Company Registration No. SC068836 (Scotland)
CALEDONIAN AGRICULTURAL MANAGEMENT SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
James Hair & Co
59 Bonnygate
CUPAR
Fife
UK
KY15 4BY
CALEDONIAN AGRICULTURAL MANAGEMENT SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,970
7,960
Investments
4
4,750
4,750
10,720
12,710
Current assets
Debtors
5
71,454
68,303
Cash at bank and in hand
30,329
27,797
101,783
96,100
Creditors: amounts falling due within one year
6
(8,332)
(16,342)
Net current assets
93,451
79,758
Total assets less current liabilities
104,171
92,468
Provisions for liabilities
7
(1,134)
(1,512)
Net assets
103,037
90,956
Capital and reserves
Called up share capital
8
74
74
Capital redemption reserve
26
26
Profit and loss reserves
102,937
90,856
Total equity
103,037
90,956
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CALEDONIAN AGRICULTURAL MANAGEMENT SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2021
31 December 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 September 2022 and are signed on its behalf by:
Mrs Margaret Hair
Director
Company Registration No. SC068836
CALEDONIAN AGRICULTURAL MANAGEMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
1
Accounting policies
Company information
Caledonian Agricultural Management Services Limited is a
private
company
limited by shares
incorporated in
Scotland
.
The registered office is
59 Bonnygate, CUPAR, Fife, UK, KY15 4BY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
T
urnover comprises the
value of property and HR management and consultancy services supplied
by the company, net of Value Added Tax.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
12 1/2 % straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Fixed asset investments
Investments in shares are initially recognised at fair value, which is normally the transaction price less the transaction costs. Subsequent measurement is at fair value, where shares are publicly traded or the fair value can be measured reliably. Where fair value cannot be measured reliably investments are included at cost less impairment.
1.5
Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with charges recognised in profit and loss.
1.6
Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
income statement
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
CALEDONIAN AGRICULTURAL MANAGEMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
income statement
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
3
3
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 January 2021 and 31 December 2021
1,558
35,000
36,558
Depreciation and impairment
At 1 January 2021
1,558
27,040
28,598
Depreciation charged in the year
1,990
1,990
At 31 December 2021
1,558
29,030
30,588
Carrying amount
At 31 December 2021
5,970
5,970
At 31 December 2020
7,960
7,960
CALEDONIAN AGRICULTURAL MANAGEMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 5 -
4
Fixed asset investments
2021
2020
£
£
Other investments other than loans
4,750
4,750
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 January 2021 & 31 December 2021
4,750
Carrying amount
At 31 December 2021
4,750
At 31 December 2020
4,750
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
2,159
Other debtors
69,240
68,248
Prepayments and accrued income
55
55
71,454
68,303
6
Creditors: amounts falling due within one year
2021
2020
£
£
Corporation tax
3,212
679
Other taxation and social security
192
Other creditors
188
188
Directors current accounts
4,740
15,475
8,332
16,342
7
Provisions for liabilities
2021
2020
£
£
Deferred tax liabilities
1,134
1,512
CALEDONIAN AGRICULTURAL MANAGEMENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
8
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
74 Ordinary shares of £1 each
74
74