IRIS Accounts Production v24.2.0.383 SC336038 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3360382023-01-31SC3360382024-01-31SC3360382023-02-012024-01-31SC3360382022-01-31SC3360382022-02-012023-01-31SC3360382023-01-31SC336038ns15:Scotland2023-02-012024-01-31SC336038ns14:PoundSterling2023-02-012024-01-31SC336038ns10:Director12023-02-012024-01-31SC336038ns10:PrivateLimitedCompanyLtd2023-02-012024-01-31SC336038ns10:SmallEntities2023-02-012024-01-31SC336038ns10:AuditExemptWithAccountantsReport2023-02-012024-01-31SC336038ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-31SC336038ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-31SC336038ns10:FullAccounts2023-02-012024-01-31SC33603812023-02-012024-01-31SC336038ns10:Director22023-02-012024-01-31SC336038ns10:CompanySecretary12023-02-012024-01-31SC336038ns10:RegisteredOffice2023-02-012024-01-31SC336038ns5:CurrentFinancialInstruments2024-01-31SC336038ns5:CurrentFinancialInstruments2023-01-31SC336038ns5:Non-currentFinancialInstruments2024-01-31SC336038ns5:Non-currentFinancialInstruments2023-01-31SC336038ns5:ShareCapital2024-01-31SC336038ns5:ShareCapital2023-01-31SC336038ns5:RetainedEarningsAccumulatedLosses2024-01-31SC336038ns5:RetainedEarningsAccumulatedLosses2023-01-31SC336038ns5:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-31SC336038ns5:PlantMachinery2023-02-012024-01-31SC336038ns5:FurnitureFittings2023-02-012024-01-31SC336038ns5:MotorVehicles2023-02-012024-01-31SC336038ns5:ComputerEquipment2023-02-012024-01-31SC336038ns5:NetGoodwill2023-01-31SC336038ns5:NetGoodwill2024-01-31SC336038ns5:NetGoodwill2023-01-31SC336038ns5:LeaseholdImprovements2023-01-31SC336038ns5:PlantMachinery2023-01-31SC336038ns5:FurnitureFittings2023-01-31SC336038ns5:LeaseholdImprovements2023-02-012024-01-31SC336038ns5:LeaseholdImprovements2024-01-31SC336038ns5:PlantMachinery2024-01-31SC336038ns5:FurnitureFittings2024-01-31SC336038ns5:LeaseholdImprovements2023-01-31SC336038ns5:PlantMachinery2023-01-31SC336038ns5:FurnitureFittings2023-01-31SC336038ns5:MotorVehicles2023-01-31SC336038ns5:ComputerEquipment2023-01-31SC336038ns5:MotorVehicles2024-01-31SC336038ns5:ComputerEquipment2024-01-31SC336038ns5:MotorVehicles2023-01-31SC336038ns5:ComputerEquipment2023-01-31SC336038ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-31SC336038ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-31SC336038ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-01-31SC336038ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-01-31
REGISTERED NUMBER: SC336038 (Scotland)















Unaudited Financial Statements for the Year Ended 31st January 2024

for

Grahams Of Inverness Limited

Grahams Of Inverness Limited (Registered number: SC336038)

Contents of the Financial Statements
for the year ended 31st January 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Grahams Of Inverness Limited

Company Information
for the year ended 31st January 2024







Directors: K Traill
D A Traill





Secretary: R M Murray





Registered office: 37/39 Castle Street
Inverness
IV2 3DU





Registered number: SC336038 (Scotland)





Accountants: Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Grahams Of Inverness Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Grahams Of Inverness Limited for the year ended 31st January 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the 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 Grahams Of Inverness Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Grahams Of Inverness Limited and state those matters that we have agreed to state to the Board of Directors of Grahams Of Inverness 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 the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Grahams Of Inverness 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 Grahams Of Inverness Limited. You consider that Grahams Of Inverness 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 Grahams Of Inverness 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.






Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT


14th August 2024

Grahams Of Inverness Limited (Registered number: SC336038)

Balance Sheet
31st January 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 58,546 41,783
58,546 41,783

Current assets
Stocks 1,071,592 1,110,837
Debtors 6 47,768 16,811
Cash at bank and in hand 20,139 42,682
1,139,499 1,170,330
Creditors
Amounts falling due within one year 7 224,839 203,976
Net current assets 914,660 966,354
Total assets less current liabilities 973,206 1,008,137

Creditors
Amounts falling due after more than one
year

8

(32,466

)

(28,502

)

Provisions for liabilities (1,524 ) (4,568 )
Net assets 939,216 975,067

Capital and reserves
Called up share capital 20,000 20,000
Retained earnings 919,216 955,067
939,216 975,067

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

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

Grahams Of Inverness Limited (Registered number: SC336038)

Balance Sheet - continued
31st January 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 14th August 2024 and were signed on its behalf by:





D A Traill - Director


Grahams Of Inverness Limited (Registered number: SC336038)

Notes to the Financial Statements
for the year ended 31st January 2024


1. Statutory information

Grahams Of Inverness 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 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.

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.

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 - 10% on cost
Fixtures and fittings - 20% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 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.


Grahams Of Inverness Limited (Registered number: SC336038)

Notes to the Financial Statements - continued
for the year ended 31st January 2024


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.

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.

Fair value
Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.

3. Employees and directors

The average number of employees during the year was 13 (2023 - 11 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1st February 2023
and 31st January 2024 100,000
Amortisation
At 1st February 2023
and 31st January 2024 100,000
Net book value
At 31st January 2024 -
At 31st January 2023 -

Grahams Of Inverness Limited (Registered number: SC336038)

Notes to the Financial Statements - continued
for the year ended 31st January 2024


5. Tangible fixed assets
Fixtures
Plant and and
Website machinery fittings
£    £    £   
Cost
At 1st February 2023 17,795 11,062 53,417
Additions - - -
Disposals - - (12,597 )
At 31st January 2024 17,795 11,062 40,820
Depreciation
At 1st February 2023 17,452 10,343 27,301
Charge for year 343 368 3,917
Eliminated on disposal - - -
At 31st January 2024 17,795 10,711 31,218
Net book value
At 31st January 2024 - 351 9,602
At 31st January 2023 343 719 26,116

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1st February 2023 12,597 19,753 114,624
Additions 36,650 2,527 39,177
Disposals - - (12,597 )
At 31st January 2024 49,247 22,280 141,204
Depreciation
At 1st February 2023 6,101 11,644 72,841
Charge for year 9,163 2,127 15,918
Eliminated on disposal (6,101 ) - (6,101 )
At 31st January 2024 9,163 13,771 82,658
Net book value
At 31st January 2024 40,084 8,509 58,546
At 31st January 2023 6,496 8,109 41,783

Grahams Of Inverness Limited (Registered number: SC336038)

Notes to the Financial Statements - continued
for the year ended 31st January 2024


6. Debtors
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 35,501 10,481
Other debtors 6,767 6,330
42,268 16,811

Amounts falling due after more than one year:
Other debtors 5,500 -

Aggregate amounts 47,768 16,811

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 10,041 9,499
Hire purchase contracts 7,799 2,354
Trade creditors 92,570 92,024
Taxation and social security 89,648 85,073
Other creditors 24,781 15,026
224,839 203,976

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 18,166 28,502
Hire purchase contracts 14,300 -
32,466 28,502

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 22,099 -

The above amounts are secured on the asset to which they relate.