REGISTERED NUMBER: SC048389 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Calzeat And Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A R M Galbraith

B W Lang

J K J Galbraith

R G W Galbraith

G Galbraith

SECRETARY:

B W Lang

REGISTERED OFFICE:

Old Station Yard

Symington

Biggar

ML12 6LQ

REGISTERED NUMBER:

SC048389 (Scotland)

ACCOUNTANTS:

MRA Business Services Limited

Chartered Accountants

2 & 6 Wellgatehead

Lanark

Lanarkshire

ML11 9AA

FIXED ASSETS

Tangible assets

4

1,302,729

1,368,763

Investments

5

25,485

25,485

1,328,214

1,394,248

CURRENT ASSETS

Stocks

651,523

610,367

Debtors

6

463,142

470,552

Cash at bank

565,521

513,159

1,680,186

1,594,078

CREDITORS

Amounts falling due within one year

7

1,036,477

1,118,606

NET CURRENT ASSETS

643,709

475,472

TOTAL ASSETS LESS CURRENT LIABILITIES

1,971,923

1,869,720

CREDITORS

Amounts falling due after more than one year

8

16,043

11,667

NET ASSETS

1,955,880

1,858,053

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Revaluation reserve

411,371

411,371

Retained earnings

1,444,509

1,346,682

SHAREHOLDERS' FUNDS

1,955,880

1,858,053

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 4 December 2025 and were signed on its behalf by:

B W Lang - Director

1.	STATUTORY INFORMATION

Calzeat And Company 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.

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

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.

Significant judgements and estimates

In preparing these financial statements, management have not been required to make significant judgements or estimates outwith the stated accounting policies.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

not provided

Plant and machinery etc

-

25% on cost and at varying rates on cost

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.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Deferred taxation

Deferred taxation is not recognised.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution scheme and work place pensions. Contributions payable to the company's pension schemes are charged to the profit and loss account in the period to which they relate.

Fixed asset investments

Fixed asset investments are stated at cost less any provision for diminution in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

1,325,000

151,349

52,106

1,528,455

Additions

-

-

25,012

25,012

Disposals

(75,000

)

-

(19,794

)

(94,794

)

At 31 March 2025

1,250,000

151,349

57,324

1,458,673

DEPRECIATION

At 1 April 2024

-

135,188

24,504

159,692

Charge for year

-

6,045

8,078

14,123

Eliminated on disposal

-

-

(17,871

)

(17,871

)

At 31 March 2025

-

141,233

14,711

155,944

NET BOOK VALUE

At 31 March 2025

1,250,000

10,116

42,613

1,302,729

At 31 March 2024

1,325,000

16,161

27,602

1,368,763

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

19,794

Additions

25,012

Disposals

(19,794

)

At 31 March 2025

25,012

DEPRECIATION

At 1 April 2024

17,871

Eliminated on disposal

(17,871

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

25,012

At 31 March 2024

1,923

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

25,485

NET BOOK VALUE

At 31 March 2025

25,485

At 31 March 2024

25,485

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

412,240

415,198

Other debtors

50,902

55,354

463,142

470,552

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

7,188

-

Trade creditors

337,996

266,982

Amounts owed to group undertakings

635,519

721,570

Taxation and social security

32,402

44,552

Other creditors

13,372

75,502

1,036,477

1,118,606

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

1,667

11,667

Hire purchase contracts

14,376

-

16,043

11,667

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

11,667

21,667

Any bank overdrafts and loans are secured by standard security, bonds and floating charges and inter company guarantees from the following group companies :

Calzeat & Company Limited

John Bell Fabrics Limited

Calzeat Scotland Ltd

Thistle Mills Scotland Limited

Peter Macarthur and Company Limited

Morgan & Oates Scarves Ltd

Calzeat Retail Ltd

10.	RELATED PARTY DISCLOSURES

The undernoted companies are deemed to be related parties by virtue of the fact that they are wholly owned subsidiaries of Calzeat and Company Limited either directly or via one of its subsidiaries :

Peter Macarthur and Company Limited

John Bell Fabrics Limited

Calzeat Scotland Ltd

Thistle Mills Scotland Limited

Calzeat Retail Ltd

Morgan and Oates Scarves Ltd

Calzeat and Company Limited purchased services from John Bell Fabrics Limited, a subsidiary undertaking, amounting to £402,159 (2024 - £318,240). Goods were sold to Calzeat Retail Ltd amounting to £149,477 (2024 - £122,557).

In addition, a management charge of £12,000 (2024 - £12,000) was made during the year on subsidiary company Calzeat Retail Ltd.

The following amounts were outstanding at the year end :

Due to Peter Macarthur and Company Limited £239,292

Due to John Bell Fabrics Limited £270,443

Due to Calzeat Scotland Ltd £361,509

Due by Calzeat Retail Ltd £235,705

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is ARM Galbraith, a director and shareholder of the company.