Claddagh-Caledonia Ltd

	Page
Accountants' Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—7

Report to the director on the preparation of the unaudited statutory accounts of Claddagh-Caledonia Ltd for the year ended 31 May 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Claddagh-Caledonia Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the director of Claddagh-Caledonia 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 Claddagh-Caledonia Ltd and state those matters that we have agreed to state to the director of Claddagh-Caledonia Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Claddagh-Caledonia Ltd and its director as a body for our work or for this report.

It is your duty to ensure that Claddagh-Caledonia 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 or loss of Claddagh-Caledonia Ltd . You consider that Claddagh-Caledonia 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 Claddagh-Caledonia 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 financial statements.

10 September 2025

Nuvo Scotland Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeen

AB12 4XX

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Claddagh-Caledonia Ltd

Balance Sheet

As At 31 May 2025

Balance Sheet

Registered number: SC564916

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		6,850		5,082

			6,850		5,082
CURRENT ASSETS
Stocks	5	15,684		1,659
Debtors	6	6,768		14,425
Cash at bank and in hand		71,984		39,287

		94,436		55,371
Creditors: Amounts Falling Due Within One Year	7	(77,000 )		(68,150 )

NET CURRENT ASSETS (LIABILITIES)			17,436		(12,779 )

TOTAL ASSETS LESS CURRENT LIABILITIES			24,286		(7,697 )

Creditors: Amounts Falling Due After More Than One Year	8		-		(6,091 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,712 )		(1,031 )

NET ASSETS/(LIABILITIES)			22,574		(14,819 )

CAPITAL AND RESERVES
Called up share capital			1		1
Profit and Loss Account			22,573		(14,820 )

SHAREHOLDERS' FUNDS			22,574		(14,819)

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Claddagh-Caledonia Ltd

Balance Sheet (continued)

As At 31 May 2025

For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr D Barnett

Director

24 September 2025

The notes on pages 4 to 7 form part of these financial statements.

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Claddagh-Caledonia Ltd

Notes to the Financial Statements

For The Year Ended 31 May 2025

Notes to the Financial Statements

1. General Information

Claddagh-Caledonia Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC564916 . The registered office is Slainte Bar, 103 South Street, Perth, PH2 8PA.

The presentation currency of the financial statements is the Pound Sterling (£).

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Tangible Fixed Assets and Depreciation

At each balance sheet date, the company reviews the carrying amount 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, if any. 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.

Assets held under finance leases are depreciated in the same way as owned assets.

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Improvements to Properties	10% on reducing balance
Plant & Machinery	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	33% reducing balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Financial Instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price

including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans payable within one year are not amortised and is recognised at transaction price.

Debt instruments are initially recognised at transaction price plus transaction cost and subsequently carried at amortised cost using the effective interest rate method.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

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Claddagh-Caledonia Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 16 (2024: 16)

4. Tangible Assets

	Land & Property
	Improvements to Properties	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 June 2024	1,080	1,750	726	2,445	6,001
Additions	-	-	3,592	474	4,066

As at 31 May 2025	1,080	1,750	4,318	2,919	10,067

Depreciation
As at 1 June 2024	124	189	121	485	919
Provided during the period	96	390	1,035	777	2,298

As at 31 May 2025	220	579	1,156	1,262	3,217

Net Book Value
As at 31 May 2025	860	1,171	3,162	1,657	6,850

As at 1 June 2024	956	1,561	605	1,960	5,082

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Claddagh-Caledonia Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

5. Stocks

	2025	2024
	£	£
Stock	15,684	1,659

6. Debtors

	2025	2024
	£	£
Due within one year
Prepayments and accrued income	6,568	14,425
Net wages	200	-

	6,768	14,425

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	20,731	21,711
Bank loans and overdrafts	6,080	5,200
Corporation tax	7,295	(798 )
Other taxes and social security	829	1,491
VAT	23,810	24,330
Other creditors	395	731
Accruals and deferred income	1,699	2,066
Director's loan account	16,161	13,419

	77,000	68,150

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	-	6,091

9. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 June 2024	1,031	1,031
Deferred taxation	681	681

Balance at 31 May 2025	1,712	1,712

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Claddagh-Caledonia Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	35,472	37,322
Later than one year and not later than five years	68,265	103,000

	103,737	140,322

11. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 June 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 May 2025
	£	£	£	£	£
Mr David Barnett	(13,419 )	3,533	(6,275 )	-	(16,161 )

The above loan is interest free and has no fixed repayment terms.

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