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REGISTERED NUMBER: SC084696 (Scotland)











Unaudited Financial Statements for the Year Ended 30th September 2024

for

Calmac Developments Limited

Calmac Developments Limited (Registered number: SC084696)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


Calmac Developments Limited

Company Information
for the Year Ended 30th September 2024







DIRECTORS: G D McCall Jnr
Mrs J D McCall
Mrs E J McCall



SECRETARY: G D McCall Jnr



REGISTERED OFFICE: c/o Farries, Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ



REGISTERED NUMBER: SC084696 (Scotland)



ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ



SOLICITORS: Brazenall & Orr
104 Irish Street
Dumfries
DG1 2PB

Calmac Developments Limited (Registered number: SC084696)

Balance Sheet
30th September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,897,996 2,948,155
Investments 5 3,125 3,125
Investment property 6 1,955,000 1,955,000
4,856,121 4,906,280

CURRENT ASSETS
Stocks 98,222 106,243
Debtors 7 8,274 8,274
Cash at bank and in hand 429,581 358,611
536,077 473,128
CREDITORS
Amounts falling due within one year 8 1,195,580 1,288,139
NET CURRENT LIABILITIES (659,503 ) (815,011 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,196,618

4,091,269

CREDITORS
Amounts falling due after more than one year 9 (533,636 ) (677,576 )

PROVISIONS FOR LIABILITIES (15,293 ) (17,730 )
NET ASSETS 3,647,689 3,395,963

CAPITAL AND RESERVES
Called up share capital 20,312 20,312
Revaluation reserve 11 563,248 563,248
Capital redemption reserve (740,812 ) (740,812 )
Retained earnings 3,804,941 3,553,215
SHAREHOLDERS' FUNDS 3,647,689 3,395,963

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

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

Calmac Developments Limited (Registered number: SC084696)

Balance Sheet - continued
30th 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 27th June 2025 and were signed on its behalf by:





G D McCall Jnr - Director


Calmac Developments Limited (Registered number: SC084696)

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

1. STATUTORY INFORMATION

Calmac Developments 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the total invoice value, excluding value added tax, of goods and services supplies to customers during the year and arose wholly from its principal activity in the United Kingdom. In accordance with the principles of revenue recognition, income is recognised as the right to consideration obtained through performance of contractual obligations, and is included in the financial statements when the company is legally entitled to the income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 1% on cost
Plant and machinery - at varying rates on cost
Fixtures and fittings - 20% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 Statement of Income and Retained Earnings, 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
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and lose account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Calmac Developments Limited (Registered number: SC084696)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
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 the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

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.

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 transactions 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.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 36 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1st October 2023 3,523,088 8,417 67,518
Additions - - -
At 30th September 2024 3,523,088 8,417 67,518
DEPRECIATION
At 1st October 2023 680,840 3,367 67,518
Charge for year 35,130 842 -
At 30th September 2024 715,970 4,209 67,518
NET BOOK VALUE
At 30th September 2024 2,807,118 4,208 -
At 30th September 2023 2,842,248 5,050 -

Calmac Developments Limited (Registered number: SC084696)

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

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st October 2023 698,244 71,697 4,368,964
Additions 1,571 - 1,571
At 30th September 2024 699,815 71,697 4,370,535
DEPRECIATION
At 1st October 2023 603,617 65,467 1,420,809
Charge for year 14,203 1,555 51,730
At 30th September 2024 617,820 67,022 1,472,539
NET BOOK VALUE
At 30th September 2024 81,995 4,675 2,897,996
At 30th September 2023 94,627 6,230 2,948,155

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and
machinery
£   
COST
At 1st October 2023
and 30th September 2024 67,518
DEPRECIATION
At 1st October 2023
and 30th September 2024 67,518
NET BOOK VALUE
At 30th September 2024 -
At 30th September 2023 -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st October 2023
and 30th September 2024 3,125
NET BOOK VALUE
At 30th September 2024 3,125
At 30th September 2023 3,125

Calmac Developments Limited (Registered number: SC084696)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2023
and 30th September 2024 1,955,000
NET BOOK VALUE
At 30th September 2024 1,955,000
At 30th September 2023 1,955,000

Fair value at 30th September 2024 is represented by:
£   
Valuation in 2013 1,955,000

If investment property had not been revalued 2013 would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,391,752 1,391,752

Investment property was valued on open market basis on 31st January 2013 by Shepherd, Chartered Surveyors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 8,274 8,274

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 125,000 147,554
G D McCall Junior 85,069 85,069
C McCall loan 19,939 19,939
Trade creditors 121,020 92,789
Tax 28,155 80,563
Social security and other taxes 3,854 3,390
VAT 58,272 71,304
Directors' current accounts 555,079 588,339
Deferred income 2,126 2,126
Accrued expenses 197,066 197,066
1,195,580 1,288,139

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 128,000 128,000
Bank loans - 2-5 years 405,000 405,000
Bank loans more 5 yr by instal 636 144,576
533,636 677,576

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 636 144,576

Calmac Developments Limited (Registered number: SC084696)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 22,554
Bank loans 658,636 802,576
658,636 825,130

The bank overdraft and bank loan are secured by means of a bond and floating charge over the whole assets of the company. The hire purchase creditors are secured against the assets involved.

11. RESERVES
Revaluation
reserve
£   
At 1st October 2023
and 30th September 2024 563,248

12. ULTIMATE CONTROLLING PARTY

The company is under the control of Mr & Mrs G D McCall, who own 100% of the issued share capital between them.