REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MCCALLUM BAGPIPES LIMITED |
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MCCALLUM BAGPIPES LIMITED |
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
|
|
|
|
MCCALLUM BAGPIPES LIMITED (REGISTERED NUMBER: SC232526) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
MCCALLUM BAGPIPES LIMITED |
|
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
11 Portland Road |
Kilmarnock |
Ayrshire |
KA1 2BT |
MCCALLUM BAGPIPES LIMITED (REGISTERED NUMBER: SC232526) |
|
|
BALANCE SHEET |
30TH SEPTEMBER 2020 |
|
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
MCCALLUM BAGPIPES LIMITED (REGISTERED NUMBER: SC232526) |
|
|
BALANCE SHEET - continued |
30TH SEPTEMBER 2020 |
|
|
|
|
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
|
|
|
|
|
|
|
|
|
|
|
MCCALLUM BAGPIPES LIMITED (REGISTERED NUMBER: SC232526) |
|
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
|
1. | STATUTORY INFORMATION |
|
McCallum Bagpipes Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Coronavirus (COVID-19) Pandemic |
COVID-19 was given pandemic status by the WHO on 11th March 2020, prior to the balance sheet date, and the directors have carefully considered the impact of this on the company's financial statements. No changes to the basis of accounting or accounting adjustments are considered to be appropriate on the basis of the directors' COVID-19 review, actions and known outcomes at the date of approval of the financial statements. |
|
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 |
|
Land and buildings | - |
|
Plant and machinery etc | - |
|
|
Government grants |
Revenue grants are recognised as income in the Income Statement when received or when grant conditions are met. Capital grants are recognised as deferred income and amortised over the useful economic life of the asset purchased. |
|
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. |
|
MCCALLUM BAGPIPES LIMITED (REGISTERED NUMBER: SC232526) |
|
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
|
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. |
|
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
|
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
|
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
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st October 2019 |
and 30th September 2020 |
|
|
|
DEPRECIATION |
At 1st October 2019 |
|
|
|
Charge for year |
|
|
|
At 30th September 2020 |
|
|
|
NET BOOK VALUE |
At 30th September 2020 |
|
|
|
At 30th September 2019 |
|
|
|
MCCALLUM BAGPIPES LIMITED (REGISTERED NUMBER: SC232526) |
|
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
|
4. | TANGIBLE FIXED ASSETS - continued |
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
|
Plant and |
machinery |
etc |
£ |
COST |
At 1st October 2019 |
and 30th September 2020 |
|
DEPRECIATION |
At 1st October 2019 |
|
Charge for year |
|
At 30th September 2020 |
|
NET BOOK VALUE |
At 30th September 2020 |
|
At 30th September 2019 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
|
|
Hire purchase contracts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
MCCALLUM BAGPIPES LIMITED (REGISTERED NUMBER: SC232526) |
|
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2020 |
|
|
7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2019 |
£ | £ |
Bank loans |
|
|
Hire purchase contracts |
|
|
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | 47,500 | - |
|
8. | RELATED PARTY DISCLOSURES |
|
Included in other creditors is a balance of £870 due to the directors by the company. There are no formal repayment terms and no interest has been charged during the year. |