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REGISTERED NUMBER: SC356720 (Scotland)















Raymond Duguid Limited

Financial Statements For The Year Ended 31 March 2024






Raymond Duguid Limited (Registered number: SC356720)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Raymond Duguid Limited

Company Information
For The Year Ended 31 March 2024







DIRECTOR: R Duguid





REGISTERED OFFICE: Park House Centre
South Street
Elgin
IV30 1JB





REGISTERED NUMBER: SC356720 (Scotland)





ACCOUNTANTS: The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB

Raymond Duguid Limited (Registered number: SC356720)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,150 2,867
2,150 2,867

CURRENT ASSETS
Stocks 3,375 3,470
Debtors 6 9,080 15,653
Cash at bank 47,861 38,394
60,316 57,517
CREDITORS
Amounts falling due within one year 7 11,981 16,158
NET CURRENT ASSETS 48,335 41,359
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,485

44,226

PROVISIONS FOR LIABILITIES 9 408 545
NET ASSETS 50,077 43,681

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 49,977 43,581
SHAREHOLDERS' FUNDS 50,077 43,681

Raymond Duguid Limited (Registered number: SC356720)

Balance Sheet - continued
31 March 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 7 November 2024 and were signed by:





R Duguid - Director


Raymond Duguid Limited (Registered number: SC356720)

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

1. STATUTORY INFORMATION

Raymond Duguid 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.

Goodwill
Goodwill is the amount paid in connection with the acquisition of a business in 2009. After initially being amortised evenly over its initial estimated useful life of twenty years, the remainder (since 2016) is now being amortised evenly over its remaining estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance

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 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.

Raymond Duguid Limited (Registered number: SC356720)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 10,000
AMORTISATION
At 1 April 2023
and 31 March 2024 10,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 April 2023
and 31 March 2024 32,945
DEPRECIATION
At 1 April 2023 30,078
Charge for year 717
At 31 March 2024 30,795
NET BOOK VALUE
At 31 March 2024 2,150
At 31 March 2023 2,867

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 9,080 15,653

Raymond Duguid Limited (Registered number: SC356720)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 3,036 10,621
Taxation and social security 4,651 3,502
Other creditors 4,294 2,035
11,981 16,158

8. SECURED DEBTS

The Royal Bank of Scotland has a floating charge over the assets of the company.

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 408 545

Deferred
tax
£   
Balance at 1 April 2023 545
Provided during year (137 )
Balance at 31 March 2024 408

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 April 2023 43,581
Profit for the year 6,396
At 31 March 2024 49,977

Raymond Duguid Limited (Registered number: SC356720)

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

12. RELATED PARTY DISCLOSURES

R Duguid
is a director in the company.


A interest free loan has been given to the company by the director. No repayment terms have been agreed.

31.3.24 31.3.23
£    £   
Amount due to related party at the balance sheet date 1,068 35

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R Duguid.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Raymond Duguid Limited

The following reproduces the text of the report prepared for the director 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 Director 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 Raymond Duguid Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Raymond Duguid Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Raymond Duguid Limited and state those matters that we have agreed to state to the director of Raymond Duguid Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Raymond Duguid Limited and its director for our work or for this report.

It is your duty to ensure that Raymond Duguid 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 Raymond Duguid Limited. You consider that Raymond Duguid 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 Raymond Duguid 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.






The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB


7 November 2024