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REGISTERED NUMBER: SC338895 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

JAMES BORTHWICK LTD

JAMES BORTHWICK LTD (REGISTERED NUMBER: SC338895)

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


JAMES BORTHWICK LTD

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: D Borthwick
D J Gray



SECRETARY: Mrs K Gray



REGISTERED OFFICE: 6 Craigleith Road
Edinburgh
Lothian
EH4 2DP



REGISTERED NUMBER: SC338895 (Scotland)



ACCOUNTANTS: Mitchell Edwards
Chartered Certified Accountants
24A Ainslie Place
Edinburgh
EH3 6AJ



BANKERS: Bank of Scotland
43 Comely Bank
Edinburgh
EH4 1AF

JAMES BORTHWICK LTD (REGISTERED NUMBER: SC338895)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 55,000 68,750
Tangible assets 5 212,673 196,915
267,673 265,665

CURRENT ASSETS
Stocks 6 28,173 28,752
Debtors 7 31,925 35,516
Cash at bank and in hand 14,403 5,281
74,501 69,549
CREDITORS
Amounts falling due within one year 8 260,127 259,726
NET CURRENT LIABILITIES (185,626 ) (190,177 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,047

75,488

PROVISIONS FOR LIABILITIES 1,224 -
NET ASSETS 80,823 75,488

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 55,000 35,000
Retained earnings 25,723 40,388
SHAREHOLDERS' FUNDS 80,823 75,488

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 BORTHWICK LTD (REGISTERED NUMBER: SC338895)

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 16 August 2024 and were signed on its behalf by:




D Borthwick - Director



D J Gray - Director


JAMES BORTHWICK LTD (REGISTERED NUMBER: SC338895)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

James Borthwick 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.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortized evenly over its estimated useful life of twenty years as determined by the directors.

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.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on cost

Building are depreciated at 4% 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 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 material 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 12 ) .

JAMES BORTHWICK LTD (REGISTERED NUMBER: SC338895)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 275,000
AMORTISATION
At 1 April 2023 206,250
Amortisation for year 13,750
At 31 March 2024 220,000
NET BOOK VALUE
At 31 March 2024 55,000
At 31 March 2023 68,750

5. TANGIBLE FIXED ASSETS
Fixtures
Heritable and Motor
property fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 212,645 38,945 6,399 257,989
Additions - 4,226 - 4,226
Disposals - (221 ) (4,499 ) (4,720 )
Revaluations 20,000 - - 20,000
At 31 March 2024 232,645 42,950 1,900 277,495
DEPRECIATION
At 1 April 2023 30,524 24,151 6,399 61,074
Charge for year 4,653 3,801 - 8,454
Eliminated on disposal - (207 ) (4,499 ) (4,706 )
At 31 March 2024 35,177 27,745 1,900 64,822
NET BOOK VALUE
At 31 March 2024 197,468 15,205 - 212,673
At 31 March 2023 182,121 14,794 - 196,915

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Heritable and Motor
property fittings vehicles Totals
£    £    £    £   
Valuation in 2021 35,000 - - 35,000
Valuation in 2024 20,000 - - 20,000
Cost 177,645 42,950 1,900 222,495
232,645 42,950 1,900 277,495

JAMES BORTHWICK LTD (REGISTERED NUMBER: SC338895)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


6. STOCKS
2024 2023
£    £   
Stocks 28,173 28,752

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 28,656 32,541
Other debtors 3,269 2,975
31,925 35,516

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 34,702 38,843
Taxation and social security 666 -
Other creditors 224,759 220,883
260,127 259,726