Carpenters Scotland Limited - Limited company accounts 23.1

REGISTERED NUMBER: SC607743 (Scotland)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2022

for

Carpenters Scotland Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

J Carpenter

A Hayes

Ms D Scully

C MacGregor

SECRETARY:

Mrs D M Richards

REGISTERED OFFICE:

Third Floor Office Suite

147 Blythswood Street

Glasgow

G2 4EN

REGISTERED NUMBER:

SC607743 (Scotland)

The directors present their report with the financial statements of the company for the year ended 31 December 2022.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the provision of legal services.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2022 to the date of this report.

J Carpenter

A Hayes

Ms D Scully

C MacGregor

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

A Hayes - Director

28 September 2023

TURNOVER

3,567,680

2,553,094

Cost of sales

-

650

GROSS PROFIT

3,567,680

2,552,444

Administrative expenses

3,567,680

2,552,444

OPERATING PROFIT and

PROFIT BEFORE TAXATION

-

Tax on profit

5

-

PROFIT FOR THE FINANCIAL YEAR

-

FIXED ASSETS

Tangible assets

6

574

964

CURRENT ASSETS

Debtors

7

1,177,943

1,078,962

Prepayments and accrued income

13,407

113,808

Cash at bank

35,324

46,992

1,226,674

1,239,762

CREDITORS

Amounts falling due within one year

8

1,226,246

1,239,724

NET CURRENT ASSETS

428

38

TOTAL ASSETS LESS CURRENT LIABILITIES

1,002

CAPITAL AND RESERVES

Called up share capital

9

1,002

SHAREHOLDERS' FUNDS

1,002

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:

A Hayes - Director

1.	STATUTORY INFORMATION

Carpenters Scotland 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.

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 on a reducing balance basis over its estimated useful life.

Fixtures & Fittings

18% reducing balance per annum

Computer equipment

18% reducing balance per annum

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.

Accrued income

Profit is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of work carried out at the year end by recording revenue and related costs on each case. Revenue is calculated as the proportion of total case value which costs incurred to date bear to total costs for each case. The remaining revenue is only recognised on completion of the case.

No value is placed on accrued income in relation to continent fee cases in accordance with recognised accounting practice, where there is insufficient certainty as to the outcome of the cases to justify the recognition as an asset.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

31.12.22

31.12.21

£

Directors' remuneration

83,985

82,869

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.12.22

31.12.21

£

Depreciation - owned assets

390

391

5.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 December 2022 nor for the year ended 31 December 2021.

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2022

and 31 December 2022

1,979

DEPRECIATION

At 1 January 2022

1,015

Charge for year

390

At 31 December 2022

1,405

NET BOOK VALUE

At 31 December 2022

574

At 31 December 2021

964

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

Trade debtors

47,199

2,591

Other debtors

1,130,744

1,076,371

1,177,943

1,078,962

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

Amounts owed to associates

1,206,161

1,236,080

Taxation and social security

3,163

2,974

Other creditors

16,922

670

1,226,246

1,239,724

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.12.21

value:

£

1,002

Ordinary

£1

1,002

10.	RELATED PARTY DISCLOSURES

Carpenters Limited

The company is contracted to provide legal services to the clients of Carpenters Limited. Carpenters Limited and Carpenters Scotland Limited have the same Ultimate Controlling Parties. During the period the following transactions occurred with Carpenters Limited:-

Purchases

£3,425,797

Amount Owed To Related Party

£1,206,161

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr J Carpenter & Ms D Scully.