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REGISTERED NUMBER: SC061995 (Scotland)















Financial Statements For The Year Ended 31 December 2023

for

Richard Aitken (Seedsmen) Limited

Richard Aitken (Seedsmen) Limited (Registered number: SC061995)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Richard Aitken (Seedsmen) Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: R M Aitken
R F Aitken
C D Aitken





SECRETARY: Mrs D Aitken





REGISTERED OFFICE: 20 Robert Drive
Govan
Glasgow
G51 3HE





REGISTERED NUMBER: SC061995 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Richard Aitken (Seedsmen) Limited (Registered number: SC061995)

Abridged Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 845,544 981,704
Investments 5 272,477 188,886
1,118,021 1,170,590

CURRENT ASSETS
Stocks 462,394 482,795
Debtors 733,545 606,964
Cash at bank 1,018,174 1,490,079
2,214,113 2,579,838
CREDITORS
Amounts falling due within one year 495,101 918,026
NET CURRENT ASSETS 1,719,012 1,661,812
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,837,033

2,832,402

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Share premium 11,000 11,000
Retained earnings 2,801,033 2,796,402
2,837,033 2,832,402

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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

Richard Aitken (Seedsmen) Limited (Registered number: SC061995)

Abridged Statement of Financial Position - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 August 2024 and were signed on its behalf by:





R M Aitken - Director


Richard Aitken (Seedsmen) Limited (Registered number: SC061995)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Richard Aitken (Seedsmen) 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 as modified by the revaluation of certain assets.

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.
Freehold property - 2% on cost
Fixtures and fittings - 30% on reducing balance
Motor vehicles - 25% on cost and 20% on reducing balance

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
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 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.

Richard Aitken (Seedsmen) Limited (Registered number: SC061995)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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 held as fixed assets are included at fair value. Movements in fair value are recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 1,777,691
Disposals (85,984 )
At 31 December 2023 1,691,707
DEPRECIATION
At 1 January 2023 795,987
Charge for year 98,542
Eliminated on disposal (48,366 )
At 31 December 2023 846,163
NET BOOK VALUE
At 31 December 2023 845,544
At 31 December 2022 981,704

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 January 2023 188,886
Additions 85,000
Revaluations (1,409 )
At 31 December 2023 272,477
NET BOOK VALUE
At 31 December 2023 272,477
At 31 December 2022 188,886

Richard Aitken (Seedsmen) Limited (Registered number: SC061995)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 December 2023 is represented by:
Totals
£   
Valuation in 2023 272,477