4 06/11/2023 05/11/2024 2024-11-05 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-11-06 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP SC144220 2023-11-06 2024-11-05 SC144220 2024-11-05 SC144220 2023-11-05 SC144220 2022-11-06 2023-11-05 SC144220 2023-11-05 SC144220 2022-11-05 SC144220 core:FurnitureFittingsToolsEquipment 2023-11-06 2024-11-05 SC144220 bus:RegisteredOffice 2023-11-06 2024-11-05 SC144220 bus:LeadAgentIfApplicable 2023-11-06 2024-11-05 SC144220 bus:Director1 2023-11-06 2024-11-05 SC144220 bus:Director2 2023-11-06 2024-11-05 SC144220 bus:Director3 2023-11-06 2024-11-05 SC144220 bus:Director4 2023-11-06 2024-11-05 SC144220 bus:CompanySecretary1 2023-11-06 2024-11-05 SC144220 core:WithinOneYear 2024-11-05 SC144220 core:WithinOneYear 2023-11-05 SC144220 core:AfterOneYear 2023-11-05 SC144220 core:ShareCapital 2024-11-05 SC144220 core:ShareCapital 2023-11-05 SC144220 core:OtherReservesSubtotal 2024-11-05 SC144220 core:OtherReservesSubtotal 2023-11-05 SC144220 core:RetainedEarningsAccumulatedLosses 2024-11-05 SC144220 core:RetainedEarningsAccumulatedLosses 2023-11-05 SC144220 core:HedgingReserve 2023-11-05 SC144220 core:HedgingReserve 2024-11-05 SC144220 core:HedgingReserve 2023-11-05 SC144220 core:HedgingReserve 2022-11-06 2023-11-05 SC144220 bus:SmallEntities 2023-11-06 2024-11-05 SC144220 bus:AuditExemptWithAccountantsReport 2023-11-06 2024-11-05 SC144220 bus:SmallCompaniesRegimeForAccounts 2023-11-06 2024-11-05 SC144220 bus:PrivateLimitedCompanyLtd 2023-11-06 2024-11-05 SC144220 bus:AbridgedAccounts 2023-11-06 2024-11-05
Company registration number: SC144220
Claymert Limited
Unaudited filleted abridged financial statements
05 November 2024
Claymert Limited
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
Claymert Limited
Directors and other information
Directors George W Menzies (Resigned 22 February 2024)
Margaret K Menzies
Graham M Menzies
Alasdair G Menzies (Appointed 14 March 2024)
Secretary Charles Wood & Son, Solicitors
Company number SC144220
Registered office 8 Mitchell Street
Leven
Fife
KY8 4HJ
Accountants Paterson Boyd & Co
Chartered Certified Accountants
8 Mitchell Street
Leven
Fife
KY8 4HJ
Bankers Bank of Scotland
The Cross
Cupar
Fife
KY15 4BP
Solicitors Jardine Donaldson
18-22 Bank Street
Alloa
FK10 1HP
Claymert Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Claymert Limited
Year ended 5 November 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Claymert Limited for the year ended 5 November 2024 which comprise the abridged statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of Claymert Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Claymert Limited and state those matters that we have agreed to state to the board of directors of Claymert Limited as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Claymert Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Claymert Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Claymert Limited. You consider that Claymert Limited 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 financial statements of Claymert Limited. 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 financial statements.
Paterson Boyd & Co
Chartered Certified Accountants
8 Mitchell Street
Leven
Fife
KY8 4HJ
11 August 2025
Claymert Limited
Abridged statement of financial position
5 November 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 2,930,481 2,929,536
_______ _______
2,930,481 2,929,536
Current assets
Debtors 34,893 58,404
Cash at bank and in hand 46,677 51,035
_______ _______
81,570 109,439
Creditors: amounts falling due
within one year ( 902,417) ( 688,902)
_______ _______
Net current liabilities ( 820,847) ( 579,463)
_______ _______
Total assets less current liabilities 2,109,634 2,350,073
Creditors: amounts falling due
after more than one year - ( 308,699)
Provisions for liabilities ( 183,874) ( 183,728)
_______ _______
Net assets 1,925,760 1,857,646
_______ _______
Capital and reserves
Called up share capital 150,000 150,000
Other reserves 967,023 967,023
Profit and loss account 808,737 740,623
_______ _______
Shareholders funds 1,925,760 1,857,646
_______ _______
For the year ending 05 November 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 05 November 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 11 August 2025 , and are signed on behalf of the board by:
Graham M Menzies
Director
Company registration number: SC144220
Claymert Limited
Notes to the financial statements
Year ended 5 November 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 8 Mitchell Street, Leven, Fife, KY8 4HJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable in relation to property rental income.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subseqeunt accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Investment properties - nil
Fittings fixtures and equipment - 20.00 % reducing balance
Computer equipment - straight line over three years
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).
5. Tangible assets
£
Cost or valuation
At 6 November 2023 2,931,469
Additions 2,148
_______
At 5 November 2024 2,933,617
_______
Depreciation
At 6 November 2023 1,933
Charge for the year 1,203
_______
At 5 November 2024 3,136
_______
Carrying amount
At 5 November 2024 2,930,481
_______
At 5 November 2023 2,929,536
_______
Investment property
Included within the above is investment property measured at fair value as follows:
£
At 6 November 2023 2,927,298
Additions 360
_______
At 5 November 2024 2,927,658
_______
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors who are not professionally qualified valuers. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The historical cost of the investment property was £1,960,635 (2023 : £1,960,275).
6. Fair value reserve
Included within other reserves is the fair value reserve as follows:
2024 2023
£ £
At start of year 967,023 -
Reclassification from fair value reserve to profit and loss account - 967,023
_______ _______
At end of year 967,023 967,023
_______ _______