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REGISTERED NUMBER: SC099085 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

CATHERINES OF PARTICK LIMITED

CATHERINES OF PARTICK LIMITED (REGISTERED NUMBER: SC099085)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CATHERINES OF PARTICK LIMITED

COMPANY INFORMATION
for the year ended 31 MAY 2023







DIRECTORS: Mrs G B Nicol
W W Nicol
Miss C B Nicol
M W Nicol





SECRETARY: Mrs G B Nicol





REGISTERED OFFICE: 106-114 Dumbarton Road
Glasgow
G11 6NY





REGISTERED NUMBER: SC099085 (Scotland)





ACCOUNTANTS: Thomas Barrie & Co LLP
Atlantic House
1a Cadogan Street
Glasgow
G2 6QE

CATHERINES OF PARTICK LIMITED (REGISTERED NUMBER: SC099085)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 636,741 654,280
636,741 654,280

CURRENT ASSETS
Stocks 400,939 301,620
Debtors 6 17,310 13,295
Cash at bank and in hand 826,918 872,875
1,245,167 1,187,790
CREDITORS
Amounts falling due within one year 7 (463,064 ) (750,051 )
NET CURRENT ASSETS 782,103 437,739
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,418,844

1,092,019

PROVISIONS FOR LIABILITIES (2,925 ) (7,231 )
NET ASSETS 1,415,919 1,084,788

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 1,365,919 1,034,788
SHAREHOLDERS' FUNDS 1,415,919 1,084,788

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

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

CATHERINES OF PARTICK LIMITED (REGISTERED NUMBER: SC099085)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 15 February 2024 and were signed on its behalf by:





Mrs G B Nicol - Director


CATHERINES OF PARTICK LIMITED (REGISTERED NUMBER: SC099085)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 MAY 2023

1. STATUTORY INFORMATION

Catherines of Partick Ltd, is a private company, limited by shares, registered in Scotland, registration number SC099085. The registered office is 106-114 Dumbarton Road, Glasgow, G11 6NY.

The principal activity of the company is ladies fashion retailers.

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.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates
In preparing these financial statements, the directors are required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements:

Plant and equipment
The estimates and assumptions made to determine asset lives require judgements to be made as regards useful lives and residual values. The useful lives and residual values of the company's financial assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on management experience with similar assets.

Stock
Stock is valued at the lower of cost and net realisable value. Where items are valued at net realisable value, the directors have used their judgement based on knowledge gained over many years to arrive at appropriate values.

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

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1988, has been amortised evenly over its estimated useful life and has a carrying value in the accounts of £Nil.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

CATHERINES OF PARTICK LIMITED (REGISTERED NUMBER: SC099085)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MAY 2023

2. ACCOUNTING POLICIES - continued

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, 10% on cost, 5% on cost and Straight line over 3 years

The carrying values of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying values may not be recoverable.

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances, including bank overdrafts that are payable on demand and form an integral part of the company's cash management.

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.

Provisions
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

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.

Short-term employee benefits
Short term employee benefits, including holiday pay, are expensed as the related service is provided. A liability is recognised for the amount expected to be paid if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably if material.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 19 ) .

CATHERINES OF PARTICK LIMITED (REGISTERED NUMBER: SC099085)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MAY 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 40,000
AMORTISATION
At 1 June 2022
and 31 May 2023 40,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022 620,436 117,265 737,701
Additions - 1,541 1,541
At 31 May 2023 620,436 118,806 739,242
DEPRECIATION
At 1 June 2022 - 83,421 83,421
Charge for year - 19,080 19,080
At 31 May 2023 - 102,501 102,501
NET BOOK VALUE
At 31 May 2023 620,436 16,305 636,741
At 31 May 2022 620,436 33,844 654,280

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 17,310 13,295

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 52,139 23,726
Taxation and social security 293,633 408,036
Other creditors 117,292 318,289
463,064 750,051