REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
L F Bruce & Sons Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
L F Bruce & Sons Limited |
L F Bruce & Sons Limited (Registered number: SC240167) |
Contents of the Financial Statements |
for the Year Ended 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
L F Bruce & Sons Limited |
Company Information |
for the Year Ended 30 November 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountant |
3 Maryfield Road |
Broughty Ferry |
DUNDEE |
Tayside |
DD5 2JJ |
L F Bruce & Sons Limited (Registered number: SC240167) |
Balance Sheet |
30 November 2023 |
30.11.23 | 30.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
L F Bruce & Sons Limited (Registered number: SC240167) |
Balance Sheet - continued |
30 November 2023 |
The financial statements were approved by the director and authorised for issue on |
L F Bruce & Sons Limited (Registered number: SC240167) |
Notes to the Financial Statements |
for the Year Ended 30 November 2023 |
1. | STATUTORY INFORMATION |
L F Bruce & Sons Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is derived from roofing services. |
Turnover represents the income from this service and is measured at the fair value consideration received or receivable, excluding discounts, rebates and value added tax. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
The company's policy is to carry all the assets at historical cost less accumulated depreciation and accumulated impairment loss. |
At each balance sheet date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that any items have suffered impairment loss.. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss. Where is is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash generating unit to which it belongs. |
Stocks |
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 classifies as financial instruments - trade debtors, trade creditors, and director's loans. |
The director's loan, 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 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. |
L F Bruce & Sons Limited (Registered number: SC240167) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
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. |
Going concern |
At the time of approving of the financial statements, the director has reasonable expectations that the company has adequate resources to continue in an operational existence for the foreseeable future. Thus the going concern basis for the preparation of the accounts has been adopted by the director. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 December 2022 |
and 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Trade debtors |
L F Bruce & Sons Limited (Registered number: SC240167) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | PROVISIONS FOR LIABILITIES |
30.11.23 | 30.11.22 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1 December 2022 |
Utilised during year | ( |
) |
Balance at 30 November 2023 |
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022: |
30.11.23 | 30.11.22 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |