Carmichael Phillips Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC235584 (Scotland)

Unaudited Financial Statements

for the Year Ended 29 April 2022

for

Carmichael Phillips Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

6

DIRECTOR:

M Carmichael

SECRETARY:

M Carmichael

REGISTERED OFFICE:

45 Longrow

Campbeltown

Argyll

PA28 6ER

REGISTERED NUMBER:

SC235584 (Scotland)

ACCOUNTANTS:

T B Dunn & Co

308 Albert Drive

Pollokshields

GLASGOW

G41 5RS

FIXED ASSETS

Investments

5

201,370

191,303

CURRENT ASSETS

Cash at bank

120,824

117,765

CREDITORS

Amounts falling due within one year

6

32,419

33,347

NET CURRENT ASSETS

88,405

84,418

TOTAL ASSETS LESS CURRENT LIABILITIES

289,775

275,721

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Share premium

191,500

191,500

Retained earnings

97,275

83,221

SHAREHOLDERS' FUNDS

289,775

275,721

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 April 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 9 January 2023 and were signed by:

M Carmichael - Director

1.	STATUTORY INFORMATION

Carmichael Phillips 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management's best knowledge of the amount, events or actions, actual results ultimately may differ from those estimates.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Other investments

Other investments are measured at fair value with changes in fair value recognised in the income statement.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash and deposits with financial institutions repayable without penalty on notice of not more than twenty four hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

5.	FIXED ASSET INVESTMENTS

Shares in

group

Listed

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 30 April 2021

216,748

135,538

352,286

Additions

-

1,244

1,244

Disposals

-

(7,350

)

(7,350

)

Revaluations

-

11,250

11,250

At 29 April 2022

216,748

140,682

357,430

PROVISIONS

At 30 April 2021

160,983

-

160,983

Revaluation adjustments

(4,923

)

-

(4,923

)

At 29 April 2022

156,060

-

156,060

NET BOOK VALUE

At 29 April 2022

60,688

140,682

201,370

At 29 April 2021

55,765

135,538

191,303

Cost or valuation at 29 April 2022 is represented by:

Shares in

group

Listed

undertakings

investments

Totals

£

£

£

Valuation in 2022

-

140,682

140,682

Cost

216,748

-

216,748

216,748

140,682

357,430

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Tax

-

48

Directors' current accounts

31,499

31,499

Accrued expenses

920

1,800

32,419

33,347

The following reproduces the text of the report prepared for the director 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 Income Statement and certain other primary statements and the Report of the Director 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 Carmichael Phillips Limited for the year ended 29 April 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Carmichael Phillips Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Carmichael Phillips Limited and state those matters that we have agreed to state to the director of Carmichael Phillips Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Carmichael Phillips 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 Carmichael Phillips Limited. You consider that Carmichael Phillips 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 Carmichael Phillips 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.

T B Dunn & Co

308 Albert Drive

Pollokshields

GLASGOW

G41 5RS

9 January 2023