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No description of principal activities is disclosed
2022-10-01
Sage Accounts Production 21.0 - FRS102_2021
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Company registration number:
SC402617
Bell and Craig Limited
Unaudited filleted financial statements
30 September 2023
Bell and Craig Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Bell and Craig Limited
Directors and other information
|
|
|
|
Directors |
F C P Bell |
|
|
L A Taylor |
|
|
A L Wilson |
|
|
|
|
|
|
|
Company number |
SC402617 |
|
|
|
|
|
|
|
Registered office |
4 Albert Place |
|
|
Dumbarton Road |
|
|
Stirling |
|
|
United Kingdom |
|
|
FK8 2QL |
|
|
|
|
|
|
|
Business address |
4 Albert Place |
|
|
Dumbarton Road |
|
|
Stirling |
|
|
United Kingdom |
|
|
FK8 2QL |
|
|
|
|
|
|
|
Accountants |
Barrie Scott & Co. |
|
|
16 - 18 Weir Street |
|
|
Falkirk |
|
|
FK1 1RA |
|
|
|
Bell and Craig Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Bell and Craig Limited
Year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bell and Craig Limited for the year ended 30 September 2023 which comprise the statement of financial position, statement of changes in equity and 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 Bell and Craig Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Bell and Craig Limited and state those matters that we have agreed to state to the board of directors of Bell and Craig 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 Bell and Craig Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Bell and Craig 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 Bell and Craig Limited. You consider that Bell and Craig 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 Bell and Craig 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.
Barrie Scott & Co.
Accountants & Tax Advisers
16 - 18 Weir Street
Falkirk
FK1 1RA
12 March 2024
Bell and Craig Limited
Statement of financial position
30 September 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
- |
|
|
|
18,000 |
|
|
Tangible assets |
|
6 |
140,602 |
|
|
|
144,665 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
140,602 |
|
|
|
162,665 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Work in progress |
|
|
37,111 |
|
|
|
55,866 |
|
|
Debtors |
|
7 |
149,239 |
|
|
|
151,340 |
|
|
Cash at bank and in hand |
|
|
4,480,321 |
|
|
|
4,914,814 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
4,666,671 |
|
|
|
5,122,020 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
4,613,707) |
|
|
|
(
5,083,978) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
52,964 |
|
|
|
38,042 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
193,566 |
|
|
|
200,707 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
(
94,169) |
|
|
|
(
133,267) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
5,734) |
|
|
|
(
4,934) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
93,663 |
|
|
|
62,506 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
10 |
|
|
100 |
|
|
|
80 |
Capital redemption reserve |
|
|
|
|
40 |
|
|
|
20 |
Profit and loss account |
|
|
|
|
93,523 |
|
|
|
62,406 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
93,663 |
|
|
|
62,506 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
07 March 2024
, and are signed on behalf of the board by:
L A Taylor
Director
Company registration number:
SC402617
Bell and Craig Limited
Notes to the financial statements
Year ended 30 September 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 4 Albert Place, Dumbarton Road, Stirling, United Kingdom, FK8 2QL.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention.The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to te nearest £.
Revenue recognition
Turnover is recognised at the fair value of the consideration received or receivable for solicitor services, and is shown net of VAT and other sales related taxes.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill represents the exces of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment lesses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is between 5 and 10 years.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Freehold property |
- |
No depreciation or 10% on reducing balance |
|
|
Plant and machinery |
- |
25 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
25 % |
reducing balance |
|
Computer equipment |
- |
33 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Staff costs
The average number of persons employed by the company during the year amounted to
15
(2022:
16
).
The aggregate payroll costs incurred during the year were:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Wages and salaries |
|
496,359 |
510,848 |
|
Social security costs |
|
45,017 |
48,241 |
|
Other pension costs |
|
11,682 |
12,130 |
|
|
|
_______ |
_______ |
|
|
|
553,058 |
571,219 |
|
|
|
_______ |
_______ |
|
|
|
|
|
5.
Intangible assets
|
|
Goodwill |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 October 2022 and 30 September 2023 |
522,500 |
522,500 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 October 2022 |
504,500 |
504,500 |
|
|
|
|
|
Charge for the year |
18,000 |
18,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 30 September 2023 |
522,500 |
522,500 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 30 September 2023 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 30 September 2022 |
18,000 |
18,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Freehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Computer equipment |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 October 2022 |
154,908 |
9,156 |
1,222 |
25,533 |
190,819 |
|
|
|
Additions |
- |
- |
- |
1,198 |
1,198 |
|
|
|
Disposals |
- |
- |
- |
(
6,942) |
(
6,942) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 30 September 2023 |
154,908 |
9,156 |
1,222 |
19,789 |
185,075 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 October 2022 |
14,804 |
8,584 |
1,146 |
21,621 |
46,155 |
|
|
|
Charge for the year |
2,588 |
143 |
19 |
2,510 |
5,260 |
|
|
|
Disposals |
- |
- |
- |
(
6,942) |
(
6,942) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 30 September 2023 |
17,392 |
8,727 |
1,165 |
17,189 |
44,473 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 30 September 2023 |
137,516 |
429 |
57 |
2,600 |
140,602 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 30 September 2022 |
140,104 |
572 |
76 |
3,912 |
144,664
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
113,507 |
116,361 |
|
Other debtors |
|
35,732 |
34,979 |
|
|
|
_______ |
_______ |
|
|
|
149,239 |
151,340 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
39,500 |
83,179 |
|
Trade creditors |
|
1,250 |
3,763 |
|
Corporation tax |
|
51,984 |
20,501 |
|
Social security and other taxes |
|
60,906 |
62,536 |
|
Other creditors |
|
4,460,067 |
4,913,999 |
|
|
|
_______ |
_______ |
|
|
|
4,613,707 |
5,083,978 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
94,169 |
133,267 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The loans and overdraft are secured by a fixed and floating charge over the freehold property and other assets of the company, in favour of the Bank of Scotland PLC.
10.
Called up share capital
Issued, called up and fully paid
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary share capital shares of £
1.00 each |
|
100 |
|
100 |
|
80 |
|
80 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
Share movements
|
|
|
No |
£ |
|
Ordinary share capital : |
|
|
|
|
At 1 October 2022 |
|
80 |
80 |
|
Issue of shares |
|
40 |
40 |
|
Shares redeemed |
|
(20) |
(20) |
|
|
|
_______ |
_______ |
|
At 30 September 2023 |
|
100 |
100 |
|
|
|
_______ |
_______ |
|
|
|
|
|
11.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
|
|
|
£ |
£ |
|
|
|
Later than 1 year and not later than 5 years |
55,318 |
49,354 |
Later than 5 years |
288,000 |
324,000 |
|
_______ |
_______ |
|
343,318 |
373,354 |
|
_______ |
_______ |
|
|
|
Operating lease commitments represent rental payable by the company for a property and equipment. Leases are negotiated for a term of 10 years for properties and an average term of 3 years for equipment.
12.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
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|
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|
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|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
L A Taylor |
10,830 |
- |
(
10,830) |
- |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
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|
|
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|
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|
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|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
L A Taylor |
(
30) |
12,360 |
(
1,500) |
10,830 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
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13.
Related party transactions
During the year rent was paid to a director for the company premises totalling £18,000 (2022: £39,000).