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REGISTERED NUMBER: SC747138 (Scotland)















Unaudited Financial Statements

for the Period 12 October 2022 to 31 March 2024

for

R Flynn & Sons Ltd

R Flynn & Sons Ltd (Registered number: SC747138)






Contents of the Financial Statements
for the Period 12 October 2022 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R Flynn & Sons Ltd

Company Information
for the Period 12 October 2022 to 31 March 2024







DIRECTORS: A Flynn
T Flynn





REGISTERED OFFICE: Cowan & Partners
60 Constitution Street
Leith
Edinburgh
Lothian
EH6 6RR





REGISTERED NUMBER: SC747138 (Scotland)





ACCOUNTANTS: Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR

R Flynn & Sons Ltd (Registered number: SC747138)

Balance Sheet
31 March 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 270,818

CURRENT ASSETS
Debtors 5 184,152
Cash at bank and in hand 81,566
265,718
CREDITORS
Amounts falling due within one year 6 271,259
NET CURRENT LIABILITIES (5,541 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

265,277

CREDITORS
Amounts falling due after more than one
year

7

(150,832

)

PROVISIONS FOR LIABILITIES (67,705 )
NET ASSETS 46,740

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 46,640
46,740

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

R Flynn & Sons Ltd (Registered number: SC747138)

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 11 October 2024 and were signed on its behalf by:




A Flynn - Director



T Flynn - Director


R Flynn & Sons Ltd (Registered number: SC747138)

Notes to the Financial Statements
for the Period 12 October 2022 to 31 March 2024

1. STATUTORY INFORMATION

R Flynn & Sons 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 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.

Turnover
Income from haulage services and income from garage services is recognised once the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Work is invoiced when the work is substantially complete.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the period 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 period 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.

R Flynn & Sons Ltd (Registered number: SC747138)

Notes to the Financial Statements - continued
for the Period 12 October 2022 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Leases
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 363,697
Disposals (2,622 )
At 31 March 2024 361,075
DEPRECIATION
Charge for period 90,257
At 31 March 2024 90,257
NET BOOK VALUE
At 31 March 2024 270,818

No indicators of impairment were noted in the period.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 184,152

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Hire purchase contracts 82,019
Trade creditors 51,482
Taxation and social security 35,504
Other creditors 102,254
271,259

R Flynn & Sons Ltd (Registered number: SC747138)

Notes to the Financial Statements - continued
for the Period 12 October 2022 to 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Hire purchase contracts 150,832