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REGISTERED NUMBER: SC228782 (Scotland)











































Scott & Foggon Ltd.

Unaudited Financial Statements

for the Year Ended 31st March 2024






Scott & Foggon Ltd. (Registered number: SC228782)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


Scott & Foggon Ltd.

Company Information
for the year ended 31st March 2024







Directors: R Scott
D H Foggon
G J Foggon
C J Scott





Secretary: R Scott





Registered office: Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL





Business address: Unit 4
Oxnam Road Industrial Estate
Jedburgh
TD8 6LS





Registered number: SC228782 (Scotland)





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

Scott & Foggon Ltd. (Registered number: SC228782)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 165,086 149,643

Current assets
Stocks 74,836 89,592
Debtors 5 291,938 379,345
Cash at bank and in hand 373,003 408,534
739,777 877,471
Creditors
Amounts falling due within one year 6 133,083 157,888
Net current assets 606,694 719,583
Total assets less current liabilities 771,780 869,226

Provisions for liabilities 18,613 10,471
Net assets 753,167 858,755

Capital and reserves
Called up share capital 20,000 20,000
Retained earnings 733,167 838,755
Shareholders' funds 753,167 858,755

Scott & Foggon Ltd. (Registered number: SC228782)

Balance Sheet - continued
31st March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

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

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.

The financial statements were approved by the Board of Directors and authorised for issue on 29th August 2024 and were signed on its behalf by:




D H Foggon - Director



R Scott - Director


Scott & Foggon Ltd. (Registered number: SC228782)

Notes to the Financial Statements
for the year ended 31st March 2024

1. Statutory information

Scott & Foggon 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received and receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of value added tax.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

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 - 4% on cost
Plant and equipment - 20% on reducing balance
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices less further costs expected to be incurred in bringing the stock to completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and accruals.

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 impairment is found, and impairment loss is recognised in the Statement of Income and Retained Earnings.

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 balance sheet date.


Scott & Foggon Ltd. (Registered number: SC228782)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

2. 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.

Long term contracts
Amounts recoverable on long term contracts, which are included in debtors are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

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 Statement of Income and Retained Earnings 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 an expectation that the company should be in a position to continue trading in the current format 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 13 (2023 - 13 ) .

Scott & Foggon Ltd. (Registered number: SC228782)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

4. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property equipment fittings vehicles Totals
£    £    £    £    £   
Cost
At 1st April 2023 250,154 31,601 1,900 137,177 420,832
Additions - 2,193 - 45,662 47,855
At 31st March 2024 250,154 33,794 1,900 182,839 468,687
Depreciation
At 1st April 2023 122,346 22,065 1,900 124,878 271,189
Charge for year 10,006 2,939 - 19,467 32,412
At 31st March 2024 132,352 25,004 1,900 144,345 303,601
Net book value
At 31st March 2024 117,802 8,790 - 38,494 165,086
At 31st March 2023 127,808 9,536 - 12,299 149,643

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 277,510 365,128
Other debtors 14,428 14,217
291,938 379,345

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 53,882 66,963
Taxation and social security 74,024 83,813
Other creditors 5,177 7,112
133,083 157,888

7. Post balance sheet events

On 8 April 2024, a final dividend for the year ending 31 March 2024 of £6 per share has been declared.

On 27 August 2024, an interim dividend for the year ending 31 March 2025 of £5 per share has been declared.