Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3119false2023-04-01No description of principal activity21truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC241777 2023-04-01 2024-03-31 SC241777 2022-04-01 2023-03-31 SC241777 2024-03-31 SC241777 2023-03-31 SC241777 c:CompanySecretary1 2023-04-01 2024-03-31 SC241777 c:Director1 2023-04-01 2024-03-31 SC241777 c:Director2 2023-04-01 2024-03-31 SC241777 c:RegisteredOffice 2023-04-01 2024-03-31 SC241777 d:PlantMachinery 2023-04-01 2024-03-31 SC241777 d:PlantMachinery 2024-03-31 SC241777 d:PlantMachinery 2023-03-31 SC241777 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC241777 d:MotorVehicles 2023-04-01 2024-03-31 SC241777 d:MotorVehicles 2024-03-31 SC241777 d:MotorVehicles 2023-03-31 SC241777 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC241777 d:ComputerEquipment 2023-04-01 2024-03-31 SC241777 d:ComputerEquipment 2024-03-31 SC241777 d:ComputerEquipment 2023-03-31 SC241777 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC241777 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC241777 d:CurrentFinancialInstruments 2024-03-31 SC241777 d:CurrentFinancialInstruments 2023-03-31 SC241777 d:Non-currentFinancialInstruments 2024-03-31 SC241777 d:Non-currentFinancialInstruments 2023-03-31 SC241777 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC241777 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC241777 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC241777 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC241777 d:ShareCapital 2024-03-31 SC241777 d:ShareCapital 2023-03-31 SC241777 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC241777 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC241777 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC241777 c:OrdinaryShareClass1 2024-03-31 SC241777 c:OrdinaryShareClass1 2023-03-31 SC241777 c:FRS102 2023-04-01 2024-03-31 SC241777 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC241777 c:FullAccounts 2023-04-01 2024-03-31 SC241777 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC241777 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC241777










JOHNSTON RIGGING (FIFE) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
JOHNSTON RIGGING (FIFE) LIMITED
 

COMPANY INFORMATION


Directors
Mr K Johnston 
Mr G Johnston 




Company secretary
Mrs A A Johnston



Registered number
SC241777



Registered office
The Old Cluny Warehouse

Cluny

Kirkcaldy

KY2 6QS




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
JOHNSTON RIGGING (FIFE) LIMITED
REGISTERED NUMBER: SC241777

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
1,257,427
1,417,648

  
1,257,427
1,417,648

Current assets
  

Stocks
  
15,000
15,000

Debtors: amounts falling due within one year
 5 
277,669
628,427

Cash at bank and in hand
  
218,254
221,257

  
510,923
864,684

Creditors: amounts falling due within one year
 6 
(576,074)
(885,112)

Net current liabilities
  
 
 
(65,151)
 
 
(20,428)

Total assets less current liabilities
  
1,192,276
1,397,220

Creditors: amounts falling due after more than one year
 7 
(320,073)
(489,141)

Provisions for liabilities
  

Deferred tax
  
(313,357)
(307,246)

  
 
 
(313,357)
 
 
(307,246)

Net assets
  
558,846
600,833


Capital and reserves
  

Called up share capital 
 8 
1,002
1,002

Profit and loss account
  
557,844
599,831

  
558,846
600,833

Page 1

 
JOHNSTON RIGGING (FIFE) LIMITED
REGISTERED NUMBER: SC241777

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 July 2024.




Mr G Johnston
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
JOHNSTON RIGGING (FIFE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Johnston Rigging (Fife) Limited is a private company, limited by shares, incorporated in Scotland with registration number SC241777. The address of the registered office is The Old Cluny Warehouse, Cluny, Kirkcaldy, Scotland, KY2 6QS. 
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
JOHNSTON RIGGING (FIFE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Page 4

 
JOHNSTON RIGGING (FIFE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Computer equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 21 (2023 - 19).

Page 5

 
JOHNSTON RIGGING (FIFE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
2,060,619
380,614
6,426
2,447,659


Additions
16,750
68,578
557
85,885


Disposals
-
(14,595)
-
(14,595)



At 31 March 2024

2,077,369
434,597
6,983
2,518,949



Depreciation


At 1 April 2023
871,815
152,399
5,797
1,030,011


Charge for the year on owned assets
179,793
62,757
285
242,835


Disposals
-
(11,324)
-
(11,324)



At 31 March 2024

1,051,608
203,832
6,082
1,261,522



Net book value



At 31 March 2024
1,025,761
230,765
901
1,257,427



At 31 March 2023
1,188,804
228,215
629
1,417,648


5.


Debtors

2024
2023
£
£


Trade debtors
250,957
504,342

Other debtors
13,045
107,746

Prepayments and accrued income
13,667
16,339

277,669
628,427


Page 6

 
JOHNSTON RIGGING (FIFE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
62,500
62,500

Trade creditors
79,142
33,096

Amounts owed to group undertakings
178,000
126,000

Other taxation and social security
80,084
22,332

Obligations under finance lease and hire purchase contracts
140,169
617,448

Other creditors
4,356
2,520

Accruals and deferred income
31,823
21,216

576,074
885,112


Secured loans
Hire purchase liabilities are secured over the assets to which they relate.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
10,417
72,917

Net obligations under finance leases and hire purchase contracts
209,656
416,224

Accruals and deferred income
100,000
-

320,073
489,141


Secured loans
Hire purchase liabilities are secured over the assets to which they relate.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,002 (2023 - 1,002) Ordinary shares of £1.00 each
1,002
1,002



Page 7