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REGISTERED NUMBER: SC080612 (Scotland)
















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Alex Bicket Limited

Alex Bicket Limited (Registered number: SC080612)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Alex Bicket Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Alexander Mitchell Rennie Bicket





SECRETARY: Alexander Mitchell Rennie Bicket





REGISTERED OFFICE: Redwells Farm
Kilwinning
Ayrshire
KA13 7RW





REGISTERED NUMBER: SC080612 (Scotland)






Alex Bicket Limited (Registered number: SC080612)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,047,620 1,039,309
Investments 5 1,681 667
Investment property 6 - 45,000
1,049,301 1,084,976

CURRENT ASSETS
Stocks 149,227 159,077
Debtors 7 107,685 15,186
Cash at bank and in hand 9,901,361 9,455,711
10,158,273 9,629,974
CREDITORS
Amounts falling due within one year 8 216,380 187,533
NET CURRENT ASSETS 9,941,893 9,442,441
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,991,194

10,527,417

PROVISIONS FOR LIABILITIES 35,099 25,747
NET ASSETS 10,956,095 10,501,670

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Other non distributable
reserve - 1,981
Retained earnings 10,946,095 10,489,689
SHAREHOLDERS' FUNDS 10,956,095 10,501,670

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 director acknowledges his 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.

Alex Bicket Limited (Registered number: SC080612)

Balance Sheet - 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 Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 February 2024 and were signed by:





Alexander Mitchell Rennie Bicket - Director


Alex Bicket Limited (Registered number: SC080612)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Alex Bicket 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going Concern
The company has substantial financial resources and continues to trade well. With this in mind the director is of the view that the accounts can be prepared on a going concern basis.

Turnover/revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the Company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The Company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the Company's activities are met.

Depreciation
Depreciation is provided to write off the cost or revaluation, less estimated residual values, of all tangible fixed asset, except for investment properties and freehold land, evenly over their expected useful lives. It is calculated at the following rates:-

Agricultural buildings5% straight line
Freehold heritable property2% straight line
Freehold landNo depreciation is provided
Plant, machinery and tractors25% reducing balance
Motor vehicles25% reducing balance
Office equipment33% straight line

Investment property
Investment properties are included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

FRS 102 requires the company to provide for deferred tax on the timing difference arising on the date of transition, which represents the full revaluation gain less indexed cost. As the balance on the revaluation reserve at the date of transition is wholly immaterial it has not been considered necessary to make such an adjustment.

Stocks
Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

Alex Bicket Limited (Registered number: SC080612)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.

Pension costs and other post-retirement benefits
The company operates a money purchase pension scheme in the form of employee personal pension plans. The contracts are between the individual and the pension provider and all funds are held externally by a third party pension provider. Pension contributions are charged to the profit and loss account in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

Alex Bicket Limited (Registered number: SC080612)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant,
Freehold machinery
heritable Agricultural and
properties buildings equipment
£    £    £   
COST
At 1 June 2022 932,226 154,460 608,756
Additions - - 16,720
Disposals - - -
At 31 May 2023 932,226 154,460 625,476
DEPRECIATION
At 1 June 2022 41,400 141,189 484,497
Charge for year 1,800 931 35,244
Eliminated on disposal - - -
At 31 May 2023 43,200 142,120 519,741
NET BOOK VALUE
At 31 May 2023 889,026 12,340 105,735
At 31 May 2022 890,826 13,271 124,259

Alex Bicket Limited (Registered number: SC080612)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2022 81,245 1,814 1,778,501
Additions 37,554 - 54,274
Disposals (21,715 ) - (21,715 )
At 31 May 2023 97,084 1,814 1,811,060
DEPRECIATION
At 1 June 2022 71,041 1,065 739,192
Charge for year 4,956 133 43,064
Eliminated on disposal (18,816 ) - (18,816 )
At 31 May 2023 57,181 1,198 763,440
NET BOOK VALUE
At 31 May 2023 39,903 616 1,047,620
At 31 May 2022 10,204 749 1,039,309

Included within freehold heritable properties is land of £842,226 which is not depreciated.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2022 667
Additions 1,014
At 31 May 2023 1,681
NET BOOK VALUE
At 31 May 2023 1,681
At 31 May 2022 667

This represents an investment in the share capital of a trading co-operative.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 45,000
Disposals (45,000 )
At 31 May 2023 -
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 45,000

Alex Bicket Limited (Registered number: SC080612)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. INVESTMENT PROPERTY - continued

The director considers that the cost of the investment property plus capital improvements currently reflects the current fair value.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,551 1,718
Other debtors 94,134 13,468
107,685 15,186

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 27,686 14,217
Taxation and social security 121,192 79,060
Other creditors 67,502 94,256
216,380 187,533

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The balance on the director's loan account is interest free and repayable on demand.

10. RELATED PARTY DISCLOSURES

The company paid a grazing charge at market value to the director for the use from time to time of land in his ownership. This amounted to £10,000 (2022: £10,000).

During the year services of £46,080 (2022: £48,776) were provided to the company at market value from a business under the control of a family member.

11. CONTROLLING PARTY

The director is in control of the company by virtue of his and his late wife's entire ownership of the issued share capital.