CHARLESFORT HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
Company Registration No. SC477202 (Scotland)
PAGES FOR FILING WITH REGISTRAR
CHARLESFORT HOLDINGS LTD
COMPANY INFORMATION
Directors
Mr Colin McCall
Mr James Cochrane
Mr David Weir
Company number
SC477202
Registered office
c/o William Duncan + Co Ltd
38 Beansburn
Kilmarnock
East Ayrshire
Scotland
KA3 1RL
Accountants
William Duncan + Co Ltd
38 Beansburn
Kilmarnock
East Ayrshire
Scotland
KA3 1RL
CHARLESFORT HOLDINGS LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
CHARLESFORT HOLDINGS LTD
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF CHARLESFORT HOLDINGS LTD
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Charlesfort Holdings Ltd for the year ended 31 May 2022 which comprise, the balance sheet 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 ICAS we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts
This report is made solely to the Board of Directors of Charlesfort Holdings Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Charlesfort Holdings Ltd and state those matters that we have agreed to state to the Board of Directors of Charlesfort Holdings Ltd, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Charlesfort Holdings Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Charlesfort Holdings Ltd 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 Charlesfort Holdings Ltd. You consider that Charlesfort Holdings Ltd 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 Charlesfort Holdings Ltd. 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.
William Duncan + Co Ltd
9 January 2023
Chartered Accountants
38 Beansburn
Kilmarnock
East Ayrshire
Scotland
KA3 1RL
CHARLESFORT HOLDINGS LTD
BALANCE SHEET
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
3
300
300
Current assets
Cash at bank and in hand
87
241
Creditors: amounts falling due within one year
4
(1,243)
(1,953)
Net current liabilities
(1,156)
(1,712)
Net liabilities
(856)
(1,412)
Capital and reserves
Called up share capital
5
450
450
Profit and loss reserves
(1,306)
(1,862)
Total equity
(856)
(1,412)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 May 2022 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.
The financial statements were approved by the board of directors and authorised for issue on 9 January 2023 and are signed on its behalf by:
Mr Colin McCall
Director
Company Registration No. SC477202
CHARLESFORT HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
- 3 -
1
Accounting policies
Company information
Charlesfort Holdings Ltd is a
private
company
limited by shares
incorporated in
Scotland
.
The registered office is
c/o William Duncan + Co Ltd, 38 Beansburn, Kilmarnock, East Ayrshire, Scotland, KA3 1RL.
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
Going concern
The company has a net deficit on the balance sheet of £856. However the going concern basis of preparation is appropriate as the directors continue to support the business via their associated companies.
true
1.3
Fixed asset investments
Interests in subsidiaries
are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
CHARLESFORT HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
3
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
300
300
4
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
283
1,153
Other creditors
960
800
1,243
1,953
5
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
450
450
450
450