IRIS Accounts Production v23.4.0.336 SC015465 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 true false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC0154652022-12-31SC0154652023-12-31SC0154652023-01-012023-12-31SC0154652021-12-31SC0154652022-01-012022-12-31SC0154652022-12-31SC015465ns16:Scotland2023-01-012023-12-31SC015465ns15:PoundSterling2023-01-012023-12-31SC015465ns11:Director12023-01-012023-12-31SC015465ns11:Director22023-01-012023-12-31SC015465ns11:PrivateLimitedCompanyLtd2023-01-012023-12-31SC015465ns11:SmallEntities2023-01-012023-12-31SC015465ns11:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC015465ns11:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC015465ns11:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC015465ns11:FullAccounts2023-01-012023-12-31SC015465ns11:Director32023-01-012023-12-31SC015465ns11:Director42023-01-012023-12-31SC015465ns11:Director52023-01-012023-12-31SC015465ns11:Director62023-01-012023-12-31SC015465ns11:Director72023-01-012023-12-31SC015465ns11:Director82023-01-012023-12-31SC015465ns11:Director92023-01-012023-12-31SC015465ns11:Director102023-01-012023-12-31SC015465ns11:CompanySecretary12023-01-012023-12-31SC015465ns11:RegisteredOffice2023-01-012023-12-31SC015465ns6:CurrentFinancialInstruments2023-12-31SC015465ns6:CurrentFinancialInstruments2022-12-31SC015465ns6:Non-currentFinancialInstruments2023-12-31SC015465ns6:Non-currentFinancialInstruments2022-12-31SC015465ns6:ShareCapital2023-12-31SC015465ns6:ShareCapital2022-12-31SC015465ns6:RevaluationReserve2023-12-31SC015465ns6:RevaluationReserve2022-12-31SC015465ns6:CapitalRedemptionReserve2023-12-31SC015465ns6:CapitalRedemptionReserve2022-12-31SC015465ns6:FurtherSpecificReserve2ComponentTotalEquity2023-12-31SC015465ns6:FurtherSpecificReserve2ComponentTotalEquity2022-12-31SC015465ns6:RetainedEarningsAccumulatedLosses2023-12-31SC015465ns6:RetainedEarningsAccumulatedLosses2022-12-31SC015465ns6:LandBuildings2023-01-012023-12-31SC015465ns6:PlantMachinery2023-01-012023-12-31SC015465ns6:LandBuildings2022-12-31SC015465ns6:PlantMachinery2022-12-31SC015465ns6:LandBuildings2023-12-31SC015465ns6:PlantMachinery2023-12-31SC015465ns6:LandBuildings2022-12-31SC015465ns6:PlantMachinery2022-12-31SC015465ns6:CostValuation2022-12-31SC015465ns6:WithinOneYearns6:CurrentFinancialInstruments2023-12-31SC015465ns6:WithinOneYearns6:CurrentFinancialInstruments2022-12-31SC015465ns6:RevaluationReserve2022-12-31
REGISTERED NUMBER: SC015465 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Drysdale Brothers (Larbert) Limited

Drysdale Brothers (Larbert) Limited (Registered number: SC015465)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Drysdale Brothers (Larbert) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D J Drysdale
A D Drysdale
M B Drysdale
J W Drysdale
E G Ward
D R Drysdale
Mrs L I Anderson
Mrs E J Drysdale
Mrs R C Drysdale
C C S Wyle





SECRETARY: D J Drysdale





REGISTERED OFFICE: 340 Main Street
Stenhousemuir
Larbert
FK5 3BG





REGISTERED NUMBER: SC015465 (Scotland)





ACCOUNTANTS: James Gunn
Chartered Accountants
10 Duckburn Business Park
Dunblane
FK15 0EW

Drysdale Brothers (Larbert) Limited (Registered number: SC015465)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,892,542 2,879,739
Investments 5 100 100
2,892,642 2,879,839

CURRENT ASSETS
Stocks 823,077 987,913
Debtors 6 823,979 1,103,140
Cash at bank 211,116 177,085
1,858,172 2,268,138
CREDITORS
Amounts falling due within one year 7 758,269 987,382
NET CURRENT ASSETS 1,099,903 1,280,756
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,992,545

4,160,595

CREDITORS
Amounts falling due after more than one
year

8

(353,460

)

(597,160

)

PROVISIONS FOR LIABILITIES (547,829 ) (450,581 )
NET ASSETS 3,091,256 3,112,854

CAPITAL AND RESERVES
Called up share capital 14,504 14,504
Revaluation reserve 10 221,265 237,183
Capital redemption reserve 7,000 7,000
Other reserves 7,851 7,851
Retained earnings 2,840,636 2,846,316
SHAREHOLDERS' FUNDS 3,091,256 3,112,854

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

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

Drysdale Brothers (Larbert) Limited (Registered number: SC015465)

Balance Sheet - continued
31 December 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2024 and were signed on its behalf by:




D R Drysdale - Director



J W Drysdale - Director


Drysdale Brothers (Larbert) Limited (Registered number: SC015465)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Drysdale Brothers (Larbert) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain assets, and on the going concern basis. They are presented in sterling, which is the functional currency of the company.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires the directors to exercise their judgement in the application of the company's accounting policies. They do not consider that there are any matters arising in this regard that are so significant to the financial statements as to require separate disclosure.

The principal accounting policies applied in the preparation of these financial statements are set out below. They have been applied consistently to all years presented, unless otherwise stated.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. It is recognised when the company becomes entitled to it, normally on the rendering of an invoice.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - buildings 2% on cost or valuation
Plant and machinery etc - at varying rates on cost and at variable rates on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks and work in progress
Stocks and work in progress, including outward consignment inventories, are valued at the lower of cost and net realisable value on a first-in, first-out basis. Cost comprises raw material, labour and attributable production overheads.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


Drysdale Brothers (Larbert) Limited (Registered number: SC015465)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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 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.

Research and development
Research expenditure is written off as incurred. Development expenditure is similarly treated unless it relates to the production of new or substantially improved products,in which case it may be capitalised as incurred after the technical feasibility and commercial viability of the products have been proven, and costs can be measured accurately. Capitalised development expenditure is written off over the expected life of the product, subject to a maximum period of 10 years.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Operating lease rentals and any incentives receivable are recognised in the profit and loss account on a straight-line basis over the term 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.

Debtors and creditors due within one year
Debtors, prepayments, creditors and provisions are recognised at the transaction value, after taking account of any discounts or impairments.

Cash and cash equivalents
Cash at bank and in hand includes cash, bank current accounts and bank deposits repayable without penalty on notice of not more than three months.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 44 ) .

Drysdale Brothers (Larbert) Limited (Registered number: SC015465)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 726,755 5,472,768 6,199,523
Additions - 344,933 344,933
Disposals - (85,264 ) (85,264 )
At 31 December 2023 726,755 5,732,437 6,459,192
DEPRECIATION
At 1 January 2023 254,795 3,064,989 3,319,784
Charge for year 14,328 302,261 316,589
Eliminated on disposal - (69,723 ) (69,723 )
At 31 December 2023 269,123 3,297,527 3,566,650
NET BOOK VALUE
At 31 December 2023 457,632 2,434,910 2,892,542
At 31 December 2022 471,960 2,407,779 2,879,739

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 1975 30,500 - 30,500
Valuation in 1988 162,500 - 162,500
Valuation in 1998 55,875 - 55,875
Cost 477,880 5,732,437 6,210,317
726,755 5,732,437 6,459,192

The heritable property has been revalued as noted above. This value has been adopted as deemed cost for the purposes of FRS 102.

The comparable amounts for heritable property at historical cost were:

£
Cost477,880
Depreciation142,675
Net Book Value335,205


Drysdale Brothers (Larbert) Limited (Registered number: SC015465)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 805,022 1,065,468
Other debtors 18,957 37,672
823,979 1,103,140

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Hire purchase contracts 250,357 330,357
Trade creditors 221,673 439,334
Amounts owed to group undertakings 9,944 9,944
Taxation and social security 161,234 50,337
Other creditors 115,061 157,410
758,269 987,382

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£    £   
Hire purchase contracts 353,460 597,160

9. SECURED DEBTS

Bank borrowings are secured by a bond and floating charges over the company's assets and a standard security over the premises at 340 Main Street, Stenhousemuir.

Drysdale Brothers (Larbert) Limited (Registered number: SC015465)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


10. RESERVES
Revaluation
reserve
£   
At 1 January 2023 237,183
Revaluation reserve element
of depreciation charge (12,977 )
Revaluation reserve element of deferred tax
charge

(2,941

)


At 31 December 2023 221,265

Deferred tax is provided on revaluation increases, and a charge is made to the revaluation reserve for the tax relating to the revaluation element of the tax provision.