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REGISTERED NUMBER: SC465800 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

George Armstrong Limited

George Armstrong Limited (Registered number: SC465800)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


George Armstrong Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A Robertson
P M Ranaldi (Jnr)





REGISTERED OFFICE: Cowan & Partners
60 Constitution Street
Leith
Edinburgh
MIDLOTHIAN
EH6 6RR





REGISTERED NUMBER: SC465800 (Scotland)





ACCOUNTANTS: Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR

George Armstrong Limited (Registered number: SC465800)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 186,525 198,341
186,525 198,341

CURRENT ASSETS
Stocks 11,953 15,602
Debtors 6 52,448 42,237
Cash at bank and in hand 162,969 178,247
227,370 236,086
CREDITORS
Amounts falling due within one year 7 27,886 50,627
NET CURRENT ASSETS 199,484 185,459
TOTAL ASSETS LESS CURRENT
LIABILITIES

386,009

383,800

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 385,909 383,700
SHAREHOLDERS' FUNDS 386,009 383,800

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

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

George Armstrong Limited (Registered number: SC465800)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2024 and were signed on its behalf by:





P M Ranaldi (Jnr) - Director


George Armstrong Limited (Registered number: SC465800)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

George Armstrong 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. 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 fair value of the consideration received or receivable and represents the amount receivable for goods supplied to customers in the normal course of business, excluding value added tax. The policy is to recognise a sale when the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

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 etc - 33% on cost and 25% on reducing balance

At the balance sheet date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The company owns heritable property from which it trades from. Given that the property is owner-occupied, the Directors have chosen to adopt the Cost model, meaning the property is held on the Balance Sheet at original cost of £145,240. No depreciation is applied to the property as it is assumed that the property will not lose value over the period of ownership.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


George Armstrong Limited (Registered number: SC465800)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
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 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 27,500
AMORTISATION
At 1 April 2023
and 31 March 2024 27,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

George Armstrong Limited (Registered number: SC465800)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 145,240 151,348 296,588
Additions - 2,044 2,044
At 31 March 2024 145,240 153,392 298,632
DEPRECIATION
At 1 April 2023 - 98,247 98,247
Charge for year - 13,860 13,860
At 31 March 2024 - 112,107 112,107
NET BOOK VALUE
At 31 March 2024 145,240 41,285 186,525
At 31 March 2023 145,240 53,101 198,341

No indicators of impairment have been noted in the year.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 46,112 37,021
Other debtors 6,336 5,216
52,448 42,237

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 17,823 42,999
Taxation and social security 5,746 3,809
Other creditors 4,317 3,819
27,886 50,627