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REGISTERED NUMBER: SC340207 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

PATERSON BELL LIMITED

PATERSON BELL LIMITED (REGISTERED NUMBER: SC340207)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PATERSON BELL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Iain Paterson
David Bell
Martin McGuire



REGISTERED OFFICE: 4d Auchingramont Road
Hamilton
ML3 6JT



BUSINESS ADDRESS: 34 Blair Street
Edinburgh
EH1 1QR



REGISTERED NUMBER: SC340207 (Scotland)



ACCOUNTANTS: William Duncan (UK) Limited
Chartered Accountants
4d Auchingramont Road
Hamilton
ML3 6JT



BANKERS: Bank of Scotland
6 Picardy Place
Edinburgh
EH1 3JT

PATERSON BELL LIMITED (REGISTERED NUMBER: SC340207)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 130,976 159,144

CURRENT ASSETS
Stocks 146,901 127,845
Debtors 5 375,578 350,534
Cash at bank and in hand 194,397 218,829
716,876 697,208
CREDITORS
Amounts falling due within one year 6 277,340 268,372
NET CURRENT ASSETS 439,536 428,836
TOTAL ASSETS LESS CURRENT
LIABILITIES

570,512

587,980

CREDITORS
Amounts falling due after more than one
year

7

(20,413

)

(32,068

)

PROVISIONS FOR LIABILITIES (4,536 ) (9,258 )
NET ASSETS 545,563 546,654

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 545,560 546,651
SHAREHOLDERS' FUNDS 545,563 546,654

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

PATERSON BELL LIMITED (REGISTERED NUMBER: SC340207)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 10 August 2023 and were signed on its behalf by:




Iain Paterson - Director David Bell - Director




Martin McGuire - Director


PATERSON BELL LIMITED (REGISTERED NUMBER: SC340207)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Paterson Bell 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services
Turnover from the rendering of services, namely the provision of legal services, is recognised by reference to the stage of completion of the service at the statement of financial position date.

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
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost
Office equipment - 20% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of impairment loss is recognised immediately in the income statement.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

PATERSON BELL LIMITED (REGISTERED NUMBER: SC340207)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised as follows:

(i) 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.

(ii) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the statement of financial position.

(iii) Creditors
Short term trade 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

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 the income statement in the period to which they relate.

Provision for liabilities
The company recognises a provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

PATERSON BELL LIMITED (REGISTERED NUMBER: SC340207)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 22 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Office
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 143,292 10,409 102,339 59,377 315,417
Additions - - - 2,043 2,043
At 31 March 2023 143,292 10,409 102,339 61,420 317,460
DEPRECIATION
At 1 April 2022 35,390 9,824 61,707 49,352 156,273
Charge for year 2,866 118 23,708 3,519 30,211
At 31 March 2023 38,256 9,942 85,415 52,871 186,484
NET BOOK VALUE
At 31 March 2023 105,036 467 16,924 8,549 130,976
At 31 March 2022 107,902 585 40,632 10,025 159,144

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 138,162 121,986
Directors' loans 206,039 205,988
Prepaid charges 31,377 22,560
375,578 350,534

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Balances due to clients 31,555 54,134
Corporation tax 101,884 85,306
PAYE and NIC 12,565 12,217
VAT 102,174 86,539
Other creditors 17,009 16,771
Accrued charges 12,153 13,405
277,340 268,372

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Other creditors 20,413 32,068

PATERSON BELL LIMITED (REGISTERED NUMBER: SC340207)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 11,000 11,000
Between one and five years 21,744 33,802
32,744 44,802

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Iain Paterson
Balance outstanding at start of year (5,663 ) (5,663 )
Amounts advanced (10 ) -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,673 ) (5,663 )

David Bell
Balance outstanding at start of year (63,115 ) (63,085 )
Amounts advanced (87 ) (30 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (63,202 ) (63,115 )

Martin McGuire
Balance outstanding at start of year (137,209 ) (157,209 )
Amounts advanced 45 20,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (137,164 ) (137,209 )

The above balances, which are due from the directors, are interest free, unsecured and have no fixed repayment terms.