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REGISTERED NUMBER: SC354517 (Scotland)















Financial Statements for the Year Ended 31 December 2023

for

S A FAIRGRIEVE LIMITED

S A FAIRGRIEVE LIMITED (REGISTERED NUMBER: SC354517)

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










Page

Balance Sheet 1

Notes to the Financial Statements 2


S A FAIRGRIEVE LIMITED (REGISTERED NUMBER: SC354517)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
Fixed assets
Tangible assets 4 226,704 224,732

Current assets
Debtors 5 40,020 22,847
Cash at bank 27,714 70,100
67,734 92,947
Creditors
Amounts falling due within one year 6 (65,523 ) (67,771 )
Net current assets 2,211 25,176
Total assets less current liabilities 228,915 249,908

Creditors
Amounts falling due after more than one year 7 (93,034 ) (121,125 )

Provisions for liabilities (24,389 ) (22,559 )
Net assets 111,492 106,224

Capital and reserves
Called up share capital 9 100 100
Retained earnings 111,392 106,124
Shareholders' funds 111,492 106,224

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 director acknowledges his 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 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 & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 August 2024 and were signed by:




G Fairgrieve - Director


S A FAIRGRIEVE LIMITED (REGISTERED NUMBER: SC354517)

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


1. Statutory information

S A Fairgrieve Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC354517

Registered office: Macmerry Industrial Estate
Macmerry
East Lothian
EH33 1RD

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from haulage contracting is recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant & equipment - 15% on reducing balance
Commercial vehicle - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% straight line

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the assets capable of operating as intended.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.


S A FAIRGRIEVE LIMITED (REGISTERED NUMBER: SC354517)

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


2. Accounting policies - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Going concern
The accounts are prepared on the going concern basis as the company has the full ongoing financial support of its director.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Bank and cash
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

3. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

4. Tangible fixed assets
Plant & Commercial
Shed equipment vehicle
£    £    £   
Cost
At 1 January 2023 94,774 17,536 115,247
Additions - 32,000 -
At 31 December 2023 94,774 49,536 115,247
Depreciation
At 1 January 2023 - 2,686 38,416
Charge for year - 2,977 19,208
At 31 December 2023 - 5,663 57,624
Net book value
At 31 December 2023 94,774 43,873 57,623
At 31 December 2022 94,774 14,850 76,831

S A FAIRGRIEVE LIMITED (REGISTERED NUMBER: SC354517)

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


4. Tangible fixed assets - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 January 2023 47,034 1,108 275,699
Additions - - 32,000
At 31 December 2023 47,034 1,108 307,699
Depreciation
At 1 January 2023 9,286 579 50,967
Charge for year 7,643 200 30,028
At 31 December 2023 16,929 779 80,995
Net book value
At 31 December 2023 30,105 329 226,704
At 31 December 2022 37,748 529 224,732

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 27,539 15,704
Other debtors 10,866 6,700
Prepayments 1,615 443
40,020 22,847

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Hire purchase contracts and finance leases (see note 8)
28,961

4,094
Income in advance 7,329 7,000
Trade creditors 2,649 20,827
Corporation tax 825 8,134
Taxation and social security (2,801 ) (273 )
Other creditors and accruals 9,285 8,714
Director's loan account 19,275 19,275
65,523 67,771

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Hire purchase contracts and finance leases (see note 8)
28,891

26,652
Director's loan 64,143 94,473
93,034 121,125

S A FAIRGRIEVE LIMITED (REGISTERED NUMBER: SC354517)

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


8. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts Finance leases
2023 2022 2023 2022
£    £    £    £   
Net obligations repayable:
Within one year 24,700 - 4,261 4,094
Between one and five years 6,500 - 22,391 26,652
31,200 - 26,652 30,746

The hire purchase contracts are secured over the assets concerned.

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1.00 100 100