Registration number:
Carradale Harbour Enterprises Ltd
for the Year Ended 31 December 2024
Carradale Harbour Enterprises Ltd
Contents
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Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account and Statement of Retained Earnings |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Carradale Harbour Enterprises Ltd
Company Information
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Chairman |
Alan Richard Milstead |
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Directors |
Alan George Taylor Walker Niall Donald Macalister Hall Ian Peter Mcghie |
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Company secretary |
Ian Peter Mcghie |
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Registered office |
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Accountants |
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Carradale Harbour Enterprises Ltd
Directors' Report for the Year Ended 31 December 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is to develop the area around Carradale Harbour for the benefit of the community.
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
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Carradale Harbour Enterprises Ltd
for the Year Ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Carradale Harbour Enterprises Ltd for the year ended 31 December 2024 as set out on pages 4 to 11 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/technical-resources/framework-for-the-preparation-of-accounts-revised-january-2017.
This report is made solely to the Board of Directors of Carradale Harbour Enterprises Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Carradale Harbour Enterprises Ltd and state those matters that we have agreed to state to the Board of Directors of Carradale Harbour Enterprises Ltd, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at www.icas.com/technical-resources/framework-for-the-preparation-of-accounts-revised-january-2017. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Carradale Harbour Enterprises Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Carradale Harbour Enterprises Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Carradale Harbour Enterprises Ltd. You consider that Carradale Harbour Enterprises Ltd 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 Carradale Harbour Enterprises Ltd. 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.
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Kilkerran Road
Campbeltown
Argyll
PA28 6JN
Carradale Harbour Enterprises Ltd
Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit/(loss) |
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( |
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Administrative expenses |
( |
( |
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Operating profit/(loss) |
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( |
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Other interest receivable and similar income |
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- |
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21 |
- |
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Profit/(loss) before tax |
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( |
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Profit/(loss) for the financial year |
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( |
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Retained earnings brought forward |
4,982 |
7,238 |
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Retained earnings carried forward |
5,453 |
4,982 |
Carradale Harbour Enterprises Ltd
(Registration number: SC466282)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
5,453 |
4,982 |
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Shareholders' funds |
5,454 |
4,983 |
For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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Carradale Harbour Enterprises Ltd
Statement of Changes in Equity for the Year Ended 31 December 2024
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Share capital |
Retained earnings |
Total |
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At 1 January 2024 |
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Profit for the year |
- |
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At 31 December 2024 |
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Carradale Harbour Enterprises Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
These financial statements were authorised for issue by the
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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
The financial statements have been prepared under the historical cost convention and in accordance 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
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.
Judgements
The principal judgements and key sources of estimation uncertainty in the preparation of the financial statements are set out below. |
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.
Carradale Harbour Enterprises Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Other grants
These have been included in the balance sheet as deferred income and are being amortised at the same depreciation rate as the Harbour Slip - 10% straight line method.
A grant was received in order to purchase the new shed purchased in the year to 31 December 2017 for £1,925 which has also been included in the balance sheet as deferred income and is being amortised at the same depreciation rate as the shed - 25% straight line method.
Tax
The current income tax refund 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.
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:
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Asset class |
Depreciation method and rate |
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Harbour Slip |
10% straight line method |
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Shed |
25% straight line method |
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.
Carradale Harbour Enterprises Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 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.
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.
Dividends
Distributions by Gift Aid donation to the company’s parent entity are recognised as a liability in the financial statements in the reporting period in which the distributions are declared.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Profit/loss before tax |
Arrived at after charging/(crediting)
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2024 |
2023 |
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Depreciation expense |
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Amortisation expense |
( |
( |
Carradale Harbour Enterprises Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Tangible assets |
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Harbour Slip |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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- |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Debtors |
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2024 |
2023 |
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Prepayments |
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Other debtors |
- |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Amounts owed to parent entity |
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Taxation and social security |
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Other creditors |
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Carradale Harbour Enterprises Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
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Parent and ultimate parent undertaking |
The company's immediate parent is