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REGISTERED NUMBER: SC172887 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 December 2021

for

South Lanarkshire Building Supplies
Limited

South Lanarkshire Building Supplies
Limited (Registered number: SC172887)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

South Lanarkshire Building Supplies
Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: Mrs M M Rodger
M T Rodger
Miss L M Rodger
S Queen





SECRETARY: S Queen





REGISTERED OFFICE: 2 Canderside Industrial Estate
Carlisle Road Birkenshaw
Larkhall
Lanarkshire
ML9 2TP





REGISTERED NUMBER: SC172887 (Scotland)





ACCOUNTANTS: Henderson & Company
73 Union Street
Greenock
Renfrewshire
PA16 8BG

South Lanarkshire Building Supplies
Limited (Registered number: SC172887)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 850,719 796,583
Investments 5 1,300 1,300
852,019 797,883

CURRENT ASSETS
Stocks 1,039,111 614,085
Debtors 6 4,781,209 4,544,913
Cash at bank 693,127 784,476
6,513,447 5,943,474
CREDITORS
Amounts falling due within one year 7 260,307 371,463
NET CURRENT ASSETS 6,253,140 5,572,011
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,105,159

6,369,894

PROVISIONS FOR LIABILITIES 32,989 28,874
NET ASSETS 7,072,170 6,341,020

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 8 405,441 405,441
Retained earnings 6,665,729 5,934,579
7,072,170 6,341,020

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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.

South Lanarkshire Building Supplies
Limited (Registered number: SC172887)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 14 September 2022 and were signed on its behalf by:





M T Rodger - Director


South Lanarkshire Building Supplies
Limited (Registered number: SC172887)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

South Lanarkshire Building Supplies 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over their expected useful lives as follows:

Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate or if there is an indication of significant change since the last reporting date.

Stocks
Stocks are stated at the lower of cost and estimated selling price. Cost includes all costs of purchase and other costs incurred in bringing the stock to its present location and condition.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amounts of any write downs to stock to net realisable value and all losses of stocks are recognised as an expense in the period in which the write down or loss occurs.


South Lanarkshire Building Supplies
Limited (Registered number: SC172887)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are recognised for all taxable timing differences. Deferred tax assets are recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount for deferred tax assets is reviewed at the end of each reporting period 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 recoverd.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or asset realised, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. The assets of the plan are held separately from the company in independently administered funds.

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

Creditors
Basic financial instruments, including preference shares that are classified as debt, are measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is initially measured at fair value and subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position bank overdrafts are shown within borrowings in current liabilities.

Government grants
Grants related to expenditure on tangible fixed assets are credited to profit over a period approximating to the lives of qualifying assets. The grants shown in the balance sheet consist of the total grants receivable to date less the amounts so far credited to profit. Revenue grants are credited in the year in which they accrue.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2020 - 15 ) .

South Lanarkshire Building Supplies
Limited (Registered number: SC172887)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2021 605,000 402,449 224,755 428,959 1,661,163
Additions 34,853 62,697 1,093 - 98,643
Disposals - - - (74,800 ) (74,800 )
At 31 December 2021 639,853 465,146 225,848 354,159 1,685,006
DEPRECIATION
At 1 January 2021 - 294,418 183,636 386,526 864,580
Charge for year - 21,015 6,332 10,426 37,773
Eliminated on disposal - - - (68,066 ) (68,066 )
At 31 December 2021 - 315,433 189,968 328,886 834,287
NET BOOK VALUE
At 31 December 2021 639,853 149,713 35,880 25,273 850,719
At 31 December 2020 605,000 108,031 41,119 42,433 796,583

Cost or valuation at 31 December 2021 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2019 405,401 - - - 405,401
Cost 234,452 465,146 225,848 354,159 1,279,605
639,853 465,146 225,848 354,159 1,685,006

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2021
and 31 December 2021 1,300
NET BOOK VALUE
At 31 December 2021 1,300
At 31 December 2020 1,300

South Lanarkshire Building Supplies
Limited (Registered number: SC172887)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 534,153 393,657
Amounts owed by group undertakings 4,235,028 4,146,313
Other debtors 12,028 4,943
4,781,209 4,544,913

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 80,710 171,250
Amounts owed to group undertakings 63,702 5,563
Taxation and social security 108,330 189,205
Other creditors 7,565 5,445
260,307 371,463

8. RESERVES
Revaluation
reserve
£   
At 1 January 2021
and 31 December 2021 405,441

9. RELATED PARTY DISCLOSURES

The company was owed £4,235,028 from the parent company M&J Group Limited at 31 December 2021 (2020 - £4,146,313). This is an interest free loan with no fixed repayment date.

South Lanarkshire Building Supplies Limited owed M&J Builders Merchants Limited, a group company, £63,702 at 31 December 2021 (2020 - £5,563). This is an interest free loan with no fixed repayment date.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
South Lanarkshire Building Supplies
Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of South Lanarkshire Building Supplies Limited for the year ended 31 December 2021 which comprise the Income Statement, 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of South Lanarkshire Building Supplies Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of South Lanarkshire Building Supplies Limited and state those matters that we have agreed to state to the Board of Directors of South Lanarkshire Building Supplies Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that South Lanarkshire Building Supplies Limited 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 South Lanarkshire Building Supplies Limited. You consider that South Lanarkshire Building Supplies Limited 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 South Lanarkshire Building Supplies Limited. 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.






Henderson & Company
73 Union Street
Greenock
Renfrewshire
PA16 8BG


14 September 2022