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REGISTERED NUMBER: SC122422 (Scotland)












Financial Statements

for the Year Ended 30 September 2021

for

J R Pearson (Glasgow) Limited

J R Pearson (Glasgow) Limited (Registered number: SC122422)






Contents of the Financial Statements
for the Year Ended 30 September 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J R Pearson (Glasgow) Limited

Company Information
for the Year Ended 30 September 2021







DIRECTOR: J R Pearson





REGISTERED OFFICE: 21 Carlaverock Road
Newlands
Glasgow
G43 2RZ





REGISTERED NUMBER: SC122422 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

J R Pearson (Glasgow) Limited (Registered number: SC122422)

Balance Sheet
30 September 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 261,515 269,124

CURRENT ASSETS
Inventories 107,199 151,702
Debtors 5 420,706 512,233
Cash at bank 71,740 63,857
599,645 727,792
CREDITORS
Amounts falling due within one year 6 259,159 314,348
NET CURRENT ASSETS 340,486 413,444
TOTAL ASSETS LESS CURRENT
LIABILITIES

602,001

682,568

CREDITORS
Amounts falling due after more than one
year

7

(89,610

)

(247,015

)

PROVISIONS FOR LIABILITIES (14,840 ) (14,447 )
NET ASSETS 497,551 421,106

CAPITAL AND RESERVES
Called up share capital 8 45,200 45,200
Revaluation reserve 9 275,481 275,481
Retained earnings 176,870 100,425
SHAREHOLDERS' FUNDS 497,551 421,106

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

J R Pearson (Glasgow) Limited (Registered number: SC122422)

Balance Sheet - continued
30 September 2021


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 director and authorised for issue on 13 September 2022 and were signed by:





J R Pearson - Director


J R Pearson (Glasgow) Limited (Registered number: SC122422)

Notes to the Financial Statements
for the Year Ended 30 September 2021

1. STATUTORY INFORMATION

J R Pearson (Glasgow) 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 as modified by the revaluation of certain assets.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance

Inventories
Inventories 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.

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.

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.

J R Pearson (Glasgow) Limited (Registered number: SC122422)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2021

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 4 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1 October 2020
and 30 September 2021 360,000 121,735 481,735
DEPRECIATION
At 1 October 2020 93,600 119,011 212,611
Charge for year 7,200 409 7,609
At 30 September 2021 100,800 119,420 220,220
NET BOOK VALUE
At 30 September 2021 259,200 2,315 261,515
At 30 September 2020 266,400 2,724 269,124

Cost or valuation at 30 September 2021 is represented by:

Freehold Plant and
property machinery Totals
£    £    £   
Cost 360,000 121,735 481,735

If freehold property had not been revalued it would have been included at the following historical cost:

2021 2020
£    £   
Cost 123,702 123,702
Aggregate depreciation 66,175 66,175

Freehold property was valued on an open market basis basis on 7 January 2008 by D M Hall, Chartered Surveyors .

J R Pearson (Glasgow) Limited (Registered number: SC122422)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 414,132 509,659
Other debtors 6,574 2,574
420,706 512,233

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 240,881 305,071
Taxation and social security 16,178 7,177
Other creditors 2,100 2,100
259,159 314,348

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Other creditors 89,610 247,015

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
45,200 Ordinary shares £1 45,200 45,200

9. RESERVES
Revaluation
reserve
£   
At 1 October 2020
and 30 September 2021 275,481