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REGISTERED NUMBER: SC073447 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

JAMES BELL & SONS LIMITED

JAMES BELL & SONS LIMITED (REGISTERED NUMBER: SC073447)






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

Chartered Accountants' Report 7

JAMES BELL & SONS LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: W Bell
K Bell
A Bell
J Bell



SECRETARY: A Bell



REGISTERED OFFICE: 2 Lower Auchingramont Road
Hamilton
Lanarkshire
ML3 6HW



REGISTERED NUMBER: SC073447 (Scotland)



ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA



BANKERS: Bank of Scotland
9 Brandon Street
Hamilton
ML3 6BZ

JAMES BELL & SONS LIMITED (REGISTERED NUMBER: SC073447)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 211,509 217,357

CURRENT ASSETS
Stocks 935 1,560
Debtors 6 25,386 12,566
Cash at bank and in hand 134,445 128,638
160,766 142,764
CREDITORS
Amounts falling due within one year 7 28,608 25,723
NET CURRENT ASSETS 132,158 117,041
TOTAL ASSETS LESS CURRENT
LIABILITIES

343,667

334,398

PROVISIONS FOR LIABILITIES 3,783 3,906
NET ASSETS 339,884 330,492

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Revaluation reserve 135,288 139,388
Retained earnings 154,596 141,104
SHAREHOLDERS' FUNDS 339,884 330,492

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.

JAMES BELL & SONS LIMITED (REGISTERED NUMBER: SC073447)

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 29 August 2024 and were signed on its behalf by:





W Bell - Director


JAMES BELL & SONS LIMITED (REGISTERED NUMBER: SC073447)

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

1. STATUTORY INFORMATION

James Bell & Sons 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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

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

Turnover and revenue recognition
Turnover is derived from various printing services and stationery products supplied by the company.

Turnover is measured at the fair value of printing services and stationery products supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - Straight line over 50 years
Plant and machinery etc - Straight line over 5 years

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. 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.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Stocks
Stocks are valued at the lower of cost and expected selling price less costs to complete, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.


JAMES BELL & SONS LIMITED (REGISTERED NUMBER: SC073447)

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

3. 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 280,000 103,467 383,467
Additions - 4,000 4,000
Disposals - (750 ) (750 )
At 31 March 2024 280,000 106,717 386,717
DEPRECIATION
At 1 April 2023 83,200 82,910 166,110
Charge for year 5,200 4,648 9,848
Eliminated on disposal - (750 ) (750 )
At 31 March 2024 88,400 86,808 175,208
NET BOOK VALUE
At 31 March 2024 191,600 19,909 211,509
At 31 March 2023 196,800 20,557 217,357

Included in cost of land and buildings is freehold land of £ 20,000 (2023 - £ 20,000 ) which is not depreciated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,336 11,705
Other debtors 1,050 861
25,386 12,566

JAMES BELL & SONS LIMITED (REGISTERED NUMBER: SC073447)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,745 3,017
Taxation and social security 17,209 15,006
Other creditors 8,654 7,700
28,608 25,723

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
James Bell & Sons Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of James Bell & Sons Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of James Bell & Sons Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of James Bell & Sons Limited and state those matters that we have agreed to state to the Board of Directors of James Bell & Sons Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that James Bell & Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of James Bell & Sons Limited. You consider that James Bell & Sons Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of James Bell & Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


29 August 2024