Company registration number 00826408 (England and Wales)
J.REDPATH BUCHANAN & CO.LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
J.REDPATH BUCHANAN & CO.LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
J.REDPATH BUCHANAN & CO.LIMITED (REGISTERED NUMBER: 00826408)
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
647,491
540,797
Current assets
Stocks
15,108
18,274
Debtors
4
1,496,748
1,403,800
Cash at bank and in hand
284
281
1,512,140
1,422,355
Creditors: amounts falling due within one year
5
(326,019)
(337,645)
Net current assets
1,186,121
1,084,710
Total assets less current liabilities
1,833,612
1,625,507
Creditors: amounts falling due after more than one year
6
(433,941)
(326,245)
Provisions for liabilities
(83,152)
(46,898)
Net assets
1,316,519
1,252,364
Capital and reserves
Called up share capital
2,000
2,000
Asset reserves
89,365
89,365
Profit and loss reserves
1,225,154
1,160,999
Total equity
1,316,519
1,252,364

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

J.REDPATH BUCHANAN & CO.LIMITED (REGISTERED NUMBER: 00826408)
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 16 August 2024 and are signed on its behalf by:
Miss M D Grant
Director
J.REDPATH BUCHANAN & CO.LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

J.Redpath Buchanan & Co.Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2, Jenkins Dale, Chatham, Kent, ME4 5RD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and trade discounts.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
2% on cost
Plant and machinery
15% and 100% on cost
Fixtures, fittings & equipment
15% on cost
Motor vehicles
25% and 20% per annum of cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

J.REDPATH BUCHANAN & CO.LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
25
26
J.REDPATH BUCHANAN & CO.LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
3
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 December 2022
474,752
315,967
34,281
558,933
1,383,933
Additions
-
0
4,220
-
0
245,615
249,835
Disposals
-
0
-
0
-
0
(200,822)
(200,822)
At 30 November 2023
474,752
320,187
34,281
603,726
1,432,946
Depreciation and impairment
At 1 December 2022
150,373
303,024
34,281
355,458
843,136
Depreciation charged in the year
9,495
5,483
-
0
91,769
106,747
Eliminated in respect of disposals
-
0
-
0
-
0
(164,428)
(164,428)
At 30 November 2023
159,868
308,507
34,281
282,799
785,455
Carrying amount
At 30 November 2023
314,884
11,680
-
0
320,927
647,491
At 30 November 2022
324,379
12,943
-
0
203,475
540,797
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
261,642
338,844
Other debtors
1,235,106
1,064,956
1,496,748
1,403,800
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
87,664
81,538
Trade creditors
31,574
93,871
Taxation and social security
23,640
28,567
Other creditors
183,141
133,669
326,019
337,645
J.REDPATH BUCHANAN & CO.LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
236,853
282,207
Other creditors
197,088
44,038
433,941
326,245

As at the balance sheet date there was a loan of £206,624 (2022: £221,394), this is secured against the property.

7
Financial commitments, guarantees and contingent liabilities

As at the balance sheet date, there was a CBIL of £75,000 (2022: £105,000). As part of its loan scheme the UK government guaranteed the advance and paid the interest and fees due for the first 12 months.

 

The company has entered into a cross guarantee arrangement with its bankers in relation to its

parent company JRB Group Limited.

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