IRIS Accounts Production v24.2.0.383 SC227325 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2273252023-01-31SC2273252024-01-31SC2273252023-02-012024-01-31SC2273252022-01-31SC2273252022-02-012023-01-31SC2273252023-01-31SC227325ns15:Scotland2023-02-012024-01-31SC227325ns14:PoundSterling2023-02-012024-01-31SC227325ns10:Director12023-02-012024-01-31SC227325ns10:PrivateLimitedCompanyLtd2023-02-012024-01-31SC227325ns10:SmallEntities2023-02-012024-01-31SC227325ns10:AuditExemptWithAccountantsReport2023-02-012024-01-31SC227325ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-31SC227325ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-31SC227325ns10:FullAccounts2023-02-012024-01-31SC227325ns10:Director22023-02-012024-01-31SC227325ns10:Director32023-02-012024-01-31SC227325ns10:RegisteredOffice2023-02-012024-01-31SC227325ns5:CurrentFinancialInstruments2024-01-31SC227325ns5:CurrentFinancialInstruments2023-01-31SC227325ns5:Non-currentFinancialInstruments2024-01-31SC227325ns5:Non-currentFinancialInstruments2023-01-31SC227325ns5:ShareCapital2024-01-31SC227325ns5:ShareCapital2023-01-31SC227325ns5:RetainedEarningsAccumulatedLosses2024-01-31SC227325ns5:RetainedEarningsAccumulatedLosses2023-01-31SC227325ns5:PlantMachinery2023-02-012024-01-31SC227325ns5:FurnitureFittings2023-02-012024-01-31SC227325ns5:MotorVehicles2023-02-012024-01-31SC227325ns5:PlantMachinery2023-01-31SC227325ns5:FurnitureFittings2023-01-31SC227325ns5:MotorVehicles2023-01-31SC227325ns5:PlantMachinery2024-01-31SC227325ns5:FurnitureFittings2024-01-31SC227325ns5:MotorVehicles2024-01-31SC227325ns5:PlantMachinery2023-01-31SC227325ns5:FurnitureFittings2023-01-31SC227325ns5:MotorVehicles2023-01-31SC227325ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-01-31SC227325ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-02-012024-01-31SC227325ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-01-31SC227325ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-01-31SC227325ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-31SC227325ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-31
REGISTERED NUMBER: SC227325 (Scotland)





















Unaudited Financial Statements

For The Year Ended 31 January 2024

for

George Ritchie & Son Ltd.

George Ritchie & Son Ltd. (Registered number: SC227325)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

George Ritchie & Son Ltd.

Company Information
For The Year Ended 31 January 2024







DIRECTORS: G Ritchie (Jnr)
Mrs M M Ritchie
Ms C M Owens





REGISTERED OFFICE: 1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH





REGISTERED NUMBER: SC227325 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

George Ritchie & Son Ltd. (Registered number: SC227325)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 864,960 467,630

CURRENT ASSETS
Stocks - 95,568
Debtors 5 198,697 47,060
Cash at bank 709,533 564,714
908,230 707,342
CREDITORS
Amounts falling due within one year 6 1,060,291 409,612
NET CURRENT (LIABILITIES)/ASSETS (152,061 ) 297,730
TOTAL ASSETS LESS CURRENT
LIABILITIES

712,899

765,360

CREDITORS
Amounts falling due after more than one
year

7

(115,020

)

(56,308

)

PROVISIONS FOR LIABILITIES (216,240 ) (116,907 )
NET ASSETS 381,639 592,145

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 381,539 592,045
381,639 592,145

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

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

George Ritchie & Son Ltd. (Registered number: SC227325)

Balance Sheet - continued
31 January 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 8 October 2024 and were signed on its behalf by:





Ms C M Owens - Director


George Ritchie & Son Ltd. (Registered number: SC227325)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

George Ritchie & Son 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances
Cash and bank balances are measured at the transaction 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.


George Ritchie & Son Ltd. (Registered number: SC227325)

Notes to the Financial Statements - continued
For The Year Ended 31 January 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 34 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 426,152 11,080 782,460 1,219,692
Additions 53,771 - 650,216 703,987
Disposals - - (313,000 ) (313,000 )
Transfer to ownership - - 294,500 294,500
At 31 January 2024 479,923 11,080 1,414,176 1,905,179
DEPRECIATION
At 1 February 2023 287,747 9,853 454,462 752,062
Charge for year 48,044 184 239,929 288,157
At 31 January 2024 335,791 10,037 694,391 1,040,219
NET BOOK VALUE
At 31 January 2024 144,132 1,043 719,785 864,960
At 31 January 2023 138,405 1,227 327,998 467,630

George Ritchie & Son Ltd. (Registered number: SC227325)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Motor
vehicles
£   
COST
At 1 February 2023 294,500
Additions 136,975
Disposals (294,500 )
At 31 January 2024 136,975
DEPRECIATION
At 1 February 2023 166,979
Charge for year 34,244
Transfer to ownership (166,979 )
At 31 January 2024 34,244
NET BOOK VALUE
At 31 January 2024 102,731
At 31 January 2023 127,521

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 81,388 31,482
Amounts owed by group undertakings 9,078 9,078
Other debtors 108,231 6,500
198,697 47,060

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts and finance leases 40,165 48,300
Trade creditors 95,691 2,058
Amounts owed to group undertakings 676,556 25,145
Taxation and social security 219,066 305,330
Other creditors 28,813 28,779
1,060,291 409,612

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts and finance leases 115,020 56,308

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
George Ritchie & Son Ltd.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of George Ritchie & Son Ltd. for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of George Ritchie & Son Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of George Ritchie & Son Ltd. and state those matters that we have agreed to state to the Board of Directors of George Ritchie & Son Ltd., as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that George Ritchie & Son Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of George Ritchie & Son Ltd.. You consider that George Ritchie & Son Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of George Ritchie & Son Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH


8 October 2024