Registered number
SC299675
Hunters of Linlithgow Limited
Unaudited Filleted Accounts
31 March 2023
Hunters of Linlithgow Limited
Registered number: SC299675
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 195,209 507,772
Current assets
Stocks 37,808 249,522
Debtors 4 3,844 -
Cash at bank and in hand 714,808 229,748
756,460 479,270
Creditors: amounts falling due within one year 5 (170,168) (411,581)
Net current assets 586,292 67,689
Total assets less current liabilities 781,501 575,461
Creditors: amounts falling due after more than one year 6 (22,401) (32,387)
Provisions for liabilities (17,524) (20,176)
Net assets 741,576 522,898
Capital and reserves
Called up share capital 100 100
Profit and loss account 741,476 522,798
Shareholders' funds 741,576 522,898
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mairi Hunter
Director
Approved by the board on 28 July 2023
Hunters of Linlithgow Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings & tenant's improvements over 20 years
Plant and machinery 25% on reducing balance
Fixtures, fittings, tools and equipment 25% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 26 28
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 522,584 317,657 58,803 899,044
Additions - 21,580 13,319 34,899
Disposals (329,186) - - (329,186)
At 31 March 2023 193,398 339,237 72,122 604,757
Depreciation
At 1 April 2022 102,081 236,492 52,699 391,272
Charge for the year 9,670 25,694 4,857 40,221
On disposals (21,945) - - (21,945)
At 31 March 2023 89,806 262,186 57,556 409,548
Net book value
At 31 March 2023 103,592 77,051 14,566 195,209
At 31 March 2022 420,503 81,165 6,104 507,772
4 Debtors 2023 2022
£ £
Other debtors 3,844 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,952 274,666
Trade creditors 2,715 3,248
Taxation and social security costs 140,667 115,983
Other creditors 16,834 17,684
170,168 411,581
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 22,401 32,387
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans - 265,000
8 Other information
Hunters of Linlithgow Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
4 Mill Road Industrial Estate
Linlithgow
EH49 7SF
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