IRIS Accounts Production v24.2.0.383 SC193788 Board of Directors Board of Directors 1.2.23 31.1.24 31.1.24 false true false false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC1937882023-01-31SC1937882024-01-31SC1937882023-02-012024-01-31SC1937882022-01-31SC1937882022-02-012023-01-31SC1937882023-01-31SC193788ns15:Scotland2023-02-012024-01-31SC193788ns14:PoundSterling2023-02-012024-01-31SC193788ns10:Director12023-02-012024-01-31SC193788ns10:Director22023-02-012024-01-31SC193788ns10:PrivateLimitedCompanyLtd2023-02-012024-01-31SC193788ns10:SmallEntities2023-02-012024-01-31SC193788ns10:AuditExemptWithAccountantsReport2023-02-012024-01-31SC193788ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-31SC193788ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-31SC193788ns10:FullAccounts2023-02-012024-01-31SC19378812023-02-012024-01-31SC193788ns10:Director32023-02-012024-01-31SC193788ns10:RegisteredOffice2023-02-012024-01-31SC193788ns5:CurrentFinancialInstruments2024-01-31SC193788ns5:CurrentFinancialInstruments2023-01-31SC193788ns5:ShareCapital2024-01-31SC193788ns5:ShareCapital2023-01-31SC193788ns5:RevaluationReserve2024-01-31SC193788ns5:RevaluationReserve2023-01-31SC193788ns5:FurtherSpecificReserve3ComponentTotalEquity2024-01-31SC193788ns5:FurtherSpecificReserve3ComponentTotalEquity2023-01-31SC193788ns5:RetainedEarningsAccumulatedLosses2024-01-31SC193788ns5:RetainedEarningsAccumulatedLosses2023-01-31SC193788ns5:NetGoodwill2023-02-012024-01-31SC193788ns5:PlantMachinery2023-02-012024-01-31SC193788ns5:NetGoodwill2023-01-31SC193788ns5:NetGoodwill2024-01-31SC193788ns5:NetGoodwill2023-01-31SC193788ns5:LandBuildings2023-01-31SC193788ns5:PlantMachinery2023-01-31SC193788ns5:LandBuildings2023-02-012024-01-31SC193788ns5:LandBuildings2024-01-31SC193788ns5:PlantMachinery2024-01-31SC193788ns5:LandBuildings2023-01-31SC193788ns5:PlantMachinery2023-01-31SC193788ns5:CostValuation2023-01-31SC193788ns5:RevaluationsIncreaseDecreaseInInvestments2024-01-31SC193788ns5:CostValuation2024-01-31SC193788ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-31SC193788ns5:WithinOneYearns5:CurrentFinancialInstruments2023-01-31SC193788ns5:RevaluationReserve2023-01-31
REGISTERED NUMBER: SC193788 (Scotland)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

PATTERSONS OF ABERDEEN LIMITED

PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8

Chartered Accountants' Report 9

PATTERSONS OF ABERDEEN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr S J C Patterson
Mrs S Patterson
Mr S J C Patterson





REGISTERED OFFICE: 19-25 Thistle Street
ABERDEEN
AB10 1UY





REGISTERED NUMBER: SC193788 (Scotland)





ACCOUNTANTS: Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL

PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 506,733 399,807
Investments 6 18,083 22,818
Investment property 7 400,000 400,000
924,816 822,625

CURRENT ASSETS
Stocks 185,563 189,146
Debtors 8 6,193 4,866
Cash at bank and in hand 553,309 611,532
745,065 805,544
CREDITORS
Amounts falling due within one year 9 92,407 100,256
NET CURRENT ASSETS 652,658 705,288
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,577,474

1,527,913

PROVISIONS FOR LIABILITIES 26,853 -
NET ASSETS 1,550,621 1,527,913

CAPITAL AND RESERVES
Called up share capital 4 4
Revaluation reserve 10 25,280 25,280
Fair value reserve 10 - (299,871 )
Retained earnings 1,525,337 1,802,500
SHAREHOLDERS' FUNDS 1,550,621 1,527,913

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.

PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

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 31 October 2024 and were signed on its behalf by:




Mr S J C Patterson - Director



Mrs S Patterson - Director


PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Pattersons Of Aberdeen 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 as modified by the revaluation of certain assets.

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

Turnover is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of five years.

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.
Plant and machinery etc - 25% on cost and 25% on reducing balance

Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided (where material) on these gains at the rate expected to apply when the property is sold.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

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.

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.

PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued

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 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 41,500
AMORTISATION
At 1 February 2023
and 31 January 2024 41,500
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 February 2023 250,000 231,860 481,860
Additions - 118,995 118,995
Disposals - (45,931 ) (45,931 )
At 31 January 2024 250,000 304,924 554,924
DEPRECIATION
At 1 February 2023 - 82,053 82,053
Charge for year - 12,069 12,069
Eliminated on disposal - (45,931 ) (45,931 )
At 31 January 2024 - 48,191 48,191
NET BOOK VALUE
At 31 January 2024 250,000 256,733 506,733
At 31 January 2023 250,000 149,807 399,807

PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 January 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2005 25,280 - 25,280
Cost 224,720 304,924 529,644
250,000 304,924 554,924

If Property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 224,720 224,720

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 February 2023 22,818
Revaluations (4,735 )
At 31 January 2024 18,083
NET BOOK VALUE
At 31 January 2024 18,083
At 31 January 2023 22,818

Cost or valuation at 31 January 2024 is represented by:

Other
investments
£   
Valuation in 2015 (145,781 )
Valuation in 2016 (2,911 )
Valuation in 2017 (1,417 )
Valuation in 2018 2,287
Valuation in 2019 (5,116 )
Valuation in 2020 (1,569 )
Valuation in 2021 (9,138 )
Valuation in 2022 7,820
Valuation in 2023 601
Valuation in 2024 (4,735 )
Cost 178,042
18,083

PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 400,000
NET BOOK VALUE
At 31 January 2024 400,000
At 31 January 2023 400,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2015 (100,000 )
Valuation in 2021 (44,646 )
Cost 544,646
400,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 544,646 544,646

Investment property was valued on an open market basis on 31 January 2024 by the directors .

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,723 822
Other debtors 4,470 4,044
6,193 4,866

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 39,900 24,468
Taxation and social security 38,731 60,946
Other creditors 13,776 14,842
92,407 100,256

10. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 February 2023 25,280 (299,871 ) (274,591 )
Transfer to retained earnings - 299,871 299,871

At 31 January 2024 25,280 - 25,280

PATTERSONS OF ABERDEEN LIMITED (REGISTERED NUMBER: SC193788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


11. PENSION COMMITMENTS

The company operates a defined contribution scheme. Amounts outstanding at the year end relating to the defined contribution pension scheme totalled £435 (2023: £412) and are included within trade creditors.

12. RELATED PARTY DISCLOSURES

Details of directors loan account transactions and the year end balance are as follows:
20242023
£   £   

Amount due to directors at start of year81468,752
Received from directors during the year--
Paid to directors during the year(755)(67,938)
Amount due to directors at end of year59814

The loan is interest free and there are no fixed terms of repayment.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PATTERSONS OF ABERDEEN LIMITED


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 Pattersons Of Aberdeen Limited 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 Pattersons Of Aberdeen Limited, 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 Pattersons Of Aberdeen Limited and state those matters that we have agreed to state to the Board of Directors of Pattersons Of Aberdeen Limited, 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 Pattersons Of Aberdeen Limited 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 Pattersons Of Aberdeen Limited. You consider that Pattersons Of Aberdeen Limited 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 Pattersons Of Aberdeen Limited. 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.






Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL


31 October 2024