Registered Number
(Scotland)
Unaudited Financial Statements for the Year ended
29 February 2024
Directors | |
Registered Address | |
Registered Number |
Notes | 2024 | 2023 | ||||||
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£ | £ | £ | £ | |||||
Fixed assets | ||||||||
Tangible assets | 3 | |||||||
Current assets | ||||||||
Stocks | 4 | |||||||
Debtors | 5 | |||||||
Cash at bank and on hand | ||||||||
Creditors amounts falling due within one year | 6 | ( | ( | |||||
Net current assets (liabilities) | ( | ( | ||||||
Total assets less current liabilities | ||||||||
Creditors amounts falling due after one year | 7 | ( | ( | |||||
Provisions for liabilities | ( | ( | ||||||
Net assets | ( | |||||||
Capital and reserves | ||||||||
Called up share capital | ||||||||
Profit and loss account | ( | |||||||
Shareholders' funds | ( |
The financial statements were approved and authorised for issue by the Board of Directors on 28 November 2024, and are signed on its behalf by: |
Director Registered Company No. SC558561 |
1. | Accounting policies |
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Statutory information | |
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Statement of compliance | |
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Basis of preparation | |
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Functional and presentation currency | |
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Judgements and key sources of estimation uncertainty | |
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In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below. The useful economic life of the land and buildings have been reviewed considering the care and maintenance of the building. The directors have decided to extend the useful life to 50 years rather than 25 years. The remaining book value will be depreciated at 2% straight line from this year onwards. The effect of this is the carrying value of the land and property is higher by £6,589 than it would be otherwise and the associated deprecation charge is lower by the same amount. |
Turnover policy | |
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Revenue from sale of goods | |
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Revenue from rendering of services | |
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Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. |
Employee benefits | |
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Defined contribution pension plan | |
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Current taxation | |
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Deferred tax | |
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Tangible fixed assets and depreciation | |
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Reducing balance (%) | Straight line (years) | |||
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Land and buildings | ||||
Plant and machinery | ||||
Fixtures and fittings | ||||
Vehicles |
Stocks and work in progress | |
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Cash and cash equivalents | |
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Financial instruments | |
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2. | Average number of employees |
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2024 | 2023 | |||
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Average number of employees during the year |
3. | Tangible fixed assets |
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Total | ||
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£ | ||
Cost or valuation | ||
At 01 March 23 | ||
Additions | ||
At 29 February 24 | ||
Depreciation and impairment | ||
At 01 March 23 | ||
Charge for year | ||
At 29 February 24 | ||
Net book value | ||
At 29 February 24 | ||
At 28 February 23 |
4. | Stocks |
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2024 | 2023 | |||
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£ | £ | |||
Raw materials and consumables | ||||
Total |
5. | Debtors: amounts due within one year |
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2024 | 2023 | |||
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£ | £ | |||
Other debtors | ||||
Prepayments and accrued income | ||||
Total |
6. | Creditors: amounts due within one year |
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2024 | 2023 | |||
---|---|---|---|---|
£ | £ | |||
Trade creditors / trade payables | ||||
Taxation and social security | ||||
Other creditors | ||||
Accrued liabilities and deferred income | ||||
Total |
7. | Creditors: amounts due after one year |
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2024 | 2023 | |||
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£ | £ | |||
Bank borrowings and overdrafts | ||||
Other creditors | ||||
Total |
8. | Creditors: amounts due after 5 years |
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9. | Secured creditors |
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The bank loan is secured by way of a bond and floating charge over the property and the whole assets of the company. Net obligations under hire purchase contracts are secured over the respective assets. |
10. | Obligations under finance leases |
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2024 | 2023 | |||
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£ | £ | |||
Finance lease and HP contracts |
11. | Directors advances, credits and guarantees |
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Brought forward | Amount advanced | Amount repaid | Carried forward | |||||
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£ | £ | £ | £ | |||||