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REGISTERED NUMBER: SC193788 (Scotland)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

PATTERSONS OF ABERDEEN LIMITED

PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

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










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8

Chartered Accountants' Report 9

PATTERSONS OF ABERDEEN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mr S J C Patterson
Mrs S Patterson
Mr S J C Patterson





REGISTERED OFFICE: 19-25 Thistle Street
ABERDEEN
AB10 1UY





REGISTERED NUMBER: SC193788 (Scotland)





ACCOUNTANTS: Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL

PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 399,807 398,515
Investments 6 22,818 22,217
Investment property 7 400,000 400,000
822,625 820,732

CURRENT ASSETS
Stocks 189,146 143,608
Debtors 8 4,866 4,766
Cash at bank and in hand 611,532 648,852
805,544 797,226
CREDITORS
Amounts falling due within one year 9 100,256 145,315
NET CURRENT ASSETS 705,288 651,911
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,527,913

1,472,643

CAPITAL AND RESERVES
Called up share capital 4 4
Revaluation reserve 10 25,280 25,280
Fair value reserve 10 (299,871 ) (300,472 )
Retained earnings 1,802,500 1,747,831
SHAREHOLDERS' FUNDS 1,527,913 1,472,643

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

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

PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

BALANCE SHEET - continued
31 JANUARY 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 18 October 2023 and were signed on its behalf by:




Mr S J C Patterson - Director



Mrs S Patterson - Director


PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

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


1. STATUTORY INFORMATION

Pattersons Of Aberdeen 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.

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

Turnover is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of five years.

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.
Plant and machinery etc - 25% on cost

Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided (where material) on these gains at the rate expected to apply when the property is sold.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

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


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 41,500
AMORTISATION
At 1 February 2022
and 31 January 2023 41,500
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 February 2022 250,000 229,639 479,639
Additions - 2,221 2,221
At 31 January 2023 250,000 231,860 481,860
DEPRECIATION
At 1 February 2022 - 81,124 81,124
Charge for year - 929 929
At 31 January 2023 - 82,053 82,053
NET BOOK VALUE
At 31 January 2023 250,000 149,807 399,807
At 31 January 2022 250,000 148,515 398,515

Cost or valuation at 31 January 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2005 25,280 - 25,280
Cost 224,720 231,860 456,580
250,000 231,860 481,860

PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

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


5. TANGIBLE FIXED ASSETS - continued

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

2023 2022
£    £   
Cost 224,720 224,720

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 February 2022 22,217
Revaluations 601
At 31 January 2023 22,818
NET BOOK VALUE
At 31 January 2023 22,818
At 31 January 2022 22,217

Cost or valuation at 31 January 2023 is represented by:

Other
investments
£   
Valuation in 2014 (141,254 )
Valuation in 2015 (4,527 )
Valuation in 2016 (2,911 )
Valuation in 2017 (1,417 )
Valuation in 2018 2,287
Valuation in 2019 (5,116 )
Valuation in 2020 (1,569 )
Valuation in 2021 (9,138 )
Valuation in 2022 7,820
Valuation in 2023 601
Cost 178,042
22,818

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 400,000
NET BOOK VALUE
At 31 January 2023 400,000
At 31 January 2022 400,000

PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

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


7. INVESTMENT PROPERTY - continued

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2015 (100,000 )
Valuation in 2021 (44,646 )
Cost 544,646
400,000

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

2023 2022
£    £   
Cost 544,646 544,646

Investment property was valued on an open market basis on 31 January 2023 by the directors .

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 822 2,855
Other debtors 4,044 1,911
4,866 4,766

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 24,468 6,741
Taxation and social security 60,946 56,240
Other creditors 14,842 82,334
100,256 145,315

10. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 February 2022 25,280 (300,472 ) (275,192 )
Transfer to retained earnings - 601 601

At 31 January 2023 25,280 (299,871 ) (274,591 )

11. PENSION COMMITMENTS

The company operates a defined contribution scheme. Amounts outstanding at the year end relating to the defined contribution pension scheme totalled £412 (2022: £320) and are included within trade creditors.

PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

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


12. RELATED PARTY DISCLOSURES

Details of directors loan account transactions and the year end balance are as follows:
20232022
£   £   

Amount due to directors at start of year68,75257,424
Received from directors during the year-11,328
Paid to directors during the year(67,938)-
Amount due to directors at end of year81468,752

The loan is interest free and there are no fixed terms of repayment.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PATTERSONS OF ABERDEEN 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 Pattersons Of Aberdeen Limited for the year ended 31 January 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Pattersons Of Aberdeen 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 Pattersons Of Aberdeen Limited and state those matters that we have agreed to state to the Board of Directors of Pattersons Of Aberdeen 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 Pattersons Of Aberdeen 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 Pattersons Of Aberdeen Limited. You consider that Pattersons Of Aberdeen 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 Pattersons Of Aberdeen 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.






Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL


18 October 2023