Patrick's of Camelon Ltd. - Accounts to registrar (filleted) - small 18.2

Patrick's of Camelon Ltd. - Accounts to registrar (filleted) - small 18.2

PATRICK'S OF CAMELON LTD. - Company Information

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IRIS Accounts Production v22.1.4.3 SC370550 director 1.1.21 31.12.21 31.12.21 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC3705502020-12-31SC3705502021-12-31SC3705502021-01-012021-12-31SC3705502019-12-31SC3705502020-01-012020-12-31SC3705502020-12-31SC370550ns16:Scotland2021-01-012021-12-31SC370550ns15:PoundSterling2021-01-012021-12-31SC370550ns11:Director12021-01-012021-12-31SC370550ns11:PrivateLimitedCompanyLtd2021-01-012021-12-31SC370550ns11:SmallEntities2021-01-012021-12-31SC370550ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-31SC370550ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-31SC370550ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-31SC370550ns11:FullAccounts2021-01-012021-12-31SC37055012021-01-012021-12-31SC370550ns6:CurrentFinancialInstruments2021-12-31SC370550ns6:CurrentFinancialInstruments2020-12-31SC370550ns6:ShareCapital2021-12-31SC370550ns6:ShareCapital2020-12-31SC370550ns6:CapitalRedemptionReserve2021-12-31SC370550ns6:CapitalRedemptionReserve2020-12-31SC370550ns6:RetainedEarningsAccumulatedLosses2021-12-31SC370550ns6:RetainedEarningsAccumulatedLosses2020-12-31SC370550ns6:NetGoodwill2021-01-012021-12-31SC370550ns6:LandBuildings2021-01-012021-12-31SC370550ns6:PlantMachinery2021-01-012021-12-31SC370550ns6:NetGoodwill2020-12-31SC370550ns6:NetGoodwill2021-12-31SC370550ns6:NetGoodwill2020-12-31SC370550ns6:LandBuildings2020-12-31SC370550ns6:PlantMachinery2020-12-31SC370550ns6:LandBuildings2021-12-31SC370550ns6:PlantMachinery2021-12-31SC370550ns6:LandBuildings2020-12-31SC370550ns6:PlantMachinery2020-12-31SC370550ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-31SC370550ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-31
REGISTERED NUMBER: SC370550 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Patrick's of Camelon Ltd.
Patrick's of Camelon Ltd. (Registered number: SC370550)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Balance Sheet 1

Notes to the Financial Statements 3


Patrick's of Camelon Ltd. (Registered number: SC370550)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £   
FIXED ASSETS
Intangible assets 4 200,000 225,000
Tangible assets 5 35,736 26,925
235,736 251,925

CURRENT ASSETS
Stocks 4,950 4,950
Debtors 6 2,050 2,007
Cash at bank and in hand 187,485 205,269
194,485 212,226
CREDITORS
Amounts falling due within one year 7 (31,135 ) (67,900 )
NET CURRENT ASSETS 163,350 144,326
TOTAL ASSETS LESS CURRENT
LIABILITIES
399,086
396,251

PROVISIONS FOR LIABILITIES (7,062 ) (3,904 )
NET ASSETS 392,024 392,347

CAPITAL AND RESERVES
Called up share capital 2 2
Capital redemption reserve 1 1
Retained earnings 392,021 392,344
392,024 392,347

The notes form part of these financial statements

Page 1 continued...
Patrick's of Camelon Ltd. (Registered number: SC370550)

Balance Sheet - continued
31 December 2021


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 6 May 2022 and were signed by:





Mr J Patrick Jnr - Director


The notes form part of these financial statements

Page 2
Patrick's of Camelon Ltd. (Registered number: SC370550)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Patrick's of Camelon Ltd. is a private company, limited by shares, domiciled in Scotland, registration number SC370550. The registered office is Unit 5 Gateway Business Park, Beancross Road, Grangemouth, Stirlingshire, FK3 8WX.

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 net invoiced sales of goods in respect of food, excluding value added tax. Sales are recognised at the point at which the goods are delivered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 5% on cost and 4% on cost
Plant and machinery etc - 25% on reducing balance and 20% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.


Page 3 continued...
Patrick's of Camelon Ltd. (Registered number: SC370550)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued
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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is
determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2020 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 500,000
AMORTISATION
At 1 January 2021 275,000
Charge for year 25,000
At 31 December 2021 300,000
NET BOOK VALUE
At 31 December 2021 200,000
At 31 December 2020 225,000

Page 4 continued...
Patrick's of Camelon Ltd. (Registered number: SC370550)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2021 8,855 174,219 183,074
Additions - 23,815 23,815
Disposals - (14,926 ) (14,926 )
At 31 December 2021 8,855 183,108 191,963
DEPRECIATION
At 1 January 2021 4,537 151,612 156,149
Charge for year 434 11,568 12,002
Eliminated on disposal - (11,924 ) (11,924 )
At 31 December 2021 4,971 151,256 156,227
NET BOOK VALUE
At 31 December 2021 3,884 31,852 35,736
At 31 December 2020 4,318 22,607 26,925

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Other debtors 2,050 2,007

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 7,238 8,758
Taxation and social security 21,560 43,545
Other creditors 2,337 15,597
31,135 67,900

Page 5