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REGISTERED NUMBER: SC569903 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Thomas Burns & Son Limited

Thomas Burns & Son Limited (Registered number: SC569903)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Thomas Burns & Son Limited (Registered number: SC569903)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 6,593 8,242
Tangible assets 5 13,044 16,485
19,637 24,727

CURRENT ASSETS
Stocks 6,250 5,000
Debtors 6 2,620 1,535
Cash at bank and in hand 258,653 254,694
267,523 261,229
CREDITORS
Amounts falling due within one year 7 (59,521 ) (83,565 )
NET CURRENT ASSETS 208,002 177,664
TOTAL ASSETS LESS CURRENT
LIABILITIES

227,639

202,391

PROVISIONS FOR LIABILITIES (3,101 ) (3,132 )
NET ASSETS 224,538 199,259

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 224,534 199,255
224,538 199,259

Thomas Burns & Son Limited (Registered number: SC569903)

Balance Sheet - continued
30 June 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 12 January 2024 and were signed on its behalf by:





J Ross - Director


Thomas Burns & Son Limited (Registered number: SC569903)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Thomas Burns & Son Limited is a private company, limited by shares, domiciled in Scotland, registration number SC569903. The registered office is 10 Market Street, Bo'ness, United Kingdom, EH51 9AD.

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.

Turnover
Turnover represents net invoiced sales of goods in respect of meat product retail, excluding value added tax. Sales are recognised at the point at which the goods are delivered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 10% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

Thomas Burns & Son Limited (Registered number: SC569903)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 16,484
AMORTISATION
At 1 July 2022 8,242
Charge for year 1,649
At 30 June 2023 9,891
NET BOOK VALUE
At 30 June 2023 6,593
At 30 June 2022 8,242

Thomas Burns & Son Limited (Registered number: SC569903)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 41,018
Additions 3,410
At 30 June 2023 44,428
DEPRECIATION
At 1 July 2022 24,533
Charge for year 6,851
At 30 June 2023 31,384
NET BOOK VALUE
At 30 June 2023 13,044
At 30 June 2022 16,485

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other debtors 2,620 1,535

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 5,638 22,544
Taxation and social security 30,548 26,816
Other creditors 23,335 34,205
59,521 83,565