Carrigans (Blantyre) Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC448992 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022

FOR

CARRIGANS (BLANTYRE) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Carrigan

Mrs MP Carrigan

B Carrigan

REGISTERED OFFICE:

Castle Chambers

67 Main Street

Bothwell

Glasgow

G71 8ER

REGISTERED NUMBER:

SC448992 (Scotland)

ACCOUNTANT:

John Murphy & Company (Scotland) Limited

Chartered Accountants

Castle Chambers

67 Main Street

Bothwell

Lanarkshire

G71 8ER

FIXED ASSETS

Tangible assets

4

2,728,975

2,757,690

CURRENT ASSETS

Stocks

47,583

40,384

Debtors

5

306,951

112,169

Cash at bank and in hand

323,251

74,220

677,785

226,773

CREDITORS

Amounts falling due within one year

6

833,609

644,991

NET CURRENT LIABILITIES

(155,824

)

(418,218

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,573,151

2,339,472

CREDITORS

Amounts falling due after more than one year

7

(1,465,542

)

(1,562,844

)

PROVISIONS FOR LIABILITIES

10

(122,201

)

(123,369

)

NET ASSETS

985,408

653,259

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

985,308

653,159

SHAREHOLDERS' FUNDS

985,408

653,259

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 21 October 2022 and were signed on its behalf by:

J Carrigan - Director

1.	STATUTORY INFORMATION

Carrigans (Blantyre) 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.

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.

Freehold property

-

not provided

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

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

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 59 (2021 - 69 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 June 2021

2,610,804

209,970

325,266

3,146,040

Additions

35,140

11,574

6,174

52,888

At 31 May 2022

2,645,944

221,544

331,440

3,198,928

DEPRECIATION

At 1 June 2021

-

149,971

238,379

388,350

Charge for year

-

32,274

49,329

81,603

At 31 May 2022

-

182,245

287,708

469,953

NET BOOK VALUE

At 31 May 2022

2,645,944

39,299

43,732

2,728,975

At 31 May 2021

2,610,804

59,999

86,887

2,757,690

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Trade debtors

3,803

4,465

Amounts owed by group undertakings

211,414

93,903

Other debtors

91,734

13,801

306,951

112,169

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Bank loans and overdrafts (see note 8)

138,898

159,770

Trade creditors

159,334

130,700

Amounts owed to group undertakings

98,142

38,191

Corporation tax

104,273

46,165

Payroll taxation

14,382

12,757

VAT

82,183

104,706

Other creditors

3,413

4,211

Directors' current accounts

80,159

80,922

Accrued charges

152,825

67,569

833,609

644,991

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.22

31.5.21

£

£

Bank loans (see note 8)

1,465,542

1,562,844

31.5.22

31.5.21

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

890,268

883,590

8.

LOANS

An analysis of the maturity of loans is given below:

31.5.22

31.5.21

£

£

Amounts falling due within one year or on demand:

Bank loans

138,898

159,770

Amounts falling due between one and two years:

Bank loans - 1-2 years

139,085

163,801

Amounts falling due between two and five years:

Bank loans - 2-5 years

436,189

515,453

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

890,268

883,590

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.22

31.5.21

£

£

Bank loans

1,604,440

1,722,614

Bank borrowings are secured by standard securities together with bonds and floating charges over the assets of the ultimate parent company and its subsidiaries.

10.	PROVISIONS FOR LIABILITIES

31.5.22

31.5.21

£

£

Deferred tax

122,201

123,369

Deferred

tax

£

Balance at 1 June 2021

123,369

Provided during year

(1,168

)

Balance at 31 May 2022

122,201

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The overdrawn director's loan account was repaid in full on 31st August 2022.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is J Carrigan.