IRIS Accounts Production v24.1.9.2 SC258689 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2586892023-03-31SC2586892024-03-31SC2586892023-04-012024-03-31SC2586892022-03-31SC2586892022-04-012023-03-31SC2586892023-03-31SC258689ns15:Scotland2023-04-012024-03-31SC258689ns14:PoundSterling2023-04-012024-03-31SC258689ns10:Director12023-04-012024-03-31SC258689ns10:PrivateLimitedCompanyLtd2023-04-012024-03-31SC258689ns10:SmallEntities2023-04-012024-03-31SC258689ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31SC258689ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-31SC258689ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC258689ns10:FullAccounts2023-04-012024-03-31SC25868912023-04-012024-03-31SC258689ns10:Director22023-04-012024-03-31SC258689ns10:CompanySecretary12023-04-012024-03-31SC258689ns10:RegisteredOffice2023-04-012024-03-31SC258689ns5:CurrentFinancialInstruments2024-03-31SC258689ns5:CurrentFinancialInstruments2023-03-31SC258689ns5:Non-currentFinancialInstruments2024-03-31SC258689ns5:Non-currentFinancialInstruments2023-03-31SC258689ns5:ShareCapital2024-03-31SC258689ns5:ShareCapital2023-03-31SC258689ns5:RetainedEarningsAccumulatedLosses2024-03-31SC258689ns5:RetainedEarningsAccumulatedLosses2023-03-31SC258689ns5:NetGoodwill2023-04-012024-03-31SC258689ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-31SC258689ns5:PatentsTrademarksLicencesConcessionsSimilar2023-04-012024-03-31SC258689ns5:PlantMachinery2023-04-012024-03-31SC258689ns5:MotorVehicles2023-04-012024-03-31SC258689ns5:ComputerEquipment2023-04-012024-03-31SC258689ns5:NetGoodwill2023-03-31SC258689ns5:PatentsTrademarksLicencesConcessionsSimilar2023-03-31SC258689ns5:NetGoodwill2024-03-31SC258689ns5:PatentsTrademarksLicencesConcessionsSimilar2024-03-31SC258689ns5:NetGoodwill2023-03-31SC258689ns5:PatentsTrademarksLicencesConcessionsSimilar2023-03-31SC258689ns5:PlantMachinery2023-03-31SC258689ns5:MotorVehicles2023-03-31SC258689ns5:ComputerEquipment2023-03-31SC258689ns5:PlantMachinery2024-03-31SC258689ns5:MotorVehicles2024-03-31SC258689ns5:ComputerEquipment2024-03-31SC258689ns5:PlantMachinery2023-03-31SC258689ns5:MotorVehicles2023-03-31SC258689ns5:ComputerEquipment2023-03-31SC258689ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31SC258689ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31SC258689ns5:DeferredTaxation2023-04-012024-03-31SC258689ns5:DeferredTaxation2024-03-31
REGISTERED NUMBER: SC258689 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

THE JOHN MUIR COUNTRY STORE LIMITED

THE JOHN MUIR COUNTRY STORE LIMITED (REGISTERED NUMBER: SC258689)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE JOHN MUIR COUNTRY STORE LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: M A Stewart
F E Roberts





SECRETARY: G Stewart





REGISTERED OFFICE: Q Court
3 Quality Street
Edinburgh
EH4 5BP





REGISTERED NUMBER: SC258689 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

THE JOHN MUIR COUNTRY STORE LIMITED (REGISTERED NUMBER: SC258689)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,387 -
Tangible assets 5 50,594 8,846
54,981 8,846

CURRENT ASSETS
Stocks 23,266 24,779
Debtors 6 6,273 2,064
Cash at bank and in hand 2,220 275
31,759 27,118
CREDITORS
Amounts falling due within one year 7 91,860 65,454
NET CURRENT LIABILITIES (60,101 ) (38,336 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,120

)

(29,490

)

CREDITORS
Amounts falling due after more than one
year

8

(3,763

)

(6,198

)

PROVISIONS FOR LIABILITIES 9 (2,918 ) -
NET LIABILITIES (11,801 ) (35,688 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (11,802 ) (35,689 )
SHAREHOLDERS' FUNDS (11,801 ) (35,688 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 JOHN MUIR COUNTRY STORE LIMITED (REGISTERED NUMBER: SC258689)

BALANCE SHEET - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





M A Stewart - Director


THE JOHN MUIR COUNTRY STORE LIMITED (REGISTERED NUMBER: SC258689)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

The John Muir Country Store 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

At 31 March 2024 the company had net current liabilities of £11,801 (2023 - £35,688) and relies on the continued support its shareholders, directors and bank to finance its working capital requirements.

TURNOVER
Turnover represents the sale of food and specialist gift items, excluding value added tax.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, has been amortised evenly over its estimated useful life of ten 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.

Website are being amortised evenly over their estimated useful life of three years.

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% per annum reducing balance
Motor vehicles - 25% per annum reducing balance
Computer equipment - 20% per annum reducing balance

The carrying values of tangible fixed assets are reviewed for impairment on an annual basis.

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

THE JOHN MUIR COUNTRY STORE LIMITED (REGISTERED NUMBER: SC258689)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

THE JOHN MUIR COUNTRY STORE LIMITED (REGISTERED NUMBER: SC258689)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill Website Totals
£    £    £   
COST
At 1 April 2023 10,000 - 10,000
Additions - 5,550 5,550
At 31 March 2024 10,000 5,550 15,550
AMORTISATION
At 1 April 2023 10,000 - 10,000
Amortisation for year - 1,163 1,163
At 31 March 2024 10,000 1,163 11,163
NET BOOK VALUE
At 31 March 2024 - 4,387 4,387
At 31 March 2023 - - -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 2,710 35,460 531 38,701
Additions 390 50,030 - 50,420
Disposals (296 ) (23,700 ) - (23,996 )
At 31 March 2024 2,804 61,790 531 65,125
DEPRECIATION
At 1 April 2023 2,305 27,401 149 29,855
Charge for year 49 4,218 76 4,343
Eliminated on disposal (99 ) (19,568 ) - (19,667 )
At 31 March 2024 2,255 12,051 225 14,531
NET BOOK VALUE
At 31 March 2024 549 49,739 306 50,594
At 31 March 2023 405 8,059 382 8,846

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 6,273 2,064

THE JOHN MUIR COUNTRY STORE LIMITED (REGISTERED NUMBER: SC258689)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,239 11,313
Trade creditors 18,853 25,389
Taxation and social security 1,272 433
Other creditors 69,496 28,319
91,860 65,454

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 3,763 6,198

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,918 -

Deferred
tax
£   
Charge to Statement of Income and Retained Earnings during year 2,918
Balance at 31 March 2024 2,918

10. RELATED PARTY DISCLOSURES

Included in "Other creditors" are amounts totalling £40,125 (2023 - £12,688) due to the directors from the company. The loans are interest free and repayable on demand.