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REGISTERED NUMBER: SC109530 (Scotland)















Financial Statements for the Year Ended 31 August 2024

for

C. & V. Carmichael Limited

C. & V. Carmichael Limited (Registered number: SC109530)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C. & V. Carmichael Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mrs V Carmichael
Miss E Carmichael





SECRETARY: Mrs V Carmichael





REGISTERED OFFICE: Fabrication Facility
Mossmorran
Cowdenbeath
Fife
KY4 8EP





REGISTERED NUMBER: SC109530 (Scotland)





ACCOUNTANTS: Neil Nisbet & Co.
c/o Neil Nisbet & Co.
Thain House
226 Queensferry Road
Edinburgh
EH4 2BP

C. & V. Carmichael Limited (Registered number: SC109530)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 152,870 155,824
152,870 155,824

CURRENT ASSETS
Stocks 6 30,000 30,000
Debtors 7 842,602 716,264
Cash at bank and in hand 946,149 916,775
1,818,751 1,663,039
CREDITORS
Amounts falling due within one year 8 492,373 475,034
NET CURRENT ASSETS 1,326,378 1,188,005
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,479,248

1,343,829

CREDITORS
Amounts falling due after more than one year 9 (41,667 ) (103,878 )

PROVISIONS FOR LIABILITIES 11 (25,200 ) (24,050 )
NET ASSETS 1,412,381 1,215,901

CAPITAL AND RESERVES
Called up share capital 12 40,502 40,502
Retained earnings 13 1,371,879 1,175,399
SHAREHOLDERS' FUNDS 1,412,381 1,215,901

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

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

C. & V. Carmichael Limited (Registered number: SC109530)

Balance Sheet - continued
31 August 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 31 March 2025 and were signed on its behalf by:





Miss E Carmichael - Director


C. & V. Carmichael Limited (Registered number: SC109530)

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

1. STATUTORY INFORMATION

C. & V. Carmichael 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 represents net income from operating activities, excluding value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 33% on cost, 25% on cost, 20% on cost and 10% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

C. & V. Carmichael Limited (Registered number: SC109530)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 500
AMORTISATION
At 1 September 2023
and 31 August 2024 500
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023 47,060 764,731 811,791
Additions - 35,287 35,287
At 31 August 2024 47,060 800,018 847,078
DEPRECIATION
At 1 September 2023 3,137 652,830 655,967
Charge for year 4,706 33,535 38,241
At 31 August 2024 7,843 686,365 694,208
NET BOOK VALUE
At 31 August 2024 39,217 113,653 152,870
At 31 August 2023 43,923 111,901 155,824

C. & V. Carmichael Limited (Registered number: SC109530)

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

6. STOCKS
31.8.24 31.8.23
£    £   
Raw materials & consumables 30,000 30,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 762,989 680,862
Other debtors 79,613 35,402
842,602 716,264

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 55,555 50,000
Trade creditors 203,930 266,878
Taxation and social security 88,893 87,034
Other creditors 143,995 71,122
492,373 475,034

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 41,667 103,878

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank loans 97,222 153,878

The company has granted a bond and floating charge over its assets in favour of the Clydesdale Bank plc in relation to the borrowings the company has with the bank.

11. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 25,200 24,050

C. & V. Carmichael Limited (Registered number: SC109530)

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

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2023 24,050
Accelerated capital allowances 1,150
Losses carried forward
Balance at 31 August 2024 25,200

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
40,502 Ordinary £1 40,502 40,502

13. RESERVES
Retained
earnings
£   

At 1 September 2023 1,175,399
Profit for the year 196,480
At 31 August 2024 1,371,879

14. RELATED PARTY DISCLOSURES

The company leases property from its directors. During the year the company paid £24,000 (2023 - £24,000) in respect of rent on this property.

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C & V Carmichael Holdings Limited.