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REGISTERED NUMBER: SC052515 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

HARLEY & CO (PETERHEAD) LIMITED

HARLEY & CO (PETERHEAD) LIMITED (REGISTERED NUMBER: SC052515)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HARLEY & CO (PETERHEAD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Miss M G Dick
Mrs L I H Murphy
Mrs S I H Murray
J C Watson





SECRETARY: Mrs L I H Murphy





REGISTERED OFFICE: 44-46 Queen Street
Peterhead
Aberdeenshire
AB43 1TR





REGISTERED NUMBER: SC052515 (Scotland)

HARLEY & CO (PETERHEAD) LIMITED (REGISTERED NUMBER: SC052515)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 687,593 645,328
Investment property 6 142,500 142,500
830,093 787,828

CURRENT ASSETS
Stocks 537,696 533,308
Debtors 7 4,083,699 4,013,251
Investments 8 1,020,000 1,000,000
Cash at bank and in hand 6,773,987 5,389,798
12,415,382 10,936,357
CREDITORS
Amounts falling due within one year 9 1,556,106 1,327,893
NET CURRENT ASSETS 10,859,276 9,608,464
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,689,369

10,396,292

PROVISIONS FOR LIABILITIES 115,755 110,896
NET ASSETS 11,573,614 10,285,396

CAPITAL AND RESERVES
Called up share capital 32,500 32,500
Share premium 35,000 35,000
Capital redemption reserve 28,500 28,500
Retained earnings 11,477,614 10,189,396
SHAREHOLDERS' FUNDS 11,573,614 10,285,396

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

HARLEY & CO (PETERHEAD) LIMITED (REGISTERED NUMBER: SC052515)

BALANCE SHEET - continued
30 NOVEMBER 2023


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:





Miss M G Dick - Director


HARLEY & CO (PETERHEAD) LIMITED (REGISTERED NUMBER: SC052515)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Harley & Co (Peterhead) 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest pound.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider that there are no estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of the assets and liabilities.

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.
Land and buildings - Straight line over 50 years
Plant and machinery etc - 25% on cost, 10% on cost and 10% to 33.3% on cost and 4 years

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Raw materials are valued at actual purchase price. Cost of finished goods and work in progress includes materials, conversion costs and an appropriate proportion of production overheads, based on normal production levels.


HARLEY & CO (PETERHEAD) LIMITED (REGISTERED NUMBER: SC052515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

3. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2022 - 40 ) .

HARLEY & CO (PETERHEAD) LIMITED (REGISTERED NUMBER: SC052515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 December 2022 195,000 1,322,675 1,517,675
Additions - 146,040 146,040
At 30 November 2023 195,000 1,468,715 1,663,715
DEPRECIATION
At 1 December 2022 35,100 837,247 872,347
Charge for year 3,900 99,875 103,775
At 30 November 2023 39,000 937,122 976,122
NET BOOK VALUE
At 30 November 2023 156,000 531,593 687,593
At 30 November 2022 159,900 485,428 645,328

Cost or valuation at 30 November 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2013 195,000 - 195,000
Cost - 1,468,715 1,468,715
195,000 1,468,715 1,663,715

Heritable properties were values on an existing use basis on 10 October 2013 by F G Burnett, Chartered Surveyors.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 142,500
NET BOOK VALUE
At 30 November 2023 142,500
At 30 November 2022 142,500

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2013 142,500

Investment property was values on an open marker basis on 10 October 2013 by F G Burnett, Chartered Surveyors

HARLEY & CO (PETERHEAD) LIMITED (REGISTERED NUMBER: SC052515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,498,864 1,405,859
Other debtors 2,584,835 2,607,392
4,083,699 4,013,251

8. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 1,020,000 1,000,000

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 344,878 274,462
Taxation and social security 594,220 470,402
Other creditors 617,008 583,029
1,556,106 1,327,893

10. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.