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REGISTERED NUMBER: SC385579 (Scotland)















Financial Statements

for the Year Ended 30 September 2024

for

Isle of Skye Candle Company Ltd

Isle of Skye Candle Company Ltd (Registered number: SC385579)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Isle of Skye Candle Company Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: J M B Robertson
R U Robertson
Mrs J D Jaques





REGISTERED OFFICE: Skye Candle Visitors Centre
Viewfield Road
Portree
Isle of Skye
IV51 9EU





REGISTERED NUMBER: SC385579 (Scotland)





ACCOUNTANTS: KAL Accountants
Chartered Certified Accountants
3 Baird Gardens
Blantyre
Glasgow
G72 0WT

Isle of Skye Candle Company Ltd (Registered number: SC385579)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2,998,335 2,775,886

CURRENT ASSETS
Stocks 431,490 425,901
Debtors 5 356,699 196,672
Cash at bank and in hand 251,209 327,588
1,039,398 950,161
CREDITORS
Amounts falling due within one year 6 819,951 808,737
NET CURRENT ASSETS 219,447 141,424
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,217,782

2,917,310

CREDITORS
Amounts falling due after more than one
year

7

1,679,391

1,721,488
NET ASSETS 1,538,391 1,195,822

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,538,389 1,195,820
SHAREHOLDERS' FUNDS 1,538,391 1,195,822

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Isle of Skye Candle Company Ltd (Registered number: SC385579)

Balance Sheet - continued
30 September 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 6 June 2025 and were signed on its behalf by:





J M B Robertson - Director


Isle of Skye Candle Company Ltd (Registered number: SC385579)

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

1. STATUTORY INFORMATION

Isle of Skye Candle Company Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost and 10% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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.

Isle of Skye Candle Company Ltd (Registered number: SC385579)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 89 (2023 - 78 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 October 2023 2,349,300 123,035 270,730
Additions 187,220 - 78,388
At 30 September 2024 2,536,520 123,035 349,118
DEPRECIATION
At 1 October 2023 - 43,900 72,655
Charge for year - 3,957 57,695
At 30 September 2024 - 47,857 130,350
NET BOOK VALUE
At 30 September 2024 2,536,520 75,178 218,768
At 30 September 2023 2,349,300 79,135 198,075

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 180,574 36,535 28,536 2,988,710
Additions 20,070 33,822 7,330 326,830
At 30 September 2024 200,644 70,357 35,866 3,315,540
DEPRECIATION
At 1 October 2023 74,301 6,850 15,118 212,824
Charge for year 29,585 8,831 4,313 104,381
At 30 September 2024 103,886 15,681 19,431 317,205
NET BOOK VALUE
At 30 September 2024 96,758 54,676 16,435 2,998,335
At 30 September 2023 106,273 29,685 13,418 2,775,886

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 67,833 61,988
Other debtors 288,866 134,684
356,699 196,672

Isle of Skye Candle Company Ltd (Registered number: SC385579)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 299,392 266,499
Taxation and social security 351,275 266,383
Other creditors 169,284 275,855
819,951 808,737

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 1,352,146 1,422,439
Hire purchase contracts 57,510 29,196
Other creditors 269,735 269,853
1,679,391 1,721,488

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,263,072 1,330,247