Company Registration No. SC143189 (Scotland)
Culloden Limited
Unaudited accounts
for the year ended 31 March 2025
Culloden Limited
Unaudited accounts
Contents
Culloden Limited
Company Information
for the year ended 31 March 2025
Company Number
SC143189 (Scotland)
Registered Office
Culloden Service Station
Barn Church Road
Inverness
IV2 7WB
Accountants
CMM Accountancy (Inverness) Limited
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
Culloden Limited
Statement of financial position
as at 31 March 2025
Tangible assets
792,662
758,647
Investment property
2,365,176
2,365,176
Investments
107,181
107,181
Cash at bank and in hand
372,868
352,001
Creditors: amounts falling due within one year
(617,588)
(598,514)
Net current assets
395,311
269,506
Total assets less current liabilities
3,660,330
3,500,510
Creditors: amounts falling due after more than one year
(5,539)
(242,153)
Provisions for liabilities
Deferred tax
(142,410)
(175,120)
Net assets
3,512,381
3,083,237
Culloden Limited
Statement of financial position
as at 31 March 2025 (continued)
Called up share capital
765,584
765,584
Share premium
109,805
109,805
Revaluation reserve
497,867
497,867
Profit and loss account
2,139,125
1,709,981
Shareholders' funds
3,512,381
3,083,237
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 December 2025 and were signed on its behalf by
R W Munro
Director
Company Registration No. SC143189
Culloden Limited
Notes to the Accounts
for the year ended 31 March 2025
Culloden Limited is a private company, limited by shares, registered in Scotland, registration number SC143189. The registered office is Culloden Service Station, Barn Church Road, Inverness, IV2 7WB.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
3-10 years straight line
Motor vehicles
3-10 years straight line
Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at its open market value.
Investments in subsidiaries are recognised initially at cost and are assessed for impairment at each reporting date. Any impairment losses are recognised in the profit and loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Culloden Limited
Notes to the Accounts
for the year ended 31 March 2025
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
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Tangible fixed assets
Total
At 31 March 2025
1,642,423
Charge for the year
302,658
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
80,092
294,130
Included in debtors is a loan of £148,715 (2024 - £142,772) to the director R W Munro. The loan is unsecured, has no fixed terms of repayment, and bears interest at the statutory rate for beneficial loans.
Culloden Limited
Notes to the Accounts
for the year ended 31 March 2025
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Average number of employees
During the year the average number of employees was 54 (2024: 52).