REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
Stuart,McIntyre & Stuart |
(Stirling) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
Stuart,McIntyre & Stuart |
(Stirling) Limited |
Stuart,McIntyre & Stuart |
(Stirling) Limited (Registered number: SC055362) |
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 |
Stuart,McIntyre & Stuart |
(Stirling) Limited |
Company Information |
for the Year Ended 31 January 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
10 Duckburn Business Park |
Dunblane |
FK15 0EW |
Stuart,McIntyre & Stuart |
(Stirling) Limited (Registered number: SC055362) |
Balance Sheet |
31 January 2024 |
31/1/24 | 31/1/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Stuart,McIntyre & Stuart |
(Stirling) Limited (Registered number: SC055362) |
Balance Sheet - continued |
31 January 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Stuart,McIntyre & Stuart |
(Stirling) Limited (Registered number: SC055362) |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Stuart,McIntyre & Stuart (Stirling) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain assets, and on the going concern basis. They are presented in sterling, which is the functional currency of the company. |
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires the directors to exercise their judgement in the application of the company's accounting policies. They do not consider that there are any matters arising in this regard that are so significant to the financial statements as to require separate disclosure. |
The principal accounting policies applied in the preparation of these financial statements are set out below. They have been applied consistently to all years presented, unless otherwise stated. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. It is recognised when the company becomes entitled to it. |
Tangible fixed assets |
Heritable property | - |
Plant and machinery | - |
Motor vehicles | - |
Land is not depreciated. |
Stocks |
Stocks are valued at the lower of cost and net realisable value on the first-in first-out basis, 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 Profit and loss account, 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. |
Stuart,McIntyre & Stuart |
(Stirling) Limited (Registered number: SC055362) |
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 |
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. |
Debtors and creditors due within one year |
Debtors, prepayments, creditors and provisions are recognised at the transaction value, after taking account of any discounts or impairments. |
Cash and cash equivalents |
Cash at bank and in hand includes cash, bank current accounts and bank deposits repayable without penalty on notice of not more than three months.. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Heritable | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 February 2023 |
Additions & improvements |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
Stuart,McIntyre & Stuart |
(Stirling) Limited (Registered number: SC055362) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 January 2024 is represented by: |
Heritable | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
Valuation in 2001 | 131,590 | - | - | 131,590 |
Cost | 13,687 | 99,508 | 15,795 | 128,990 |
145,277 | 99,508 | 15,795 | 260,580 |
The heritable property has been revalued as noted above. This value has been adopted as deemed cost on transition to FRS 102. |
The comparable amounts for heritable property at historical cost were: |
£ |
Cost | 13,687 |
Depreciation | (2,014 | ) |
Net Book Value | 11,673 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/1/24 | 31/1/23 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/1/24 | 31/1/23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | RESERVES |
Revaluation |
reserve |
£ |
At 1 February 2023 |
Revaluation reserve element |
of depreciation charge | (1,882 | ) |
At 31 January 2024 |
Deferred tax is provided on revaluation gains, and a charge is made to the revaluation reserve for the tax relating to the revaluation element of the provision. |