John Callum Ltd. - Accounts to registrar (filleted)

REGISTERED NUMBER: SC196483 (Scotland)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

John Callum Ltd.

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

653,459

678,034

Investments

6

1

Investment property

7

70,000

723,460

748,035

CURRENT ASSETS

Stocks

25,584

42,643

Debtors

8

740,560

756,277

Investments

9

325,961

830,218

Cash at bank

1,019,839

235,514

2,111,944

1,864,652

CREDITORS

Amounts falling due within one year

10

(181,592

)

(153,196

)

NET CURRENT ASSETS

1,930,352

1,711,456

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,653,812

2,459,491

PROVISIONS FOR LIABILITIES

(117,689

)

(131,188

)

NET ASSETS

2,536,123

2,328,303

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

2,536,121

2,328,301

2,536,123

2,328,303

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 17 November 2025 and were signed by:

Mr P S Miller - Director

1.	STATUTORY INFORMATION

John Callum Limited is a private company, limited by shares, domiciled in Scotland, registration number SC196483. The registered office is Unit 51, Bandeath Industrial Est, Throsk, Stirling, FK9 7ND.

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.

Preparation of consolidated financial statements

The financial statements contain information about John Callum Ltd. as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of goods and services in respect of a potato merchant, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets and depreciation

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

Plant and machinery

-

15% on cost

Fixtures and fittings

-

20% on cost

Commercial vehicles

-

15% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Investment property

Investment property is included at fair value. Any surplus or deficit is recognised within the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the director this accounting policy is considered necessary to provide a true and fair view.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2024

and 28 February 2025

16,630

AMORTISATION

At 1 March 2024

and 28 February 2025

16,630

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Commercial

property

machinery

fittings

vehicles

Totals

£

COST

At 1 March 2024

155,772

58,243

7,054

691,988

913,057

Additions

-

118,995

-

198,775

317,770

Disposals

-

(353,879

)

(353,879

)

At 28 February 2025

155,772

177,238

7,054

536,884

876,948

DEPRECIATION

At 1 March 2024

2,491

45,206

4,872

182,454

235,023

Charge for year

-

25,304

1,217

127,252

153,773

Eliminated on disposal

-

(165,307

)

(165,307

)

At 28 February 2025

2,491

70,510

6,089

144,399

223,489

NET BOOK VALUE

At 28 February 2025

153,281

106,728

965

392,485

653,459

At 29 February 2024

153,281

13,037

2,182

509,534

678,034

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 March 2024

and 28 February 2025

1

NET BOOK VALUE

At 28 February 2025

1

At 29 February 2024

1

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2024

and 28 February 2025

70,000

NET BOOK VALUE

At 28 February 2025

70,000

At 29 February 2024

70,000

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Trade debtors

96,768

114,771

Amounts owed by related parties

208,105

Other debtors

435,687

433,401

740,560

756,277

9.	CURRENT ASSET INVESTMENTS

28.2.25

29.2.24

£

Listed investments

325,961

830,218

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Trade creditors

86,836

113,670

Taxation and social security

59,885

10,660

Other creditors

34,871

28,866

181,592

153,196

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2025 and 29 February 2024:

28.2.25

29.2.24

£

Mr P S Miller

Balance outstanding at start of year

257,775

232,676

Amounts advanced

-

117,819

Amounts repaid

(12,370

)

(92,720

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

245,405

257,775

12.	RELATED PARTY DISCLOSURES

Transactions and balances with entities with common control are as follows:

Management charges paid - £5,000 (2024: £5,000)