Calmac Developments Limited - Accounts to registrar (filleted) - small 18.2
Calmac Developments Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30th September 2021 |
| for |
| Calmac Developments Limited |
| Calmac Developments Limited (Registered number: SC084696) |
| Contents of the Financial Statements |
| for the Year Ended 30th September 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 8 |
| Calmac Developments Limited |
| Company Information |
| for the Year Ended 30th September 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Dumfries Enterprise Park |
| Heathhall |
| Dumfries |
| DUMFRIESSHIRE |
| DG1 3SJ |
| SOLICITORS: |
| 104 Irish Street |
| Dumfries |
| DG1 2PB |
| Calmac Developments Limited (Registered number: SC084696) |
| Balance Sheet |
| 30th September 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Calmac Developments Limited (Registered number: SC084696) |
| Balance Sheet - continued |
| 30th September 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
| Calmac Developments Limited (Registered number: SC084696) |
| Notes to the Financial Statements |
| for the Year Ended 30th September 2021 |
| 1. | STATUTORY INFORMATION |
| Calmac Developments Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the total invoice value, excluding value added tax, of goods and services supplies to customers during the year and arose wholly from its principal activity in the United Kingdom. In accordance with the principles of revenue recognition, income is recognised as the right to consideration obtained through performance of contractual obligations, and is included in the financial statements when the company is legally entitled to the income. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Amounts written off each asset over the estimated useful life represent cost less residual value. |
| The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in 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 |
| Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and lose account so as to produce constant periodic rates of charge on the net obligations outstanding in each period. |
| Calmac Developments Limited (Registered number: SC084696) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th September 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. |
| Trade debtors |
| Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business. |
| Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties. |
| Trade creditors |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. |
| Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities. |
| Borrowings |
| Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. |
| Provisions and contingencies |
| Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| COST |
| At 1st October 2020 |
| Additions |
| At 30th September 2021 |
| DEPRECIATION |
| At 1st October 2020 |
| Charge for year |
| At 30th September 2021 |
| NET BOOK VALUE |
| At 30th September 2021 |
| At 30th September 2020 |
| Calmac Developments Limited (Registered number: SC084696) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th September 2021 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1st October 2020 |
| Additions |
| At 30th September 2021 |
| DEPRECIATION |
| At 1st October 2020 |
| Charge for year |
| At 30th September 2021 |
| NET BOOK VALUE |
| At 30th September 2021 |
| At 30th September 2020 |
| Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
| Plant and |
| machinery |
| £ |
| COST |
| At 1st October 2020 |
| and 30th September 2021 |
| DEPRECIATION |
| At 1st October 2020 |
| and 30th September 2021 |
| NET BOOK VALUE |
| At 30th September 2021 |
| At 30th September 2020 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1st October 2020 |
| and 30th September 2021 |
| NET BOOK VALUE |
| At 30th September 2021 |
| At 30th September 2020 |
| Calmac Developments Limited (Registered number: SC084696) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th September 2021 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st October 2020 |
| and 30th September 2021 |
| NET BOOK VALUE |
| At 30th September 2021 |
| At 30th September 2020 |
| Fair value at 30th September 2021 is represented by: |
| £ |
| Valuation in 2013 | 1,955,000 |
| If investment property had not been revalued 2013 would have been included at the following historical cost: |
| 2021 | 2020 |
| £ | £ |
| Cost | 1,391,752 | 1,391,752 |
| Investment property was valued on open market basis on 31st January 2013 by Shepherd, Chartered Surveyors . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Prepayments |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| G D McCall Junior | 85,069 | 72,828 |
| C McCall loan | 19,939 | 19,939 |
| G D McCall Executry | - | 12,241 |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 27,972 | 3,869 |
| Directors' current accounts | 354,638 | 414,168 |
| Deferred income |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Calmac Developments Limited (Registered number: SC084696) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th September 2021 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2021 | 2020 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 432,456 | 576,396 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2021 | 2020 |
| £ | £ |
| Bank overdraft |
| Bank loans |
| The bank overdraft and bank loan are secured by means of a bond and floating charge over the whole assets of the company. The hire purchase creditors are secured against the assets involved. |
| 11. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1st October 2020 |
| and 30th September 2021 |
| 12. | ULTIMATE CONTROLLING PARTY |
| The company is under the control of Mr & Mrs G D McCall, who own 67.7% of the issued share capital between them. |