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REGISTERED NUMBER: SC129765 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Connon Brothers Limited

Connon Brothers Limited (Registered number: SC129765)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Connon Brothers Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr R Connon
Mr G F Warrander





REGISTERED OFFICE: Suite A
1 Albyn Place
Aberdeen
AB10 1BR





REGISTERED NUMBER: SC129765 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Connon Brothers Limited (Registered number: SC129765)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,841,629 1,648,775

CURRENT ASSETS
Stocks 409,054 517,485
Debtors 5 630,385 852,154
Cash at bank 330,128 245,671
1,369,567 1,615,310
CREDITORS
Amounts falling due within one year 6 1,495,407 1,470,487
NET CURRENT (LIABILITIES)/ASSETS (125,840 ) 144,823
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,715,789

1,793,598

CREDITORS
Amounts falling due after more than one
year

7

(277,295

)

(452,931

)

PROVISIONS FOR LIABILITIES (285,493 ) (225,794 )
NET ASSETS 1,153,001 1,114,873

CAPITAL AND RESERVES
Called up share capital 28,369 28,369
Share premium 3,431 3,431
Retained earnings 1,121,201 1,083,073
1,153,001 1,114,873

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Connon Brothers Limited (Registered number: SC129765)

Balance Sheet - continued
30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





Mr R Connon - Director


Connon Brothers Limited (Registered number: SC129765)

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

1. STATUTORY INFORMATION

Connon Brothers Limited 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.

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 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 - 20% on cost and 10% on cost
Fixtures and fittings - 20% on cost and 10% on cost
Motor vehicles - 10% on cost
Computer equipment - 20% on cost

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 Statement of Income and Retained Earnings, 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.

Connon Brothers Limited (Registered number: SC129765)

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

2. ACCOUNTING POLICIES - continued

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 16 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 575,653 1,077,240 52,169
Additions 78,517 184,005 520
Disposals - (11,500 ) -
At 30 April 2024 654,170 1,249,745 52,689
DEPRECIATION
At 1 May 2023 122,651 696,169 50,792
Charge for year - 67,099 401
Eliminated on disposal - (575 ) -
At 30 April 2024 122,651 762,693 51,193
NET BOOK VALUE
At 30 April 2024 531,519 487,052 1,496
At 30 April 2023 453,002 381,071 1,377

Connon Brothers Limited (Registered number: SC129765)

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

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 1,284,649 18,139 3,007,850
Additions 158,263 - 421,305
Disposals (75,704 ) - (87,204 )
At 30 April 2024 1,367,208 18,139 3,341,951
DEPRECIATION
At 1 May 2023 474,916 14,547 1,359,075
Charge for year 127,120 3,049 197,669
Eliminated on disposal (55,847 ) - (56,422 )
At 30 April 2024 546,189 17,596 1,500,322
NET BOOK VALUE
At 30 April 2024 821,019 543 1,841,629
At 30 April 2023 809,733 3,592 1,648,775

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2023 176,131 490,397 666,528
Additions 110,910 75,700 186,610
Transfer to ownership - (198,262 ) (198,262 )
At 30 April 2024 287,041 367,835 654,876
DEPRECIATION
At 1 May 2023 1,767 83,113 84,880
Charge for year 25,932 38,237 64,169
Transfer to ownership - (56,369 ) (56,369 )
At 30 April 2024 27,699 64,981 92,680
NET BOOK VALUE
At 30 April 2024 259,342 302,854 562,196
At 30 April 2023 174,364 407,284 581,648

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 541,747 728,501
Other debtors 88,638 123,653
630,385 852,154

Connon Brothers Limited (Registered number: SC129765)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 368,726 463,116
Hire purchase contracts 148,475 177,079
Trade creditors 761,897 685,791
Taxation and social security 75,595 14,725
Other creditors 140,714 129,776
1,495,407 1,470,487

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 170,105 306,389
Hire purchase contracts 107,190 146,542
277,295 452,931

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 538,831 769,505

Bank borrowings are secured by a bond and floating charge over all property and assets belonging to the company.

9. CAPITAL COMMITMENTS
30.4.24 30.4.23
£    £   
Contracted but not provided for in the
financial statements 50,000 151,574

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
Mr R Connon
Balance outstanding at start of year 9,541 (2,376 )
Amounts advanced - 175,841
Amounts repaid (10,000 ) (163,924 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (459 ) 9,541

Connon Brothers Limited (Registered number: SC129765)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr G F Warrander
Balance outstanding at start of year 908 (92 )
Amounts advanced - 1,000
Amounts repaid (1,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (92 ) 908

11. ULTIMATE CONTROLLING PARTY

The company is controlled by the director Mr R Connon and his wife Mrs K Connon, who between them own 95% of the issued share capital.