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ANDREW COWAN JOINERY SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






ANDREW COWAN JOINERY SERVICES LIMITED (REGISTERED NUMBER: SC331645)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

ANDREW COWAN JOINERY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr A M Cowan
Mrs S Cowan





REGISTERED OFFICE: 35 School Road
Symington
Biggar
ML12 6LT





REGISTERED NUMBER: SC331645 (Scotland)





ACCOUNTANTS: JRW
Riverside House
Ladhope Vale
Galashiels
Selkirkshire
TD1 1BT

ANDREW COWAN JOINERY SERVICES LIMITED (REGISTERED NUMBER: SC331645)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,740 33,344

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 14,718 16,040
Cash at bank 21,616 5,075
37,334 22,115
CREDITORS
Amounts falling due within one year 38,983 24,371
NET CURRENT LIABILITIES (1,649 ) (2,256 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,091

31,088

PROVISIONS FOR LIABILITIES 5,270 7,974
NET ASSETS 20,821 23,114

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5 20,721 23,014
20,821 23,114

ANDREW COWAN JOINERY SERVICES LIMITED (REGISTERED NUMBER: SC331645)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31ST DECEMBER 2023


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

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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31st December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th March 2024 and were signed on its behalf by:





Mr A M Cowan - Director


ANDREW COWAN JOINERY SERVICES LIMITED (REGISTERED NUMBER: SC331645)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Andrew Cowan Joinery Services 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" 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
The company provides joinery services. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

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

When the outcome of a transaction involving the rendering of services can be reliably estimated revenue form the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable

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 - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 40% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

ANDREW COWAN JOINERY SERVICES LIMITED (REGISTERED NUMBER: SC331645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price.
At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Income Statement.
Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled.

Financial Liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities as payment is due within one year or less. If not the are presented as non-current liabilities.
Financial liabilities are decolonised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

ANDREW COWAN JOINERY SERVICES LIMITED (REGISTERED NUMBER: SC331645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st January 2023 55,365
Additions 1,085
At 31st December 2023 56,450
DEPRECIATION
At 1st January 2023 22,021
Charge for year 6,689
At 31st December 2023 28,710
NET BOOK VALUE
At 31st December 2023 27,740
At 31st December 2022 33,344

5. RESERVES
Retained
earnings
£   

At 1st January 2023 23,014
Profit for the year 27,707
Dividends (30,000 )
At 31st December 2023 20,721

6. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The amount of unpaid contributions at the balance sheet date amounted to £42 (2022 - £78) and are included in other creditors.

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors' loan accounts were not in debit during the period.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ANDREW COWAN JOINERY SERVICES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Andrew Cowan Joinery Services Limited for the year ended 31st December 2023 which comprise the Statement of Income and Retained Earnings, Abridged Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Andrew Cowan Joinery Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Andrew Cowan Joinery Services Limited and state those matters that we have agreed to state to the Board of Directors of Andrew Cowan Joinery Services Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Andrew Cowan Joinery Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Andrew Cowan Joinery Services Limited. You consider that Andrew Cowan Joinery Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Andrew Cowan Joinery Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JRW
Riverside House
Ladhope Vale
Galashiels
Selkirkshire
TD1 1BT


20th March 2024