ANDREW GRAY (PERTH) LIMITED

Company Registration Number:
SC070556 (Scotland)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 1 March 2022

End date: 28 February 2023

ANDREW GRAY (PERTH) LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2023

Balance sheet
Additional notes
Balance sheet notes

ANDREW GRAY (PERTH) LIMITED

Balance sheet

As at 28 February 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 734,055 726,057
Total fixed assets: 734,055 726,057
Current assets
Stocks: 4 368,592 340,005
Debtors: 5 683,164 684,216
Cash at bank and in hand: 77,083 161,252
Total current assets: 1,128,839 1,185,473
Creditors: amounts falling due within one year: 6 ( 423,293 ) ( 432,348 )
Net current assets (liabilities): 705,546 753,125
Total assets less current liabilities: 1,439,601 1,479,182
Creditors: amounts falling due after more than one year: 7 ( 219,774 ) ( 297,664 )
Provision for liabilities: ( 117,850 ) ( 120,958 )
Total net assets (liabilities): 1,101,977 1,060,560
Capital and reserves
Called up share capital: 5,000 5,000
Profit and loss account: 1,096,977 1,055,560
Total Shareholders' funds: 1,101,977 1,060,560

The notes form part of these financial statements

ANDREW GRAY (PERTH) LIMITED

Balance sheet statements

For the year ending 28 February 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 18 August 2023
and signed on behalf of the board by:

Name: Mr David Taylor
Status: Director

The notes form part of these financial statements

ANDREW GRAY (PERTH) LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:Freehold land and buildings - 1% to 10% reducing balancePlant and machinery - 20% reducing balanceOffice equipment - 33% reducing balanceMotor vehicles - 25% reducing balance

    Valuation information and policy

    Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

ANDREW GRAY (PERTH) LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 16 14

ANDREW GRAY (PERTH) LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2022 106,521 272,860 1,101,233 1,480,614
Additions 65,650 157,115 222,765
Disposals ( 17,000 ) ( 17,000 )
Revaluations
Transfers
At 28 February 2023 106,521 321,510 1,258,348 1,686,379
Depreciation
At 1 March 2022 17,083 151,680 585,794 754,557
Charge for year 2,164 35,761 168,138 206,063
On disposals ( 8,296 ) ( 8,296 )
Other adjustments
At 28 February 2023 19,247 179,145 753,932 952,324
Net book value
At 28 February 2023 87,274 142,365 504,416 734,055
At 28 February 2022 89,438 121,180 515,439 726,057

ANDREW GRAY (PERTH) LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Stocks

2023 2022
£ £
Stocks 368,592 340,005
Total 368,592 340,005

ANDREW GRAY (PERTH) LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

5. Debtors

2023 2022
£ £
Trade debtors 144,507 165,241
Other debtors 538,657 518,975
Total 683,164 684,216

ANDREW GRAY (PERTH) LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 387
Amounts due under finance leases and hire purchase contracts 143,363 139,126
Trade creditors 41,959 55,776
Taxation and social security 25,493 26,034
Accruals and deferred income 5,839 3,328
Other creditors 206,639 207,697
Total 423,293 432,348

ANDREW GRAY (PERTH) LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

7. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Amounts due under finance leases and hire purchase contracts 219,774 297,664
Total 219,774 297,664

ANDREW GRAY (PERTH) LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

8. Loans to directors

Name of director receiving advance or credit:
Description of the transaction:
Directors' Loan Account
£
Balance at 28 February 2022 7,430
Advances or credits made: 95,751
Advances or credits repaid: 78,622
Balance at 28 February 2023 24,559

The directors' loan account will be repaid within 9 months of the year end.