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REGISTERED NUMBER: SC122379 (Scotland)















Financial Statements for the Year Ended 31 December 2023

for

George Beattie & Sons Limited

George Beattie & Sons Limited (Registered number: SC122379)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


George Beattie & Sons Limited (Registered number: SC122379)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,818,663 2,529,372

CURRENT ASSETS
Stocks 99,034 5,000
Debtors 5 1,455,488 476,027
Cash at bank 208,843 314,781
1,763,365 795,808
CREDITORS
Amounts falling due within one year 6 926,564 670,615
NET CURRENT ASSETS 836,801 125,193
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,655,464

2,654,565

CREDITORS
Amounts falling due after more than one year 7 (74,853 ) (44,921 )

PROVISIONS FOR LIABILITIES (430,714 ) (205,558 )
NET ASSETS 3,149,897 2,404,086

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 3,149,895 2,404,084
SHAREHOLDERS' FUNDS 3,149,897 2,404,086

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.

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 2 July 2024 and were signed on its behalf by:



A G Beattie - Director



D A Beattie - Director


George Beattie & Sons Limited (Registered number: SC122379)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

George Beattie & Sons Limited is a private company, limited by shares, domiciled in Scotland, registration number SC122379. The registered office is Auchinvole Castle, Kilsyth, Glasgow, G65 0SA.

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 represents net invoiced sales of goods and services in respect of demolition services, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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 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.

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.

George Beattie & Sons Limited (Registered number: SC122379)

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is
determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 23 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 3,461,500 296,225 744,035 4,501,760
Additions 905,500 - 32,650 938,150
Disposals (116,000 ) - (125,619 ) (241,619 )
At 31 December 2023 4,251,000 296,225 651,066 5,198,291
DEPRECIATION
At 1 January 2023 1,574,667 149,819 247,902 1,972,388
Charge for year 464,826 22,046 120,558 607,430
Eliminated on disposal (88,473 ) - (111,717 ) (200,190 )
At 31 December 2023 1,951,020 171,865 256,743 2,379,628
NET BOOK VALUE
At 31 December 2023 2,299,980 124,360 394,323 2,818,663
At 31 December 2022 1,886,833 146,406 496,133 2,529,372

George Beattie & Sons Limited (Registered number: SC122379)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023 560,900
Additions 459,750
Transfer to ownership (225,400 )
At 31 December 2023 795,250
DEPRECIATION
At 1 January 2023 182,488
Charge for year 53,859
Transfer to ownership (62,425 )
At 31 December 2023 173,922
NET BOOK VALUE
At 31 December 2023 621,328
At 31 December 2022 378,412

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 603,531 309,555
Other debtors 851,957 166,472
1,455,488 476,027

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 139,731 90,741
Hire purchase contracts 168,342 101,333
Trade creditors 281,675 382,263
Taxation and social security 332,996 84,610
Other creditors 3,820 11,668
926,564 670,615

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 18,186 28,050
Hire purchase contracts 56,667 16,871
74,853 44,921

George Beattie & Sons Limited (Registered number: SC122379)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 129,674 80,741
Hire purchase contracts 225,009 118,204
354,683 198,945

The Royal Bank of Scotland plc have registered a bond and floating charge with effect from 25 February 2008.

Amounts due on hire purchase are secured over the individual assets concerned.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
A G Beattie
Balance outstanding at start of year - -
Amounts advanced 545,436 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 545,436 -

D A Beattie
Balance outstanding at start of year - -
Amounts advanced 31,297 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 31,297 -