Angus Campbell Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC162315 (Scotland)

ANGUS CAMPBELL LTD.

Financial Statements for the Year Ended 31 January 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Campbell

REGISTERED OFFICE:

Cannery Road

Stornoway

Isle of Lewis

HS1 2SF

REGISTERED NUMBER:

SC162315 (Scotland)

ACCOUNTANTS:

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

FIXED ASSETS

Tangible assets

4

265,852

274,530

Investments

5

120,930

120,930

386,782

395,460

CURRENT ASSETS

Stocks

119,459

131,171

Debtors

6

297,724

264,468

Cash at bank and in hand

435,378

330,160

852,561

725,799

CREDITORS

Amounts falling due within one year

7

182,965

212,676

NET CURRENT ASSETS

669,596

513,123

TOTAL ASSETS LESS CURRENT LIABILITIES

1,056,378

908,583

PROVISIONS FOR LIABILITIES

21,733

23,353

NET ASSETS

1,034,645

885,230

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

1,029,645

880,230

SHAREHOLDERS' FUNDS

1,034,645

885,230

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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 27 May 2022 and were signed by:

A Campbell - Director

1.	STATUTORY INFORMATION

Angus Campbell Ltd. 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 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.

Buildings

-

not provided

Improvements to property

-

20% depreciation on cost

Plant and machinery

-

15% depreciation on cost

Fixtures and fittings

-

15% depreciation on reducing balance

Motor vehicles

-

25% depreciation on reducing balance

Computer equipment

-

33% depreciaton on cost

Until the year ended 31 January 2019, depreciation on buildings was charged at 5% on a straight line basis. The director changed this policy during the year ended 31 January 2020 to stop the charge as the market value of the asset is deemed to exceed the net book value in the accounts.

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.

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 28 (2021 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Buildings

property

machinery

£

£

£

COST

At 1 February 2021

360,000

2,779

82,825

Additions

862

-

-

At 31 January 2022

360,862

2,779

82,825

DEPRECIATION

At 1 February 2021

214,000

2,779

79,663

Charge for year

-

-

3,161

At 31 January 2022

214,000

2,779

82,824

NET BOOK VALUE

At 31 January 2022

146,862

-

1

At 31 January 2021

146,000

-

3,162

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2021

409,017

28,573

4,135

887,329

Additions

14,082

-

496

15,440

At 31 January 2022

423,099

28,573

4,631

902,769

DEPRECIATION

At 1 February 2021

293,836

18,522

3,999

612,799

Charge for year

18,411

2,512

34

24,118

At 31 January 2022

312,247

21,034

4,033

636,917

NET BOOK VALUE

At 31 January 2022

110,852

7,539

598

265,852

At 31 January 2021

115,181

10,051

136

274,530

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 February 2021

and 31 January 2022

120,930

NET BOOK VALUE

At 31 January 2022

120,930

At 31 January 2021

120,930

The fixed asset investment relates to two freehold properties both of which are valued at cost.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Trade debtors

201,242

180,385

Other debtors

96,482

84,083

297,724

264,468

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Hire purchase contracts

-

5,417

Trade creditors

97,849

117,258

Taxation and social security

64,404

64,552

Other creditors

20,712

25,449

182,965

212,676

8.	RELATED PARTY DISCLOSURES

Included within debtors falling due within one year is a balance due to by the director of £10,000 (2021 - £3,046 creditor). There are no repayment terms in place and interest is not charged on the balance.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is A Campbell.