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Registration number: SC710314

Caledonia Removals (Scotland) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Caledonia Removals (Scotland) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Caledonia Removals (Scotland) Limited

Company Information

Directors

Mr T D E Lindsay

Mr K Mowat

Registered office

15-17 Inchcape Place
Arran Road
Perth
PH1 3DU

Accountants

Ross McConnell
Chartered Accountant3 High Street
Kinross
KY13 8AW

 

Caledonia Removals (Scotland) Limited

(Registration number: SC710314)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

102,748

108,455

Current assets

 

Stocks

5

14,590

-

Debtors

6

10,948

15,189

Cash at bank and in hand

 

114,114

145,696

 

139,652

160,885

Creditors: Amounts falling due within one year

7

(81,707)

(79,371)

Net current assets

 

57,945

81,514

Total assets less current liabilities

 

160,693

189,969

Creditors: Amounts falling due after more than one year

7

(92,995)

(84,846)

Net assets

 

67,698

105,123

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

67,696

105,121

Shareholders' funds

 

67,698

105,123

For the financial year ending 30 September 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 December 2024 and signed on its behalf by:
 

 

Caledonia Removals (Scotland) Limited

(Registration number: SC710314)
Balance Sheet as at 30 September 2024

.........................................
Mr T D E Lindsay
Director

 

Caledonia Removals (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
15-17 Inchcape Place
Arran Road
Perth
PH1 3DU

These financial statements were authorised for issue by the Board on 11 December 2024.

2

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Caledonia Removals (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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

Fixtures & fittings

15% straight line

Motor vehicles

25% straight line

Office equipment

33% straight line

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.

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.

 

Caledonia Removals (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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 are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Caledonia Removals (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 12).

 

Caledonia Removals (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible Assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

32,986

140,648

173,634

Additions

-

55,000

55,000

Disposals

-

(16,688)

(16,688)

At 30 September 2024

32,986

178,960

211,946

Depreciation

At 1 October 2023

10,304

54,875

65,179

Charge for the year

5,123

44,740

49,863

Eliminated on disposal

-

(5,844)

(5,844)

At 30 September 2024

15,427

93,771

109,198

Carrying amount

At 30 September 2024

17,559

85,189

102,748

At 30 September 2023

22,682

85,773

108,455

5

Stocks

2024
£

2023
£

Other inventories

14,590

-

6

Debtors

Current

2024
£

2023
£

Trade debtors

8,826

7,097

Other debtors

2,122

8,092

 

10,948

15,189

7

Creditors

Creditors: amounts falling due within one year

 

Caledonia Removals (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

26,345

21,943

Trade creditors

 

16,121

12,397

Taxation and social security

 

34,329

42,868

Other creditors

 

4,912

2,163

 

81,707

79,371

 

Caledonia Removals (Scotland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

92,995

84,846

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2