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REGISTERED NUMBER: SC701770 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

SUTTIE AND SON LTD

SUTTIE AND SON LTD (REGISTERED NUMBER: SC701770)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SUTTIE AND SON LTD

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTORS: J J Suttie
L Suttie





REGISTERED OFFICE: Unit F, Southend Depot
Orebridge
Thornton
Kirkcaldy
Fife
KY1 4DT





REGISTERED NUMBER: SC701770 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Viewforth House
189 Nicol Street
Kirkcaldy
Fife
KY1 1PF

SUTTIE AND SON LTD (REGISTERED NUMBER: SC701770)

STATEMENT OF FINANCIAL POSITION
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,224 26,118

CURRENT ASSETS
Stocks - 4,167
Debtors 5 1,102 8,805
Cash at bank 41,460 43,776
42,562 56,748
CREDITORS
Amounts falling due within one year 6 29,554 35,080
NET CURRENT ASSETS 13,008 21,668
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,232

47,786

CREDITORS
Amounts falling due after more than one
year

7

17,862

21,385
NET ASSETS 25,370 26,401

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 25,368 26,399
SHAREHOLDERS' FUNDS 25,370 26,401

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

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

SUTTIE AND SON LTD (REGISTERED NUMBER: SC701770)

STATEMENT OF FINANCIAL POSITION - continued
30 June 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 18 November 2024 and were signed on its behalf by:





L Suttie - Director


SUTTIE AND SON LTD (REGISTERED NUMBER: SC701770)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Suttie and Son Ltd 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 consideration received, or receivable for building and construction work undertaken.

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 - 10% per annum reducing balance
Computer Equipment - 25% per annum 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.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.


SUTTIE AND SON LTD (REGISTERED NUMBER: SC701770)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 27,904
Additions 7,602
At 30 June 2024 35,506
DEPRECIATION
At 1 July 2023 1,786
Charge for year 3,496
At 30 June 2024 5,282
NET BOOK VALUE
At 30 June 2024 30,224
At 30 June 2023 26,118

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 2,400
Other debtors 1,102 6,405
1,102 8,805

SUTTIE AND SON LTD (REGISTERED NUMBER: SC701770)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 3,523 3,216
Trade creditors 360 564
Taxation and social security 13,765 20,370
Other creditors 11,906 10,930
29,554 35,080

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 17,862 21,385

8. RELATED PARTY DISCLOSURES

Included in "Other creditors" are amounts totalling £5,717 (2023 - £4,305) due to the directors from the company. The loans are interest free and repayable on demand.