General Information
Callie Engineering Solutions Limited is a private company, limited by shares, registered in Scotland, registration number SC514068, registration address 3 Lambert Drive, Dunfermline, Fife, KY12 7UB.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of VAT and trade discounts. Turnover is recognised on the accruals basis.
Taxation
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 companys liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred taxation
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.
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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Computer Equipment |
25% Reducing Balance
|
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 2 (2023 : 2).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Computer Equipment |
|
Total |
| |
£ |
|
£ |
| At 01 September 2023 |
4,003 |
|
4,003 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 August 2024 |
4,003 |
|
4,003 |
| Depreciation |
| At 01 September 2023 |
2,746 |
|
2,746 |
| Charge for year |
314 |
|
314 |
| On disposals |
- |
|
- |
| At 31 August 2024 |
3,060 |
|
3,060 |
| Net book values |
| Closing balance as at 31 August 2024 |
943 |
|
943 |
| Opening balance as at 01 September 2023 |
1,257 |
|
1,257 |
|
| 4. |
Debtors: amounts falling due within one year
|
2024
£ |
|
2023
£ |
| Prepayments & Accrued Income |
1,365 |
|
- |
| Directors Current Accounts |
44 |
|
22,522 |
|
1,409 |
|
22,522 |
|
| 5. |
Creditors: amount falling due within one year
|
2024
£ |
|
2023
£ |
| Corporation Tax |
4,063 |
|
28,992 |
| Accrued Expenses |
1,490 |
|
2,199 |
| Directors' Current Accounts |
6,209 |
|
- |
| VAT |
1,653 |
|
5,584 |
|
13,415 |
|
36,775 |
|
| 6. |
Provisions for liabilities
|
2024
£ |
|
2023
£ |
| Deferred Tax |
156 |
|
252 |
|
156 |
|
252 |
|
|
Key Management Personnel
| Particulars |
|
2024
£ |
|
2023
£ |
| S Atkinson |
|
44 |
|
17,742 |
Interest at a rate of 2.25% has been charged on the loan. Advances of £510 and payments of £18,208 have been made during the year. The loan is unsecured and repayable on demand.
|
2
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