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REGISTERED NUMBER: SC250374 (Scotland)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 June 2023

for

Ian Brown Engineering Ltd.

Ian Brown Engineering Ltd. (Registered number: SC250374)






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




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Ian Brown Engineering Ltd.

Company Information
for the Year Ended 30 June 2023







DIRECTORS: I Brown
Mrs A Brown





REGISTERED OFFICE: Craigbeg
Durris
Banchory
Aberdeenshire
AB31 6DB





REGISTERED NUMBER: SC250374 (Scotland)





ACCOUNTANTS: MacDonald Accountancy Services
11 Margaret Street
Stonehaven
Aberdeenshire
AB39 2AY

Ian Brown Engineering Ltd. (Registered number: SC250374)

Report of the Directors
for the Year Ended 30 June 2023

The directors present their report with the financial statements of the company for the year ended 30 June 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

I Brown
Mrs A Brown

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





I Brown - Director


22 August 2023

Ian Brown Engineering Ltd. (Registered number: SC250374)

Income Statement
for the Year Ended 30 June 2023

30.6.23 30.6.22
Notes £    £   

TURNOVER 128,417 189,706

Cost of sales 56,636 87,383
GROSS PROFIT 71,781 102,323

Administrative expenses 77,389 78,895
(5,608 ) 23,428

Other operating income - 1,500
OPERATING (LOSS)/PROFIT and
(LOSS)/PROFIT BEFORE TAXATION (5,608 ) 24,928

Tax on (loss)/profit - 6,288
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(5,608

)

18,640

Ian Brown Engineering Ltd. (Registered number: SC250374)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 50,819 39,440

CURRENT ASSETS
Stocks 1,000 500
Debtors 6 3,109 22,488
Cash at bank 284,444 299,524
288,553 322,512
CREDITORS
Amounts falling due within one year 7 3,295 6,883
NET CURRENT ASSETS 285,258 315,629
TOTAL ASSETS LESS CURRENT
LIABILITIES

336,077

355,069

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 336,075 355,067
SHAREHOLDERS' FUNDS 336,077 355,069

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2023 and were signed on its behalf by:





I Brown - Director


Ian Brown Engineering Ltd. (Registered number: SC250374)

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

1. STATUTORY INFORMATION

Ian Brown Engineering 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 reducing balance
Motor vehicles - 25% 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.

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.

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 - 2 ) .

Ian Brown Engineering Ltd. (Registered number: SC250374)

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

4. OPERATING (LOSS)/PROFIT

The operating loss (2022 - operating profit) is stated after charging:

30.6.23 30.6.22
£    £   
Depreciation - owned assets 11,062 10,387

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2022 51,069 123,322 - 23,346 197,737
Additions - - 3,458 30,803 34,261
Disposals (51,069 ) - - - (51,069 )
At 30 June 2023 - 123,322 3,458 54,149 180,929
DEPRECIATION
At 1 July 2022 37,129 100,822 - 20,346 158,297
Charge for year 2,120 5,625 - 3,317 11,062
Eliminated on disposal (39,249 ) - - - (39,249 )
At 30 June 2023 - 106,447 - 23,663 130,110
NET BOOK VALUE
At 30 June 2023 - 16,875 3,458 30,486 50,819
At 30 June 2022 13,940 22,500 - 3,000 39,440

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 3,109 22,488

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 547 4,587
Taxation and social security 1,328 (1,139 )
Other creditors 1,420 3,435
3,295 6,883