Caithness F.M. Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC185596 (Scotland)

Financial Statements for the Year Ended 31 March 2021

for

Caithness F.M. Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Saxon

J Johnson

R Johnson

B Bain

R Young

B Saxon

K S Mcarthur

SECRETARY:

J Johnson

REGISTERED OFFICE:

Neil Gunn Drive

Ormlie Industrial Estate

Thurso

Caithness

KW14 7QU

REGISTERED NUMBER:

SC185596 (Scotland)

ACCOUNTANTS:

Reid & Fraser

Chartered Accountants

92 High Street

Wick

Caithness

KW1 4LY

BANKERS:

Bank of Scotland

25 Olrig Street

Thurso

Caithness

KW14 7HQ

FIXED ASSETS

Intangible assets

4

313

368

Tangible assets

5

10,153

11,891

10,466

12,259

CURRENT ASSETS

Debtors

6

3,995

3,003

Cash at bank and in hand

41,793

21,998

45,788

25,001

CREDITORS

Amounts falling due within one year

7

(351

)

(352

)

NET CURRENT ASSETS

45,437

24,649

TOTAL ASSETS LESS CURRENT LIABILITIES

55,903

36,908

ACCRUALS AND DEFERRED INCOME

(537

)

(671

)

NET ASSETS

55,366

36,237

RESERVES

Income and expenditure account

55,366

36,237

55,366

36,237

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 surplus or deficit 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 17 May 2021 and were signed on its behalf by:

J Johnson - Director

1.	STATUTORY INFORMATION

Caithness F.M. Ltd is a private company, limited by guarantee , 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. Also included in turnover are amounts received in respect of donations and sponsorship.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of seven years.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

20% straight line

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

GOVERNMENT GRANTS

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2020

and 31 March 2021

600

AMORTISATION

At 1 April 2020

232

Charge for year

55

At 31 March 2021

287

NET BOOK VALUE

At 31 March 2021

313

At 31 March 2020

368

5.	TANGIBLE FIXED ASSETS

Land

Equipment

Totals

£

£

£

COST

At 1 April 2020

1,353

67,103

68,456

Additions

791

1,127

1,918

At 31 March 2021

2,144

68,230

70,374

DEPRECIATION

At 1 April 2020

-

56,565

56,565

Charge for year

-

3,656

3,656

At 31 March 2021

-

60,221

60,221

NET BOOK VALUE

At 31 March 2021

2,144

8,009

10,153

At 31 March 2020

1,353

10,538

11,891

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

3,995

2,432

Other debtors

-

571

3,995

3,003

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

351

352