REGISTERED NUMBER: SC762450 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CALEY CHANDLERY OBAN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J MacAlister

REGISTERED OFFICE:

6 South Pier

Gallanach Road

Oban

PA34 4LS

REGISTERED NUMBER:

SC762450 (Scotland)

ACCOUNTANTS:

Andy Newiss & Co Ltd

Broombank

North Connel

Oban

Argyll

PA37 1RD

FIXED ASSETS

Tangible assets

4

3,247

4,294

CURRENT ASSETS

Stocks

95,787

80,257

Debtors

5

20,576

14,256

Cash at bank and in hand

2,549

27

118,912

94,540

CREDITORS

Amounts falling due within one year

6

173,767

136,503

NET CURRENT LIABILITIES

(54,855

)

(41,963

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(51,608

)

(37,669

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(51,708

)

(37,769

)

SHAREHOLDERS' FUNDS

(51,608

)

(37,669

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

J MacAlister - Director

1.	STATUTORY INFORMATION

Caley Chandlery Oban 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.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving

these financial statements. The director notes that the business has net liabilities of £51,608. The Company is supported by its director who has agreed to continue the provision of financial support in order to ensure that the company can meet all of its financial obligations as they arise. Accordingly, these financial statements are prepared using the going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment.

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to 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 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 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets

At each balance sheet date, the company reviews its tangible and intangible .assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). the recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised immediately in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

680

5,000

5,680

DEPRECIATION

At 1 January 2024

136

1,250

1,386

Charge for year

109

938

1,047

At 31 December 2024

245

2,188

2,433

NET BOOK VALUE

At 31 December 2024

435

2,812

3,247

At 31 December 2023

544

3,750

4,294

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

16,185

10,909

Amounts owed by related parties

1,418

2,788

Other debtors

2,973

559

20,576

14,256

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

19,767

Trade creditors

33,136

13,305

Amounts owed to related parties

129,489

9,854

Taxation and social security

5,749

1,195

Other creditors

5,393

92,382

173,767

136,503

7.	FINANCIAL COMMITMENTS

Total future minimum lease payments under non-cancellable operating leases are as follows:-

- within one year £17,058 (£570 2023)

- between one and five years £12,510 (£Nil 2023)

8.	RELATED PARTY DISCLOSURES

Amounts owed to entities in which the entity itself or its director has a participating interest

Other related parties owe £1,418 (£2,788 2023)

Other related parties are owed £129,489 (£9,854 2023)

Amounts due from related parties are unsecured and result from normal business activities using market values.

Amounts due to related parties are unsecured, interest free and have no fixed terms of repayment.