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REGISTERED NUMBER: SC029191 (Scotland)











































Border Concrete Products Limited

Unaudited Financial Statements

for the Year Ended 31st December 2023






Border Concrete Products Limited (Registered number: SC029191)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 8


Border Concrete Products Limited

Company Information
for the year ended 31st December 2023







Directors: Mrs S Briggs
R Briggs
C M Briggs





Secretary: C M Briggs





Registered office: Jedburgh Road
Kelso
Roxburghshire
TD5 8JG





Registered number: SC029191 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Border Concrete Products Limited (Registered number: SC029191)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 683,526 101,937

Current assets
Stocks 187,187 221,304
Debtors 5 483,137 459,650
670,324 680,954
Creditors
Amounts falling due within one year 6 305,270 277,463
Net current assets 365,054 403,491
Total assets less current liabilities 1,048,580 505,428

Creditors
Amounts falling due after more than one
year

7

(24,329

)

(69,484

)

Provisions for liabilities (169,482 ) (18,202 )
Net assets 854,769 417,742

Capital and reserves
Called up share capital 10,400 10,400
Revaluation reserve 9 450,000 -
Capital redemption reserve 2,600 2,600
Retained earnings 391,769 404,742
Shareholders' funds 854,769 417,742

Border Concrete Products Limited (Registered number: SC029191)

Balance Sheet - continued
31st December 2023


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

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

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 2nd September 2024 and were signed on its behalf by:





C M Briggs - Director


Border Concrete Products Limited (Registered number: SC029191)

Notes to the Financial Statements
for the year ended 31st December 2023

1. Statutory information

Border Concrete Products 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.

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 represents the total invoice value, excluding value added tax, of sales made during the year. Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer.

In respect of long term contracts and contracts for on-going services, turnover is recognised to the extent that the company obtains a right to consideration as contract activity progresses.

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 - 4% on cost
Plant and machinery - 25% on reducing balance
Bicycles - Straight line over 6 years and Straight line over 5 years
Motor vehicles - 25% on reducing balance
Office equipment - 20% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost included a relevant proportion of overheads according to the stage of completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, hire purchase contracts, bank overdrafts, bank loans and directors' loans.

Hire purchase contracts and bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.


Border Concrete Products Limited (Registered number: SC029191)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. Accounting policies - continued
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.

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.

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 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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the income statement, in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a period of 12 months and beyond from the date of signing these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 26 (2022 - 24 ) .

Border Concrete Products Limited (Registered number: SC029191)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

4. Tangible fixed assets
Land and Plant and
buildings machinery Bicycles
£    £    £   
Cost or valuation
At 1st January 2023 78,295 439,648 1,589
Additions - 8,230 -
Revaluations 600,000 - -
At 31st December 2023 678,295 447,878 1,589
Depreciation
At 1st January 2023 78,118 399,505 1,184
Charge for year 177 10,209 265
At 31st December 2023 78,295 409,714 1,449
Net book value
At 31st December 2023 600,000 38,164 140
At 31st December 2022 177 40,143 405

Motor Office
vehicles equipment Totals
£    £    £   
Cost or valuation
At 1st January 2023 105,162 56,213 680,907
Additions - 472 8,702
Revaluations - - 600,000
At 31st December 2023 105,162 56,685 1,289,609
Depreciation
At 1st January 2023 47,702 52,461 578,970
Charge for year 14,365 2,097 27,113
At 31st December 2023 62,067 54,558 606,083
Net book value
At 31st December 2023 43,095 2,127 683,526
At 31st December 2022 57,460 3,752 101,937

Cost or valuation at 31st December 2023 is represented by:

Land and Plant and
buildings machinery Bicycles
£    £    £   
Valuation in 2023 600,000 - -
Cost 78,295 447,878 1,589
678,295 447,878 1,589

Border Concrete Products Limited (Registered number: SC029191)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

4. Tangible fixed assets - continued

Motor Office
vehicles equipment Totals
£    £    £   
Valuation in 2023 - - 600,000
Cost 105,162 56,685 689,609
105,162 56,685 1,289,609

If land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 78,295 -
Aggregate depreciation 78,295 -

Land and buildings were valued on an open market basis on 31st December 2023 by Royal Bank of Scotland .

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 253,236 211,010
Other debtors 229,901 248,640
483,137 459,650

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 31,718 43,783
Hire purchase contracts 43,633 26,265
Trade creditors 138,296 140,804
Taxation and social security 84,568 60,744
Other creditors 7,055 5,867
305,270 277,463

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 15,000 25,000
Hire purchase contracts 9,329 44,484
24,329 69,484

Border Concrete Products Limited (Registered number: SC029191)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

8. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 21,718 33,783
Hire purchase contracts 52,962 70,749
74,680 104,532

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

The Royal Bank of Scotland has a bond and floating charge over the undertaking and all property and assets present and future of the company including uncalled capital.

9. Reserves
Revaluatio
reserve
£   
Land & Buildings 450,000

At 31st December 2023 450,000

10. Directors' advances, credits and guarantees

Included within other debtors are the following loans to directors:

at 31 DecAmountAmountat 31 Dec
2022AdvancedRepaid2023

Director 195,127-7,39187,736
Director 247,970-5,19342,777
Director 345,669-6,65639,013
Total188,766-19,240169,526

These loans are unsecured, repayable on demand and interest has been charged at the official rates published by HMRC.

11. Post balance sheet events

On 31st August 2023 an interim dividend of £2 per share was declared in respect of the year ended 31st December 2024.