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REGISTERED NUMBER: SC071148 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

R.F. & M.H.Donaldson Limited

R.F. & M.H.Donaldson Limited (Registered number: SC071148)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


R.F. & M.H.Donaldson Limited (Registered number: SC071148)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 450,561 461,748

CURRENT ASSETS
Stocks 30,500 30,375
Debtors 5 83,423 93,139
Cash at bank 81,844 94,439
195,767 217,953
CREDITORS
Amounts falling due within one year 6 (160,078 ) (171,107 )
NET CURRENT ASSETS 35,689 46,846
TOTAL ASSETS LESS CURRENT
LIABILITIES

486,250

508,594

CREDITORS
Amounts falling due after more than one
year

7

(22,274

)

(43,111

)

PROVISIONS FOR LIABILITIES (10,239 ) (12,739 )
NET ASSETS 453,737 452,744

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 453,637 452,644
SHAREHOLDERS' FUNDS 453,737 452,744

R.F. & M.H.Donaldson Limited (Registered number: SC071148)

Balance Sheet - continued
30 June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:




Mr G T Donaldson - Director



Mrs C Donaldson - Director


R.F. & M.H.Donaldson Limited (Registered number: SC071148)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

R.F. & M.H. Donaldson Limited is a private company, limited by shares, domiciled in Scotland, registration number SC071148. The registered office is 14 West High Street, Crieff, Perthshire, PH7 4DL.

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 in respect of the sale of confectionery and mail order clothing, excluding value added tax. Sales are recognised at the point at which the company has delivered the goods to the customer.

Tangible fixed assets and depreciation
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Long leasehold - 10% on cost
Plant and machinery - 25% on reducing balance, 15% on reducing balance and 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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. Cost is represented by purchase price.

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.

R.F. & M.H.Donaldson Limited (Registered number: SC071148)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments in treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

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 10 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 July 2023
and 30 June 2024 432,841 30,633 80,634
DEPRECIATION
At 1 July 2023 24,258 30,633 59,429
Charge for year - - 3,215
At 30 June 2024 24,258 30,633 62,644
NET BOOK VALUE
At 30 June 2024 408,583 - 17,990
At 30 June 2023 408,583 - 21,205

R.F. & M.H.Donaldson Limited (Registered number: SC071148)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 54,493 9,054 607,655
DEPRECIATION
At 1 July 2023 23,841 7,746 145,907
Charge for year 7,663 309 11,187
At 30 June 2024 31,504 8,055 157,094
NET BOOK VALUE
At 30 June 2024 22,989 999 450,561
At 30 June 2023 30,652 1,308 461,748

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023
and 30 June 2024 18,938
DEPRECIATION
At 1 July 2023 8,285
Charge for year 2,663
At 30 June 2024 10,948
NET BOOK VALUE
At 30 June 2024 7,990
At 30 June 2023 10,653

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 81,684 93,139
Other debtors 1,739 -
83,423 93,139

R.F. & M.H.Donaldson Limited (Registered number: SC071148)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 18,959 23,557
Hire purchase contracts 313 3,756
Trade creditors 50,951 53,994
Taxation and social security 87,310 83,841
Other creditors 2,545 5,959
160,078 171,107

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 22,274 42,798
Hire purchase contracts - 313
22,274 43,111

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 41,233 66,355
Hire purchase contracts 313 4,069
41,546 70,424

The bank overdraft is secured by a floating charge over the assets of the company.

The bank also holds standard securities over Leafield Cottage, 4 & 5 Aspen Court and 14-16 West High Street, Crieff.

The hire purchase creditors are secured over the assets concerned.