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Registration number: SC466282

Carradale Harbour Enterprises Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Carradale Harbour Enterprises Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account and Statement of Retained Earnings

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 11

 

Carradale Harbour Enterprises Ltd

Company Information

Chairman

Alan Richard Milstead

Directors

Alan George Taylor Walker

Niall Donald Macalister Hall

Ian Peter Mcghie

Company secretary

Ian Peter Mcghie

Registered office

Portcrannaig Cottage
The Pier
Carradale East
By Campbeltown
Argyll
PA28 6SQ

Accountants

Dunlop & Co Chartered Accountants Knockbay House
Kilkerran Road
Campbeltown
Argyll
PA28 6JN

 

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:

Alan Richard Milstead - Chairman

Alan George Taylor Walker

Niall Donald Macalister Hall

Ian Peter Mcghie - Company secretary and director

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 Board on 16 May 2025 and signed on its behalf by:
 

.........................................
Alan Richard Milstead
Chairman

 

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.

......................................

Dunlop & Co Chartered Accountants
Knockbay House
Kilkerran Road
Campbeltown
Argyll
PA28 6JN

16 May 2025

 

Carradale Harbour Enterprises Ltd

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 December 2024

Note

2024
£

2023
£

Turnover

 

4,045

2,738

Cost of sales

 

(1,886)

(3,142)

Gross profit/(loss)

 

2,159

(404)

Administrative expenses

 

(1,709)

(1,852)

Operating profit/(loss)

 

450

(2,256)

Other interest receivable and similar income

 

21

-

 

21

-

Profit/(loss) before tax

4

471

(2,256)

Profit/(loss) for the financial year

 

471

(2,256)

Retained earnings brought forward

 

4,982

7,238

Retained earnings carried forward

 

5,453

4,982

 

Carradale Harbour Enterprises Ltd

(Registration number: SC466282)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

4

15,544

Current assets

 

Debtors

6

432

594

Cash at bank and in hand

 

9,276

8,646

 

9,708

9,240

Creditors: Amounts falling due within one year

7

(4,258)

(19,801)

Net current assets/(liabilities)

 

5,450

(10,561)

Net assets

 

5,454

4,983

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

5,453

4,982

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:

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 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 Board on 16 May 2025 and signed on its behalf by:
 

.........................................
Alan Richard Milstead
Chairman

 

Carradale Harbour Enterprises Ltd

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital
£

Retained earnings
£

Total
£

At 1 January 2024

1

4,982

4,983

Profit for the year

-

471

471

At 31 December 2024

1

5,453

5,454

 

Carradale Harbour Enterprises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
Portcrannaig Cottage
The Pier
Carradale East
By Campbeltown
Argyll
PA28 6SQ

These financial statements were authorised for issue by the Board on 16 May 2025.

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

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

The grants received over the two years to 31 December 2015 to complete the Harbour Slip Development totalled £155,403.
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:

Asset class

Depreciation method and rate

Harbour Slip

10% straight line method

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

15,540

15,540

Amortisation expense

(15,540)

(15,540)

 

Carradale Harbour Enterprises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Tangible assets

Harbour Slip
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

155,403

1,925

157,328

At 31 December 2024

155,403

1,925

157,328

Depreciation

At 1 January 2024

139,860

1,924

141,784

Charge for the year

15,540

-

15,540

At 31 December 2024

155,400

1,924

157,324

Carrying amount

At 31 December 2024

3

1

4

At 31 December 2023

15,543

1

15,544

6

Debtors

2024
£

2023
£

Prepayments

432

414

Other debtors

-

180

432

594

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to parent entity

3,360

3,360

Taxation and social security

 

59

63

Other creditors

 

839

16,378

 

4,258

19,801

 

Carradale Harbour Enterprises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

9

Parent and ultimate parent undertaking

Carradale Harbour Enterprises Ltd is a wholly owned subsidiary of a parent entity with charitable status. This parent entity was Network Carradale Ltd, a charitable company until 12 December 2016, when it changed both its name and status to Carradale Community Trust, a Scottish Charitable Incorporated Organisation (SCIO).

 The company's immediate parent is Carradale Community Trust, incorporated in Scotland.