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REGISTERED NUMBER: SC434868 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Thomas Brown & Sons Ltd

Thomas Brown & Sons Ltd (Registered number: SC434868)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Thomas Brown & Sons Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: R R Brown
Mrs J A Brown





REGISTERED OFFICE: St Dunstans House
High Street
Melrose
Roxburghshire
TD6 9RU





REGISTERED NUMBER: SC434868 (Scotland)





ACCOUNTANTS: Douglas Home & Co Ltd
Chartered Accountants
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Thomas Brown & Sons Ltd (Registered number: SC434868)

Statement of Financial Position
30 November 2023

30/11/23 30/11/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 212,149 245,010
212,149 245,010

CURRENT ASSETS
Inventories 6 63,720 44,700
Debtors 7 31,212 43,014
Cash at bank and in hand 175,365 190,473
270,297 278,187
CREDITORS
Amounts falling due within one year 8 152,015 147,369
NET CURRENT ASSETS 118,282 130,818
TOTAL ASSETS LESS CURRENT
LIABILITIES

330,431

375,828

CREDITORS
Amounts falling due after more than one
year

9

(85,531

)

(115,193

)

PROVISIONS FOR LIABILITIES (29,500 ) (43,500 )
NET ASSETS 215,400 217,135

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 214,900 216,635
SHAREHOLDERS' FUNDS 215,400 217,135

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

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

Thomas Brown & Sons Ltd (Registered number: SC434868)

Statement of Financial Position - continued
30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2024 and were signed on its behalf by:




R R Brown - Director



Mrs J A Brown - Director


Thomas Brown & Sons Ltd (Registered number: SC434868)

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

1. STATUTORY INFORMATION

Thomas Brown & Sons Ltd 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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 statement of financial position date.


Thomas Brown & Sons Ltd (Registered number: SC434868)

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

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 20,000
AMORTISATION
At 1 December 2022
and 30 November 2023 20,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

Thomas Brown & Sons Ltd (Registered number: SC434868)

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

5. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2022 51,313 263,559 314,872
Additions 29,425 - 29,425
At 30 November 2023 80,738 263,559 344,297
DEPRECIATION
At 1 December 2022 31,893 37,969 69,862
Charge for year 5,889 56,397 62,286
At 30 November 2023 37,782 94,366 132,148
NET BOOK VALUE
At 30 November 2023 42,956 169,193 212,149
At 30 November 2022 19,420 225,590 245,010

6. INVENTORIES
30/11/23 30/11/22
£    £   
Stocks 43,750 44,700
Work-in-progress 19,970 -
63,720 44,700

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Trade debtors 21,608 25,046
Other debtors - 8,168
Prepayments 9,604 9,800
31,212 43,014

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Other loans 4,859 6,844
Hire purchase contracts 29,662 34,107
Trade creditors 54,685 46,797
Tax 29,471 16,083
Social security and other taxes 3,898 2,349
VAT 4,755 6,780
Other creditors 10,808 8,228
Directors' current accounts 6,683 14,714
Accrued expenses 7,194 11,467
152,015 147,369

Thomas Brown & Sons Ltd (Registered number: SC434868)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/11/23 30/11/22
£    £   
Hire purchase contracts 85,531 115,193