1,382)

(1,133)

   

(1,155)

(1,056)

(Loss)/profit before tax

3

(4,399)

23,382

(Loss)/profit for the financial year

 

(4,399)

23,382

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Argyll Contracting Limited

Statement of Comprehensive Income for the Year Ended 31 July 2024

2024
£

2023
£

(Loss)/profit for the year

(4,399)

23,382

Total comprehensive income for the year

(4,399)

23,382

 

Argyll Contracting Limited

(Registration number: SC362855)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,405

1,756

Current assets

 

Stocks

5

60,000

80,000

Debtors

6

68,740

112,332

Cash at bank and in hand

 

3,737

8,949

 

132,477

201,281

Creditors: Amounts falling due within one year

7

(119,902)

(175,320)

Net current assets

 

12,575

25,961

Total assets less current liabilities

 

13,980

27,717

Creditors: Amounts falling due after more than one year

7

(22,549)

(31,887)

Net liabilities

 

(8,569)

(4,170)

Capital and reserves

 

Called up share capital

8

4

4

Retained earnings

(8,573)

(4,174)

Shareholders' deficit

 

(8,569)

(4,170)

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 9 March 2025 and signed on its behalf by:
 

 

Argyll Contracting Limited

(Registration number: SC362855)
Balance Sheet as at 31 July 2024

.........................................
Mr Calum Maclachlainn
Director

 

Argyll Contracting Limited

Statement of Changes in Equity for the Year Ended 31 July 2024

Share capital
£

Retained earnings
£

Total
£

At 1 August 2023

4

(4,174)

(4,170)

Loss for the year

-

(4,399)

(4,399)

At 31 July 2024

4

(8,573)

(8,569)

Share capital
£

Retained earnings
£

Total
£

At 1 August 2022

4

(27,556)

(27,552)

Profit for the year

-

23,382

23,382

At 31 July 2023

4

(4,174)

(4,170)

 

Argyll Contracting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Argyll Contracting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Argyll Contracting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

3

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

255

586

 

Argyll Contracting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

21,593

21,593

At 31 July 2024

21,593

21,593

Depreciation

At 1 August 2023

19,837

19,837

Charge for the year

351

351

At 31 July 2024

20,188

20,188

Carrying amount

At 31 July 2024

1,405

1,405

At 31 July 2023

1,756

1,756

5

Stocks

2024
£

2023
£

Work in progress

60,000

80,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

46,537

75,429

Other debtors

22,203

36,903

 

68,740

112,332

7

Creditors

Creditors: amounts falling due within one year

 

Argyll Contracting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

2024
£

2023
£

Due within one year

Trade creditors

30,231

84,727

Taxation and social security

1,765

-

Accruals and deferred income

21,906

21,906

Other creditors

66,000

68,687

119,902

175,320

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

22,549

31,887

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

4

4

4

4

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

22,549

31,887