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REGISTERED NUMBER: 01446453 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Stott O'Connell and Company Limited

Stott O'Connell and Company Limited (Registered number: 01446453)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 5

Chartered Accountants' Report 9

Stott O'Connell and Company Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J Brankin





SECRETARY: J Brankin





REGISTERED OFFICE: Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS





REGISTERED NUMBER: 01446453 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
BD21 3DS

Stott O'Connell and Company Limited (Registered number: 01446453)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 284,684 353,196
Investments 6 2 2
284,686 353,198

CURRENT ASSETS
Stocks 1,355,000 1,158,500
Debtors 7 585,899 741,219
Cash at bank 73,171 152,210
2,014,070 2,051,929
CREDITORS
Amounts falling due within one year 8 (1,482,527 ) (1,494,872 )
NET CURRENT ASSETS 531,543 557,057
TOTAL ASSETS LESS CURRENT
LIABILITIES

816,229

910,255

CREDITORS
Amounts falling due after more than one
year

9

(13,700

)

(82,672

)

PROVISIONS FOR LIABILITIES (50,346 ) (62,660 )
NET ASSETS 752,183 764,923

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 752,083 764,823
SHAREHOLDERS' FUNDS 752,183 764,923

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 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.

Stott O'Connell and Company Limited (Registered number: 01446453)

Statement of Financial Position - 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 Statement of Income and Retained Earnings has not been delivered.

Stott O'Connell and Company Limited (Registered number: 01446453)

Statement of Financial Position - continued
31 March 2024



The financial statements were approved by the director and authorised for issue on 23 August 2024 and were signed by:





J Brankin - Director


Stott O'Connell and Company Limited (Registered number: 01446453)

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

1. STATUTORY INFORMATION

Stott O'Connell and Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - at varying rates on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Stott O'Connell and Company Limited (Registered number: 01446453)

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

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Investments
Investments are valued annually and shown in the accounts at valuation. Net surpluses are credited to revaluation reserves.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 25 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 1,534,026 41,440 37,590 1,613,056
DEPRECIATION
At 1 April 2023 1,182,901 39,369 37,590 1,259,860
Charge for year 67,550 962 - 68,512
At 31 March 2024 1,250,451 40,331 37,590 1,328,372
NET BOOK VALUE
At 31 March 2024 283,575 1,109 - 284,684
At 31 March 2023 351,125 2,071 - 353,196

Stott O'Connell and Company Limited (Registered number: 01446453)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 904,306 5,990 910,296
DEPRECIATION
At 1 April 2023 700,714 5,990 706,704
Charge for year 40,832 - 40,832
At 31 March 2024 741,546 5,990 747,536
NET BOOK VALUE
At 31 March 2024 162,760 - 162,760
At 31 March 2023 203,592 - 203,592

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 2
NET BOOK VALUE
At 31 March 2024 2
At 31 March 2023 2


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 569,506 726,900
Other debtors 12,500 12,500
Prepayments 3,893 1,819
585,899 741,219

Stott O'Connell and Company Limited (Registered number: 01446453)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 341,115 161,977
Hire purchase contracts 18,972 41,831
Trade creditors 489,583 600,974
Tax 44,405 35,793
Social security and other taxes 85,021 83,581
Other creditors 475,448 551,646
Directors' current accounts 103 60
Accrued expenses 27,880 19,010
1,482,527 1,494,872

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other loan under 5 years 12,500 50,000
Bank loans due in 2-5 years - 12,500
Hire purchase contracts 1,200 20,172
13,700 82,672

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 20,172 62,003

The hire purchase contracts are secured against the assets to which they relate.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Stott O'Connell and Company Limited

The following reproduces the text of the report prepared for the director 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director 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 Stott O'Connell and Company Limited for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Stott O'Connell and Company Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stott O'Connell and Company Limited and state those matters that we have agreed to state to the director of Stott O'Connell and Company Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stott O'Connell and Company Limited and its director for our work or for this report.

It is your duty to ensure that Stott O'Connell and Company 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 Stott O'Connell and Company Limited. You consider that Stott O'Connell and Company 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 Stott O'Connell and Company 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.






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
BD21 3DS


23 August 2024