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REGISTERED NUMBER: SC267923 (Scotland)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

A.E. STRUTHERS LIMITED

A.E. STRUTHERS LIMITED (REGISTERED NUMBER: SC267923)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

A.E. STRUTHERS LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: G Y Campbell
Mrs P McDowall
L Campbell



REGISTERED OFFICE: 16 Royal Terrace
Glasgow
G3 7NY



REGISTERED NUMBER: SC267923 (Scotland)



ACCOUNTANTS: Davidson & Workman
Chartered Accountants
16 Royal Terrace
GLASGOW
G3 7NY



SOLICITORS: The PRG Partnership
12 Royal Crescent
Glasgow
G3 7SL

A.E. STRUTHERS LIMITED (REGISTERED NUMBER: SC267923)

ABRIDGED BALANCE SHEET
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 209,313 215,075
Investments 5 642 642
209,955 215,717

CURRENT ASSETS
Stocks 164,307 117,028
Debtors 101,990 105,289
Cash at bank and in hand 4,136 7,743
270,433 230,060
CREDITORS
Amounts falling due within one year 205,264 190,425
NET CURRENT ASSETS 65,169 39,635
TOTAL ASSETS LESS CURRENT LIABILITIES 275,124 255,352

CREDITORS
Amounts falling due after more than one year 6 (30,767 ) (36,722 )

PROVISIONS FOR LIABILITIES 9 (657 ) (530 )
NET ASSETS 243,700 218,100

CAPITAL AND RESERVES
Called up share capital 10 20,300 20,300
Revaluation reserve 11 8,308 8,308
Retained earnings 11 215,092 189,492
SHAREHOLDERS' FUNDS 243,700 218,100

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

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

A.E. STRUTHERS LIMITED (REGISTERED NUMBER: SC267923)

ABRIDGED BALANCE SHEET - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 10 October 2024 and were signed on its behalf by:





G Y Campbell - Director


A.E. STRUTHERS LIMITED (REGISTERED NUMBER: SC267923)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

A.E. Struthers 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.

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 each asset over its estimated useful life.
Freehold property - 2% on cost
Web Design - 20% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33.33% on cost or valuation

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 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.

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.

A.E. STRUTHERS LIMITED (REGISTERED NUMBER: SC267923)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash generating unit) is estimated to be less than it's carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash generating unit) is increased to the revised estimate of its recoverable amount but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation surplus.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 341,073
Additions 380
At 31 May 2024 341,453
DEPRECIATION
At 1 June 2023 125,998
Charge for year 6,142
At 31 May 2024 132,140
NET BOOK VALUE
At 31 May 2024 209,313
At 31 May 2023 215,075

A.E. STRUTHERS LIMITED (REGISTERED NUMBER: SC267923)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 June 2023
and 31 May 2024 642
NET BOOK VALUE
At 31 May 2024 642
At 31 May 2023 642

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
31.5.24 31.5.23
£    £   
Repayable by instalments
Bank Loans - 5-10 years 6,947 12,902

7. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 5,955 5,955
Other loans 17,821 -
23,776 5,955

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,955 5,955

Amounts falling due between two and five years:
Bank loans - 2-5 years 17,865 17,865

Amounts falling due in more than five years:

Repayable by instalments
Bank Loans - 5-10 years 6,947 12,902

A.E. STRUTHERS LIMITED (REGISTERED NUMBER: SC267923)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank overdrafts 42,203 34,668

The committed bank overdraft is secured by:

(i) a floating charge over all the company's assets

(ii) standard securities over the following property at Unit 3, Newark Road South, Glenrothes

9. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 657 530

Deferred
tax
£   
Balance at 1 June 2023 530
Charge to Income Statement during year 127
Balance at 31 May 2024 657

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
10,100 Ordinary A £1 10,100 10,100
10,100 Ordinary B £1 10,100 10,100
100 Ordinary C £1 100 100
20,300 20,300

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 June 2023 189,492 8,308 197,800
Profit for the year 31,536 31,536
Dividends (5,936 ) (5,936 )
At 31 May 2024 215,092 8,308 223,400

A.E. STRUTHERS LIMITED (REGISTERED NUMBER: SC267923)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
G Y Campbell
Balance outstanding at start of year 45,065 71,565
Amounts repaid (45,065 ) (26,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 45,065

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
A.E. STRUTHERS 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 Abridged 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 A.E. Struthers Limited for the year ended 31 May 2024 which comprise the Abridged Income Statement, Other Comprehensive Income, Abridged 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 A.E. Struthers 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 A.E. Struthers Limited and state those matters that we have agreed to state to the Board of Directors of A.E. Struthers 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 A.E. Struthers 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 A.E. Struthers Limited. You consider that A.E. Struthers 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 A.E. Struthers 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.






Davidson & Workman
Chartered Accountants
16 Royal Terrace
GLASGOW
G3 7NY


10 October 2024