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REGISTERED NUMBER: SC325512 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

JOHN AITKEN LIMITED

JOHN AITKEN LIMITED (REGISTERED NUMBER: SC325512)






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


JOHN AITKEN LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: Mr J Aitken
Mrs V Aitken





SECRETARY: Mrs V Aitken





REGISTERED OFFICE: 3E Wallace House
Maxwell Place
Stirling
Stirlingshire
FK8 1JU





REGISTERED NUMBER: SC325512 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

JOHN AITKEN LIMITED (REGISTERED NUMBER: SC325512)

BALANCE SHEET
31 March 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 26,943 -
Tangible assets 5 57,378 -
Investments 6 1,365,934 100
Investment property 7 3,257,830 -
4,708,085 100

CURRENT ASSETS
Debtors 8 807,305 -
Cash at bank 5,998,989 -
6,806,294 -
CREDITORS
Amounts falling due within one year 9 39,480 -
NET CURRENT ASSETS 6,766,814 -
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,474,899

100

PROVISIONS FOR LIABILITIES 10 82,205 -
NET ASSETS 11,392,694 100

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 11,392,594 -
SHAREHOLDERS' FUNDS 11,392,694 100

JOHN AITKEN LIMITED (REGISTERED NUMBER: SC325512)

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 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.

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:





Mr J Aitken - Director


JOHN AITKEN LIMITED (REGISTERED NUMBER: SC325512)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

John Aitken 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.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about John Aitken Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable in relation to property income, excluding discounts, rebates and other sales taxes.

INTANGIBLE ASSETS
Intangible assets are initially recorded at cost. They are not amortised as the residual value is expected to be higher than the cost.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% per annum reducing balance
Motor vehicles - 25% per annum reducing balance

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost. The investment was sold in the year with the gain on sale recognised in profit or loss.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

JOHN AITKEN LIMITED (REGISTERED NUMBER: SC325512)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), 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 Statement of comprehensive income.

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.

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.

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.

OTHER INVESTMENTS
Other investments are held at fair value which is based on the prevailing market price.

3. EMPLOYEES AND DIRECTORS

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

JOHN AITKEN LIMITED (REGISTERED NUMBER: SC325512)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Cherished
plates
£   
COST
Additions 26,943
At 31 March 2024 26,943
NET BOOK VALUE
At 31 March 2024 26,943

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
Additions 3,168 88,458 91,626
Disposals - (31,410 ) (31,410 )
At 31 March 2024 3,168 57,048 60,216
DEPRECIATION
Charge for year 461 2,978 3,439
Eliminated on disposal - (601 ) (601 )
At 31 March 2024 461 2,377 2,838
NET BOOK VALUE
At 31 March 2024 2,707 54,671 57,378

6. FIXED ASSET INVESTMENTS

2024 2023
as restated
£    £   
Shares in group undertakings - 100
Other investments not loans 1,365,934 -
1,365,934 100

JOHN AITKEN LIMITED (REGISTERED NUMBER: SC325512)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

6. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1 April 2023 100
Disposals (100 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 100

Investments (neither listed nor unlisted) were as follows:
2024 2023
as restated
£    £   
Additions 1,227,105 -
Change in value during
the year 138,829 -
1,365,934 -

The investments were transferred from a subsidiary undertaking as part of a distribution in specie during the year.The investments were revalued to the fair value based on the prevailing markets rates.

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 3,257,830
At 31 March 2024 3,257,830
NET BOOK VALUE
At 31 March 2024 3,257,830

The properties were valued on 23 May 2023 by Clyde Property when they were transferred to the company by a distribution in specie.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Other debtors 807,305 -

JOHN AITKEN LIMITED (REGISTERED NUMBER: SC325512)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade creditors 1,842 -
Taxation and social security 1,980 -
Other creditors 35,658 -
39,480 -

10. PROVISIONS FOR LIABILITIES
2024 2023
as restated
£    £   
Deferred tax
Accelerated capital allowances 13,292 -
Revalued assets 68,913 -
82,205 -

Deferred
tax
£   
Charge to Statement of Income and Retained Earnings during year 82,205
Balance at 31 March 2024 82,205

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
17 Ordinary A £1 17 -
17 Ordinary B £1 17 -
33 Ordinary C £1 33 -
33 Ordinary D £1 33 -
100 -

Allotted and issued:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
NIL Ordinary £1 - 100
(2023 - 100 )

JOHN AITKEN LIMITED (REGISTERED NUMBER: SC325512)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to/(from) directors subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

2024 2023
as restated
£    £   
Mr J Aitken and Mrs V Aitken
Balance outstanding at start of year - -
Amounts advanced 29,367 -
Amounts repaid (51,762 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (22,395 ) -

Interest is charged on loans at 2.5% per annum on any balance over £10,000. There are no fixed repayments terms.

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14. SHARE RESTRUCTURE

On 23rd August 2022 a 'share for share' exchange was entered into with the shareholders of Aitken Laboratories Limited creating a group structure. These shares were subsequently sold to a third party during the year.