CalMax Construction Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC200789 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

CALMAX CONSTRUCTION LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Calum Mackay

Christeen Mackay

SECRETARY:

CIB Secretarial Limited

REGISTERED OFFICE:

1 Blackwater

Newmarket

Isle of Lewis

HS2 0EE

REGISTERED NUMBER:

SC200789 (Scotland)

ACCOUNTANTS:

CIB Services

Chartered Accountants

63 Kenneth Street

Stornoway

Isle of Lewis

Western Isles

HS1 2DS

FIXED ASSETS

940,241

Tangible assets

4

987,589

CURRENT ASSETS

80,552

Stocks

82,481

695,120

Debtors

677,064

210,180

Cash at bank

139,562

985,852

899,107

CREDITORS

1,009,466

Amounts falling due within one year

969,758

(23,614

)

NET CURRENT LIABILITIES

(70,651

)

916,627

TOTAL ASSETS LESS CURRENT LIABILITIES

916,938

CREDITORS

(212,207

)

Amounts falling due after more than one year

(195,299

)

(84,313

)

PROVISIONS FOR LIABILITIES

(101,050

)

620,107

NET ASSETS

620,589

CAPITAL AND RESERVES

20,000

Called up share capital

20,000

600,107

Retained earnings

600,589

620,107

SHAREHOLDERS' FUNDS

620,589

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 June 2020 and were signed on its behalf by:

Calum Mackay - Director

1.	STATUTORY INFORMATION

CalMax Construction 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.

Turnover

Turnover represents the value of construction work invoiced during the year, adjusted for the movement in the value

of work in progress.

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.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

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

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2018 - 54 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2018

2,264,134

Additions

346,630

At 31 October 2019

2,610,764

DEPRECIATION

At 1 November 2018

1,323,893

Charge for year

299,282

At 31 October 2019

1,623,175

NET BOOK VALUE

At 31 October 2019

987,589

At 31 October 2018

940,241

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

Totals

£

COST

At 1 November 2018

918,530

Additions

296,028

Transfer to ownership

(80,745

)

At 31 October 2019

1,133,813

DEPRECIATION

At 1 November 2018

274,929

Charge for year

160,156

Transfer to ownership

(43,511

)

At 31 October 2019

391,574

NET BOOK VALUE

At 31 October 2019

742,239

At 31 October 2018

643,601

5.	SECURED DEBTS

The bank overdraft is secured by a floating charge over the company's assets and undertakings and by a personal

guarantee of £30,000 from Calum Mackay, director.

6.	RELATED PARTY DISCLOSURES

The company paid rent for yard and offices of £14,400 to Calum Mackay, director, during the year ended 31 October

2018.

7.	ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of the directors, Calum and Christeen Mackay.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of CalMax Construction Limited for the year ended 31 October 2019 which comprise the Abridged Income

Statement, Abridged 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of CalMax Construction Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of CalMax Construction Limited and state those matters that we have agreed to state to the Board of Directors of CalMax Construction Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that CalMax Construction Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of CalMax Construction Limited. You consider that CalMax Construction Limited 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 financial statements of CalMax Construction Limited. 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 statutory financial statements.

CIB Services

Chartered Accountants

63 Kenneth Street

Stornoway

Isle of Lewis

Western Isles

HS1 2DS

26 June 2020