Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity40true34true SC033496 2023-04-01 2024-03-31 SC033496 2022-01-01 2023-03-31 SC033496 2024-03-31 SC033496 2023-03-31 SC033496 c:Director1 2023-04-01 2024-03-31 SC033496 c:RegisteredOffice 2023-04-01 2024-03-31 SC033496 d:Buildings 2023-04-01 2024-03-31 SC033496 d:PlantMachinery 2023-04-01 2024-03-31 SC033496 d:PlantMachinery 2024-03-31 SC033496 d:PlantMachinery 2023-03-31 SC033496 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC033496 d:CurrentFinancialInstruments 2024-03-31 SC033496 d:CurrentFinancialInstruments 2023-03-31 SC033496 d:Non-currentFinancialInstruments 2024-03-31 SC033496 d:Non-currentFinancialInstruments 2023-03-31 SC033496 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC033496 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC033496 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC033496 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC033496 d:ShareCapital 2024-03-31 SC033496 d:ShareCapital 2023-03-31 SC033496 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC033496 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC033496 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC033496 c:OrdinaryShareClass1 2024-03-31 SC033496 c:OrdinaryShareClass1 2023-03-31 SC033496 c:FRS102 2023-04-01 2024-03-31 SC033496 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC033496 c:FullAccounts 2023-04-01 2024-03-31 SC033496 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC033496 2 2023-04-01 2024-03-31 SC033496 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC033496










ROBERT P. SLIGHT & SONS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
ROBERT P. SLIGHT & SONS LIMITED
 

COMPANY INFORMATION


Director
Mr D R Slight 




Registered number
SC033496



Registered office
Unit B Wallyford Industrial Estate
Wallyford

Musselburgh

EH21 8QJ




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
ROBERT P. SLIGHT & SONS LIMITED
REGISTERED NUMBER: SC033496

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

Tangible fixed assets
 4 
912,361
934,005

  
912,361
934,005

Current assets
  

Stocks
  
5,000
5,000

Debtors: amounts falling due within one year
 5 
573,247
503,591

Debtors: amounts falling due after more than one year
 5 
4,411,516
5,611,159

Cash at bank and in hand
  
195,693
140,072

  
5,185,456
6,259,822

Creditors: amounts falling due within one year
 6 
(705,363)
(856,915)

Net current assets
  
 
 
4,480,093
 
 
5,402,907

Total assets less current liabilities
  
5,392,454
6,336,912

Creditors: amounts falling due after more than one year
 7 
(1,511,056)
(2,750,383)

Provisions for liabilities
  

Deferred tax
  
(216,842)
(221,667)

  
 
 
(216,842)
 
 
(221,667)

Net assets
  
3,664,556
3,364,862


Capital and reserves
  

Called up share capital 
 8 
3,000
3,000

Profit and loss account
  
3,661,556
3,361,862

  
3,664,556
3,364,862

Page 1

 
ROBERT P. SLIGHT & SONS LIMITED
REGISTERED NUMBER: SC033496

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2024.




Mr D R Slight
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
ROBERT P. SLIGHT & SONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Robert P. Slight & Sons Limited is a private company, limited by shares, incorporated in Scotland with registration number SC033496.  The registered office is Unit B Wallyford Industrial Estate, Wallyford, Musselburgh, Scotland, EH21 8QJ.
The company's functional and presentational currency is GBP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
ROBERT P. SLIGHT & SONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
ROBERT P. SLIGHT & SONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Land and buildings
-
10% and 3% straight line
Plant and machinery
-
10% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no nominal consideration are measured at the lower of costs and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
ROBERT P. SLIGHT & SONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 40 (2023 - 34).


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 April 2023
1,861,779


Additions
186,645


Disposals
(79,975)



At 31 March 2024

1,968,449



Depreciation


At 1 April 2023
927,774


Charge for the year on owned assets
159,880


Disposals
(31,566)



At 31 March 2024

1,056,088



Net book value



At 31 March 2024
912,361



At 31 March 2023
934,005

Page 6

 
ROBERT P. SLIGHT & SONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
4,411,516
5,611,159


2024
2023
£
£

Due within one year

Trade debtors
304,396
501,889

Other debtors
256,949
100

Prepayments and accrued income
11,902
1,602

573,247
503,591


Included within other debtors due within one year is a loan to the director amounting to £256,149 (2023 - £nil).


6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
132,000
240,796

Trade creditors
261,750
225,927

Other taxation and social security
241,229
248,425

Other creditors
23,497
105,834

Accruals and deferred income
46,887
35,933

705,363
856,915


The bank loans are secured by a floating charge over the property and all assets of the Company.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,511,056
2,750,383


The bank loans are secured by a floating charge over the property and all assets of the Company.

Page 7

 
ROBERT P. SLIGHT & SONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



3,000 (2023 - 3,000) Ordinary shares of £1.00 each
3,000
3,000



9.


Related party transactions

During the year, the company received payment of £1,199,643 of a loan advanced to Greyshed Properties Limited.  The balance at the year end amounts to £4,411,516 (2023 - £5,611,159)


10.


Controlling party

During the year, the ultimate controlling party was Robert P. Slight & Sons (Holdings) Limited, a company registered in Scotland.


Page 8