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REGISTERED NUMBER: SC387361 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

J. C. & N. Still Limited

J. C. & N. Still Limited (Registered number: SC387361)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


J. C. & N. Still Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr A J Still
Mrs C A Still
Mr N Z Still





REGISTERED OFFICE: The Flotterstone Inn
Penicuik
EH26 0PP





REGISTERED NUMBER: SC387361 (Scotland)





ACCOUNTANTS: The Grant Considine Partnership
Chartered Accountants
46 High Street
Banchory
Aberdeenshire
AB31 5SR

J. C. & N. Still Limited (Registered number: SC387361)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 521,728 542,800

CURRENT ASSETS
Stocks 9,000 9,000
Cash at bank and in hand 7,540 50,078
16,540 59,078
CREDITORS
Amounts falling due within one year 6 256,134 185,818
NET CURRENT LIABILITIES (239,594 ) (126,740 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

282,134

416,060

CREDITORS
Amounts falling due after more than one
year

7

(251,750

)

(297,093

)

PROVISIONS FOR LIABILITIES (13,451 ) (14,029 )
NET ASSETS 16,933 104,938

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 16,833 104,838
SHAREHOLDERS' FUNDS 16,933 104,938

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

J. C. & N. Still Limited (Registered number: SC387361)

Statement of Financial Position - continued
30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2024 and were signed on its behalf by:





Mr N Z Still - Director


J. C. & N. Still Limited (Registered number: SC387361)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

J. C. & N. Still 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover is measured at fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when the service has been provided, when the amount of revenue can be measured reliably and when its probable that future economic benefits will flow to the entity. If a customer has not been invoiced for services provided during the period the income is accrued and included in debtors under prepayments and accrued income.

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 - 2% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance and 5% on cost

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses.

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

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


J. C. & N. Still Limited (Registered number: SC387361)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 9 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 674,263 108,774 783,037
Additions - 515 515
Disposals - (800 ) (800 )
At 30 November 2023 674,263 108,489 782,752
DEPRECIATION
At 1 December 2022 159,460 80,777 240,237
Charge for year 13,485 8,102 21,587
Eliminated on disposal - (800 ) (800 )
At 30 November 2023 172,945 88,079 261,024
NET BOOK VALUE
At 30 November 2023 501,318 20,410 521,728
At 30 November 2022 514,803 27,997 542,800

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 45,344 45,344
Trade creditors 2,544 7,477
Taxation and social security 29,061 36,324
Other creditors 179,185 96,673
256,134 185,818

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 251,750 297,093

J. C. & N. Still Limited (Registered number: SC387361)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 95,917 166,260

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Santander Bank Loan 271,260 306,604

The bank overdraft is secured by a personal guarantee provided by Mr A J & Mrs C Still, the directors of the company, for £25,000.

The Santander Bank Loan is secured by a floating charge over all the company assets and undertaking. A first ranking standard security from J.C & N Still Ltd over The Flotterstone Inn and The Flotterstone Cottage, Penicuik, EH26 0PP and a second ranking security for Archibald and Carol Still over property 23 Edderston Ridge, Peebles EH45 9NA. There is also a joint and several personal guarantee from the directors in respect of the obligations to the Lender in relation to the guarantee. (Limited to £62,500.00).