IAN R RALSTON LTD

Company Registration Number:
SC591579 (Scotland)

Unaudited statutory accounts for the year ended 31 May 2023

Period of accounts

Start date: 1 June 2022

End date: 31 May 2023

IAN R RALSTON LTD

Contents of the Financial Statements

for the Period Ended 31 May 2023

Balance sheet
Additional notes
Balance sheet notes

IAN R RALSTON LTD

Balance sheet

As at 31 May 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 496,679 478,886
Total fixed assets: 496,679 478,886
Current assets
Stocks: 4 24,874 27,031
Debtors: 5 195,065 100,597
Cash at bank and in hand: 55,764 107,704
Total current assets: 275,703 235,332
Creditors: amounts falling due within one year: 6 ( 147,345 ) ( 115,909 )
Net current assets (liabilities): 128,358 119,423
Total assets less current liabilities: 625,037 598,309
Creditors: amounts falling due after more than one year: 7 ( 151,212 ) ( 168,551 )
Total net assets (liabilities): 473,825 429,758
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 473,725 429,658
Total Shareholders' funds: 473,825 429,758

The notes form part of these financial statements

IAN R RALSTON LTD

Balance sheet statements

For the year ending 31 May 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 29 February 2024
and signed on behalf of the board by:

Name: Ian Ralston
Status: Director

The notes form part of these financial statements

IAN R RALSTON LTD

Notes to the Financial Statements

for the Period Ended 31 May 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:Plant & machinery - 20% reducing balanceMotor vehicles - 25% reducing balanceFixtures & fittings - 15% reducing balance

    Valuation information and policy

    Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. 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.

IAN R RALSTON LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 3

IAN R RALSTON LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 June 2022 675,542 43,304 718,846
Additions 136,824 4,698 141,522
Disposals
Revaluations
Transfers
At 31 May 2023 812,366 48,002 860,368
Depreciation
At 1 June 2022 226,253 13,707 239,960
Charge for year 115,155 8,574 123,729
On disposals
Other adjustments
At 31 May 2023 341,408 22,281 363,689
Net book value
At 31 May 2023 470,958 25,721 496,679
At 31 May 2022 449,289 29,597 478,886

IAN R RALSTON LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Stocks

2023 2022
£ £
Stocks 24,874 27,031
Total 24,874 27,031

IAN R RALSTON LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

5. Debtors

2023 2022
£ £
Trade debtors 177,502 83,032
Other debtors 17,563 17,565
Total 195,065 100,597

IAN R RALSTON LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 6,210 6,210
Amounts due under finance leases and hire purchase contracts 44,809 36,982
Trade creditors 42,550 42,275
Taxation and social security 33,015 21,490
Accruals and deferred income 2,850 1,250
Other creditors 17,911 7,702
Total 147,345 115,909

IAN R RALSTON LTD

Notes to the Financial Statements

for the Period Ended 31 May 2023

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

2023 2022
£ £
Bank loans and overdrafts 37,284 42,313
Amounts due under finance leases and hire purchase contracts 113,928 126,238
Total 151,212 168,551