| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30th November 2024 |
| for |
| CLYDE COAST CONTRACTS LIMITED |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30th November 2024 |
| for |
| CLYDE COAST CONTRACTS LIMITED |
| CLYDE COAST CONTRACTS LIMITED (REGISTERED NUMBER: SC068689) |
| Contents of the Financial Statements |
| for the Year Ended 30th November 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| CLYDE COAST CONTRACTS LIMITED |
| Company Information |
| for the Year Ended 30th November 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 10 Abercorn Drive |
| Hamilton |
| ML3 7EX |
| BANKERS: |
| 30 Sandgate |
| Ayr |
| KA7 1BY |
| CLYDE COAST CONTRACTS LIMITED (REGISTERED NUMBER: SC068689) |
| Balance Sheet |
| 30th November 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Investments | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Fair value reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| CLYDE COAST CONTRACTS LIMITED (REGISTERED NUMBER: SC068689) |
| Balance Sheet - continued |
| 30th November 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| CLYDE COAST CONTRACTS LIMITED (REGISTERED NUMBER: SC068689) |
| Notes to the Financial Statements |
| for the Year Ended 30th November 2024 |
| 1. | STATUTORY INFORMATION |
| Clyde Coast Contracts Limited is a |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover & revenue recognition |
| Turnover represents amounts invoiced to outside customers, except in respect of contracting activities where turnover represents the value of work carried out during the year including amounts not invoiced. Turnover excludes value added tax. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss. |
| At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
| Expenditure of £250 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred. |
| 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 expected selling price less costs to complete, after making due allowance for obsolete and slow moving items. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| CLYDE COAST CONTRACTS LIMITED (REGISTERED NUMBER: SC068689) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th November 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| Contract work in progress |
| Profit on contracting activities is recognised in work in progress where the outcome of the relevant contract can be assessed with reasonable certainty. Full provision is made for all known or expected losses at completion of each contract immediately such losses are foreseen. The amount attributable to contracts in the balance sheet (disclosed under debtors as amounts recoverable on contracts) is the value of measured work less certified payments on account. |
| 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 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. |
| Investments |
| Current asset investments are stated at their fair value. Any changes in fair value are recognised in the income statement. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| CLYDE COAST CONTRACTS LIMITED (REGISTERED NUMBER: SC068689) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th November 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st December 2023 |
| Additions |
| Disposals | ( |
) |
| At 30th November 2024 |
| DEPRECIATION |
| At 1st December 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 30th November 2024 |
| NET BOOK VALUE |
| At 30th November 2024 |
| At 30th November 2023 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st December 2023 |
| Additions |
| Transfer to ownership | (227,656 | ) |
| At 30th November 2024 |
| DEPRECIATION |
| At 1st December 2023 |
| Charge for year |
| Transfer to ownership | (77,198 | ) |
| At 30th November 2024 |
| NET BOOK VALUE |
| At 30th November 2024 |
| At 30th November 2023 |
| CLYDE COAST CONTRACTS LIMITED (REGISTERED NUMBER: SC068689) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th November 2024 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st December 2023 |
| and 30th November 2024 |
| NET BOOK VALUE |
| At 30th November 2024 |
| At 30th November 2023 |
| In the opinion of the directors, the property is worth the value shown in the financial statements. |
| Fair value at 30th November 2024 is represented by: |
| £ |
| Valuation in 2023 | 1,025,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 816,431 | 816,431 |
| Certain investment properties were valued on an open market basis on 31st May 2023 by the directors . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contract |
| Other debtors |
| 8. | CURRENT ASSET INVESTMENTS |
| 2024 | 2023 |
| £ | £ |
| Listed investments | 439,481 | 396,326 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| CLYDE COAST CONTRACTS LIMITED (REGISTERED NUMBER: SC068689) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th November 2024 |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts | 379,653 | 329,766 |
| Hire purchase contracts and finance leases are secured over the assets concerned. |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30th November 2024 and 30th November 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |