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REGISTERED NUMBER: SC593527 (Scotland)




















STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

BEATTIE FRC LIMITED

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14

Reconciliation of Equity 19

Reconciliation of Profit 21


BEATTIE FRC LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTOR: W Beattie



REGISTERED OFFICE: Beattie Frc Limited
Bo'Ness Road
Grangemouth
Stirlingshire
FK3 9XF



REGISTERED NUMBER: SC593527 (Scotland)



AUDITORS: Curle & Co
Chartered Accountants & Registered Auditor
22 Backbrae Street
Kilsyth
G65 0NH



BANKERS: The Royal Bank of Scotland
36 St Andrew Square
Edinburgh
EH2 2YB



SOLICITORS: Marshall Wilson
3 La Porte Precinct
Grangemouth
FK3 8AZ

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

STRATEGIC REPORT
for the Year Ended 31 March 2023

The board of Directors have pleasure in presenting their strategic report for the year ended 31st March 2023.

Principal Activities

Beattie FRC Limited is a civil engineering firm specialising in Formwork; Rebar and Concrete works.
The firm also offers a number of other construction related solutions including groundworks and scaffolding etc.

Business Review

Beattie FRC Limited saw a 33.3% increase in net profits (to £2,976,230 (£2,233,091 in 2022)) despite turnover falling 6.7% (to £17,944,938 (£19,237,048 in 2022)) from the preceding year. Operating profit also swelled by £880,943 to £3,612,819 from £2,731,876 in 2022.

Despite a decrease in turnover, the growth in profitability from 2022 is attributable to the efficiencies gained from experience on some key major projects i.e. the Aberdeen Harbour Expansion Project and the Edinburgh Trams Extension.

Whilst the firm remains focussed on controlling overheads, direct costs particularly labour costs, have proven difficult to manage due to the shortages of skilled operatives in the labour market.

Current assets have risen by 17.3% principally due to the rise in cash at bank whilst trade debtors remain in line with previous years.

The aforementioned growth in current assets have been offset by a 21.6% climb in current liabilities.

This increase is fully attributable to retained profits declared as dividends and due and payable to Beattie FRC Limited's holding company.

There are no liquidity concerns whatsoever with the firm maintaining a high and stable cash at bank balance. The company also has a negligible history of experiencing bad debts.

Key Performance Indicators: 2023 2022

Turnover £17,944,938 £19,237,048

Gross Profit Margin 35.37% 34.70%

Net Profit Margin 16.59% 11.61%

Quarterly management accounts are prepared to gauge the company's success. Micro analysis of individual projects handled by the firm is also administered to ensure margins are maintained and projects are viable and contributing to the firm's overall prosperity.

Beattie FRC is a family business and the owners adopt a very hands approach. In this way, deep rooted relationships have been forged with a great many customers who not only value the capability and professionalism that is offered, but also the personal friendships. Customer satisfaction is typified by these long lasting relationships and the repeat business that ensues.

Strategy and Outlook

Beattie FRC Limited aims to remain at the forefront of the UK civil engineering industry providing innovative and safe construction solutions. The firm also endeavours to continue to build new customer relations whilst maintaining existing ones. Beattie FRC Limited has always been working on a variety of projects ranging in value from a few thousand to several million pounds. The last few years has seen Beattie FRC Limited engaged on enormous projects which are nearing completion. This allows time to be allocated to the continued development of the evolving Groundworks branch of the business. As it stands, Beattie FRC Limited continues to win tenders and looks to have full books for the remainder of 2024 and well into 2025.



BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

STRATEGIC REPORT
for the Year Ended 31 March 2023

Risk and Uncertainties

Margin Erosion

As intimated previously, the shortages of skilled operatives in the labour market is of major concern. Through continued training of workers, Beattie FRC Limited has managed to maintain a capable workforce despite such shortages and industry typical high labour turnover. Having excellent customer relations has permitted Beattie FRC Limited to navigate these difficulties by negotiating the passing of these additional costs to our customers allowing us to maintain margins.

Supply Chain

Again, labour market shortages (due to Brexit / construction being a less popular career path) have been addressed through a combination of labour rate increases; training and budgetary discussions with clients.

Competition

The construction industry is notoriously flooded with transient firms pricing works at unsustainable levels. By working in tandem with main contractors, Beattie FRC Limited manages to establish prices and maintain margins safe in the knowledge that delivery will be made to the satisfaction of all parties.
Industry Conditions

Much of Beattie FRC Limited's work is on government projects meaning that (for the most part) whilst the business is not subject to cyclical / seasonal trade, it is at the mercy of government policy. Beattie FRC Limited continues the development of new services whilst building relationships and a client base in the private sector.

ON BEHALF OF THE BOARD:





W Beattie - Director


2 February 2024

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

REPORT OF THE DIRECTOR
for the Year Ended 31 March 2023

The director presents his report with the financial statements of the company for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the construction of roads and motorways.

DIVIDENDS
An interim dividend of £10,000 per share was paid on 31 March 2023. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2023 will be £ 3,000,000 .

DIRECTOR
W Beattie held office during the whole of the period from 1 April 2022 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Curle & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





W Beattie - Director


2 February 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BEATTIE FRC LIMITED

Opinion
We have audited the financial statements of Beattie Frc Limited (the 'company') for the year ended 31 March 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BEATTIE FRC LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The Company is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to general legislation and breaches of health & safety regulation. We considered the extent to which non-compliance with these laws and regulations might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statement such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting journal entries to manipulate revenue and profit. Audit procedures performed by the engagement team included:

- discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations including fraud;
- enquiring of management as to actual and potential litigation and claims
- Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud and non-compliance with laws and regulations;
- challenging assumptions and judgements made by management, in their significant accounting estimates, particularly in relation to the value of accrued income and expenses
- identifying and testing journal entries, in particular journal entries posted with unusual account combinations, backdated journals and journals with unusual descriptions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BEATTIE FRC LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Gareth G Curle (Senior Statutory Auditor)
for and on behalf of Curle & Co
Chartered Accountants & Registered Auditor
22 Backbrae Street
Kilsyth
G65 0NH

2 February 2024

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

INCOME STATEMENT
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   

TURNOVER 3 17,944,938 19,237,048

Cost of sales 11,597,759 12,562,315
GROSS PROFIT 6,347,179 6,674,733

Administrative expenses 2,734,360 3,942,857
OPERATING PROFIT 5 3,612,819 2,731,876

Interest receivable and similar income 2,974 -
PROFIT BEFORE TAXATION 3,615,793 2,731,876

Tax on profit 6 639,563 498,785
PROFIT FOR THE FINANCIAL YEAR 2,976,230 2,233,091

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

OTHER COMPREHENSIVE INCOME
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   

PROFIT FOR THE YEAR 2,976,230 2,233,091


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,976,230

2,233,091

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

BALANCE SHEET
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 293,488 94,879

CURRENT ASSETS
Debtors 9 2,968,118 3,066,838
Cash at bank 1,941,589 1,119,998
4,909,707 4,186,836
CREDITORS
Amounts falling due within one year 10 5,110,925 4,203,411
NET CURRENT LIABILITIES (201,218 ) (16,575 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,270

78,304

PROVISIONS FOR LIABILITIES 13 55,763 18,027
NET ASSETS 36,507 60,277

CAPITAL AND RESERVES
Called up share capital 14 300 300
Retained earnings 15 36,207 59,977
SHAREHOLDERS' FUNDS 36,507 60,277

The financial statements were approved by the director and authorised for issue on 2 February 2024 and were signed by:





W Beattie - Director


BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

STATEMENT OF CHANGES IN EQUITY
for the Year Ended 31 March 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 April 2021 300 26,886 27,186

Changes in equity
Dividends - (2,200,000 ) (2,200,000 )
Total comprehensive income - 2,233,091 2,233,091
Balance at 31 March 2022 300 59,977 60,277

Changes in equity
Dividends - (3,000,000 ) (3,000,000 )
Total comprehensive income - 2,976,230 2,976,230
Balance at 31 March 2023 300 36,207 36,507

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

CASH FLOW STATEMENT
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,751,800 3,495,644
Tax paid (601,827 ) (496,567 )
Net cash from operating activities 4,149,973 2,999,077

Cash flows from investing activities
Purchase of tangible fixed assets (319,307 ) (52,546 )
Interest received 2,974 -
Net cash from investing activities (316,333 ) (52,546 )

Cash flows from financing activities
Amount withdrawn by directors (12,049 ) 42,942
Equity dividends paid (3,000,000 ) (2,200,000 )
Net cash from financing activities (3,012,049 ) (2,157,058 )

Increase in cash and cash equivalents 821,591 789,473
Cash and cash equivalents at beginning of
year

2

1,119,998

330,525

Cash and cash equivalents at end of year 2 1,941,589 1,119,998

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

NOTES TO THE CASH FLOW STATEMENT
for the Year Ended 31 March 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.3.23 31.3.22
£    £   
Profit before taxation 3,615,793 2,731,876
Depreciation charges 120,698 40,872
Finance income (2,974 ) -
3,733,517 2,772,748
Decrease/(increase) in trade and other debtors 98,720 (1,381,075 )
Increase in trade and other creditors 919,563 2,103,971
Cash generated from operations 4,751,800 3,495,644

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 1,941,589 1,119,998
Year ended 31 March 2022
31.3.22 1.4.21
£    £   
Cash and cash equivalents 1,119,998 330,525


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.4.22 Cash flow At 31.3.23
£    £    £   
Net cash
Cash at bank 1,119,998 821,591 1,941,589
1,119,998 821,591 1,941,589
Debt
Debts falling due within 1 year (2,200,000 ) (800,000 ) (3,000,000 )
(2,200,000 ) (800,000 ) (3,000,000 )
Total (1,080,002 ) 21,591 (1,058,411 )

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Beattie Frc 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

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

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.

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.

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

Turnover is recognised to the extent that it is probable that the economic benefit will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must be met before it is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

4. EMPLOYEES AND DIRECTORS
31.3.23 31.3.22
£    £   
Wages and salaries 499,949 504,700
Other pension costs 111,548 197,548
611,497 702,248

The average number of employees during the year was as follows:
31.3.23 31.3.22

Management 2 2
Finance 1 1
Administration 2 2
5 5

31.3.23 31.3.22
£    £   
Director's remuneration 91,456 90,938

5. OPERATING PROFIT

The operating profit is stated after charging:

31.3.23 31.3.22
£    £   
Hire of plant and machinery 888,683 2,643,126
Depreciation - owned assets 120,698 40,872
Auditors' remuneration 6,500 -

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.3.23 31.3.22
£    £   
Current tax:
UK corporation tax 635,615 496,567
Over/under provision of tax (33,788 ) -
Total current tax 601,827 496,567

Deferred tax 37,736 2,218
Tax on profit 639,563 498,785

7. DIVIDENDS
31.3.23 31.3.22
£    £   
Ordinary shares of 1.00 each
Interim 3,000,000 2,200,000

8. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 - 163,486 163,486
Additions 210,565 108,742 319,307
At 31 March 2023 210,565 272,228 482,793
DEPRECIATION
At 1 April 2022 - 68,607 68,607
Charge for year 52,641 68,057 120,698
At 31 March 2023 52,641 136,664 189,305
NET BOOK VALUE
At 31 March 2023 157,924 135,564 293,488
At 31 March 2022 - 94,879 94,879

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 2,252,566 2,086,239
Other debtors 109,200 61,150
Prepayments and accrued income 606,352 919,449
2,968,118 3,066,838

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other loans (see note 11) 3,000,000 2,200,000
Trade creditors 133,693 172,437
Tax 382,727 496,629
Social security and other taxes 247,161 267,711
VAT 424,103 170,289
Other creditors 5,594 4,506
Directors' current accounts 30,893 42,942
Accrued expenses 886,754 848,897
5,110,925 4,203,411

11. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due within one year or on demand:
Other loans 3,000,000 2,200,000

12. SECURED DEBTS

The Royal Bank of Scotland Plc hold a floating charge dated 5 October 2020 over all the property or undertaking of the company covering the company's credit card facility.

13. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 55,763 18,027

Deferred
tax
£   
Balance at 1 April 2022 18,027
Provided during year 37,736
Balance at 31 March 2023 55,763

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
300 Ordinary 1.00 300 300

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

15. RESERVES
Retained
earnings
£   

At 1 April 2022 59,977
Profit for the year 2,976,230
Dividends (3,000,000 )
At 31 March 2023 36,207

16. INTERCOMPANY LOAN

The intercompany loan balance at the year end was £3,000,000 (PY £2,200,000) owing to Beattie Holdings Limited which has been included in other loans.

17. PARENT COMPANY

The smallest group in which the company results are consolidated are headed by Beattie Holdings (Scotland) Limited, a company registered in Scotland. The registered address of Beattie Holdings (Scotland) Limited is Former Masterton Buildings, Bo'ness Road, Grangemouth, FK3 9XF.

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

RECONCILIATION OF EQUITY
1 April 2021
(DATE OF TRANSITION TO FRS 102)

Effect of
UK transition
GAAP to FRS 102 FRS 102
£    £    £   
FIXED ASSETS
Tangible assets - 83,205 83,205
CURRENT ASSETS
Debtors 398,109 1,287,654 1,685,763
Cash at bank 284,171 46,354 330,525
682,280 1,334,008 2,016,288
CREDITORS
Amounts falling due within one year (675,545 ) (1,380,953 ) (2,056,498 )
NET CURRENT ASSETS/(LIABILITIES) 6,735 (46,945 ) (40,210 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,735

36,260

42,995

PROVISIONS FOR LIABILITIES - (15,809 ) (15,809 )
NET ASSETS 6,735 20,451 27,186
CAPITAL AND RESERVES
Called up share capital 300 - 300
Retained earnings 6,435 20,451 26,886
SHAREHOLDERS' FUNDS 6,735 20,451 27,186

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

RECONCILIATION OF EQUITY - continued
31 March 2022

Effect of
UK transition
GAAP to FRS 102 FRS 102
£    £    £   
FIXED ASSETS
Tangible assets 83,205 11,674 94,879
CURRENT ASSETS
Debtors 1,685,763 1,381,075 3,066,838
Cash at bank 330,525 789,473 1,119,998
2,016,288 2,170,548 4,186,836
CREDITORS
Amounts falling due within one year (2,056,498 ) (2,146,913 ) (4,203,411 )
NET CURRENT LIABILITIES (40,210 ) 23,635 (16,575 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,995

35,309

78,304

PROVISIONS FOR LIABILITIES (15,809 ) (2,218 ) (18,027 )
NET ASSETS 27,186 33,091 60,277
CAPITAL AND RESERVES
Called up share capital 300 - 300
Retained earnings 26,886 33,091 59,977
SHAREHOLDERS' FUNDS 27,186 33,091 60,277

BEATTIE FRC LIMITED (REGISTERED NUMBER: SC593527)

RECONCILIATION OF PROFIT
for the Year Ended 31 March 2022

Effect of
UK transition
GAAP to FRS 102 FRS 102
£    £    £   
TURNOVER 4,914,084 14,322,964 19,237,048

Cost of sales (3,982,496 ) (8,579,819 ) (12,562,315 )
GROSS PROFIT 931,588 5,743,145 6,674,733
Administrative expenses (545,550 ) (3,397,307 ) (3,942,857 )
OPERATING PROFIT 386,038 2,345,838 2,731,876
and
PROFIT BEFORE TAXATION 386,038 2,345,838 2,731,876
Tax on profit (55,587 ) (443,198 ) (498,785 )
PROFIT FOR THE FINANCIAL YEAR 330,451 1,902,640 2,233,091