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REGISTERED NUMBER: SC448966 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

H & M Ferguson Ltd

H & M Ferguson Ltd (Registered number: SC448966)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


H & M Ferguson Ltd (Registered number: SC448966)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,232,011 1,257,186

CURRENT ASSETS
Stocks 40,000 55,585
Debtors 5 253,650 212,996
Cash at bank and in hand 125,725 43,285
419,375 311,866
CREDITORS
Amounts falling due within one year 6 (585,381 ) (556,452 )
NET CURRENT LIABILITIES (166,006 ) (244,586 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,066,005

1,012,600

CREDITORS
Amounts falling due after more than one year 7 (276,393 ) (325,836 )

PROVISIONS FOR LIABILITIES (288,903 ) (218,587 )
NET ASSETS 500,709 468,177

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 500,705 468,173
SHAREHOLDERS' FUNDS 500,709 468,177

H & M Ferguson Ltd (Registered number: SC448966)

Balance Sheet - continued
30 April 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 28 February 2024 and were signed on its behalf by:





Mr Brian Alexander Ferguson - Director


H & M Ferguson Ltd (Registered number: SC448966)

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

1. STATUTORY INFORMATION

H & M Ferguson Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC448966. The registered office is West Foulshiels Farm, Bathgate, EH47 9AA.

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 and services in respect of coach hires, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance, 15% on reducing balance and not provided

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

H & M Ferguson Ltd (Registered number: SC448966)

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

2. ACCOUNTING POLICIES - continued

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 61 (2022 - 60 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2022 1,954,419
Additions 278,108
Disposals (214,345 )
At 30 April 2023 2,018,182
DEPRECIATION
At 1 May 2022 697,233
Charge for year 190,302
Eliminated on disposal (101,364 )
At 30 April 2023 786,171
NET BOOK VALUE
At 30 April 2023 1,232,011
At 30 April 2022 1,257,186

H & M Ferguson Ltd (Registered number: SC448966)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2022 925,586
Additions 248,631
Disposals (146,000 )
Transfer to ownership (122,748 )
At 30 April 2023 905,469
DEPRECIATION
At 1 May 2022 223,012
Charge for year 111,114
Eliminated on disposal (58,038 )
Transfer to ownership (59,992 )
At 30 April 2023 216,096
NET BOOK VALUE
At 30 April 2023 689,373
At 30 April 2022 702,574

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 251,362 211,968
Other debtors 2,288 1,028
253,650 212,996

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 38,250 30,600
Hire purchase contracts 204,113 224,825
Trade creditors 8,317 33,786
Taxation and social security 49,099 22,988
Other creditors 285,602 244,253
585,381 556,452

H & M Ferguson Ltd (Registered number: SC448966)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans 76,500 122,400
Hire purchase contracts 199,893 203,436
276,393 325,836

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Hire purchase contracts 404,006 428,261

Balances due on hire purchase contracts are secured upon the assets to which they relate.