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REGISTERED NUMBER: SC185220 (Scotland)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

P. LAYDEN & SON LTD.

P. LAYDEN & SON LTD. (REGISTERED NUMBER: SC185220)






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


P. LAYDEN & SON LTD.

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTORS: Miss J Coogans
Mrs L A Wilkie





SECRETARY: Miss J Coogans





REGISTERED OFFICE: North Walton Farm Craigton Road
Newton Mearns
Glasgow
G77 6QG





REGISTERED NUMBER: SC185220 (Scotland)





ACCOUNTANTS: Kean Jarman & Company
Chartered Accountants
27 Ingram Street
Glasgow
G1 1HA

P. LAYDEN & SON LTD. (REGISTERED NUMBER: SC185220)

BALANCE SHEET
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 129,278 113,893

CURRENT ASSETS
Stocks 5 509,983 259,560
Debtors 6 533,559 443,341
Cash at bank and in hand 126,038 5,954
1,169,580 708,855
CREDITORS
Amounts falling due within one year 7 712,894 408,696
NET CURRENT ASSETS 456,686 300,159
TOTAL ASSETS LESS CURRENT
LIABILITIES

585,964

414,052

CREDITORS
Amounts falling due after more than one
year

8

(15,873

)

(25,873

)

PROVISIONS FOR LIABILITIES (32,320 ) (21,640 )
NET ASSETS 537,771 366,539

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 537,769 366,537
SHAREHOLDERS' FUNDS 537,771 366,539

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.

P. LAYDEN & SON LTD. (REGISTERED NUMBER: SC185220)

BALANCE SHEET - 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 28 August 2024 and were signed on its behalf by:




Miss J Coogans - Director



Mrs L A Wilkie - Director


P. LAYDEN & SON LTD. (REGISTERED NUMBER: SC185220)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

P. Layden & Son Ltd. 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.

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, excluding discounts, rebates, value added tax and other sales taxes.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

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.

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.

P. LAYDEN & SON LTD. (REGISTERED NUMBER: SC185220)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2022 3,395 179,867 183,262
Additions - 58,361 58,361
At 30 November 2023 3,395 238,228 241,623
DEPRECIATION
At 1 December 2022 2,525 66,844 69,369
Charge for year 130 42,846 42,976
At 30 November 2023 2,655 109,690 112,345
NET BOOK VALUE
At 30 November 2023 740 128,538 129,278
At 30 November 2022 870 113,023 113,893

5. STOCKS
30.11.23 30.11.22
£    £   
Stocks 140,000 130,000
Work-in-progress 369,983 129,560
509,983 259,560

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 408,327 388,903
VAT 97,918 53,520
Prepayments and accrued income 27,314 918
533,559 443,341

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 9,960 9,960
Trade creditors 353,949 241,696
Tax 49,353 34,302
Social security and other taxes 18,855 22,928
Other creditors 229,455 62,545
Directors' current accounts 20,305 21,624
Accrued expenses 31,017 15,641
712,894 408,696

P. LAYDEN & SON LTD. (REGISTERED NUMBER: SC185220)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans - 1-2 years 9,960 9,960
Bank loans - 2-5 years 5,913 15,913
15,873 25,873

9. RELATED PARTY DISCLOSURES

J Coogans, the company director, was owed £20,305 (2022-£21,624) by the company at the year end. £21,624 was the maximum amount outstanding during the year.

Included in other creditors is £229,455 (2022- £62,545) owed to related parties. The maximum amount outstanding was £229,455 during the year.During the year invoices to the value of £50,000 (2022-£480,000) were raised to the related party.