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REGISTERED NUMBER: SC278341 (Scotland)















Financial Statements for the Year Ended 29th February 2024

for

Boyd Group (Scotland) Limited

Boyd Group (Scotland) Limited (Registered number: SC278341)






Contents of the Financial Statements
for the Year Ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Boyd Group (Scotland) Limited

Company Information
for the Year Ended 29th February 2024







DIRECTORS: R Boyd
D R Boyd





SECRETARY: Ms J Marshall





REGISTERED OFFICE: 26/34 Terregles Road
Dumfries
DG2 9HB





REGISTERED NUMBER: SC278341 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

Boyd Group (Scotland) Limited (Registered number: SC278341)

Balance Sheet
29th February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 172,073 130,364
172,073 130,364

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 6 106,543 92,315
Cash at bank and in hand 12,668 22,386
124,211 119,701
CREDITORS
Amounts falling due within one year 7 (189,059 ) (148,458 )
NET CURRENT LIABILITIES (64,848 ) (28,757 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

107,225

101,607

PROVISIONS FOR LIABILITIES - (2,332 )
NET ASSETS 107,225 99,275

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 107,125 99,175
SHAREHOLDERS' FUNDS 107,225 99,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 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 29th November 2024 and were signed on its behalf by:





R Boyd - Director


Boyd Group (Scotland) Limited (Registered number: SC278341)

Notes to the Financial Statements
for the Year Ended 29th February 2024

1. STATUTORY INFORMATION

Boyd Group (Scotland) 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. 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 the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The assets are reviewed for impairment if there are any factors that indicate the carrying amount may be impaired.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

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.

Boyd Group (Scotland) Limited (Registered number: SC278341)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st March 2023
and 29th February 2024 40,000
AMORTISATION
At 1st March 2023
and 29th February 2024 40,000
NET BOOK VALUE
At 29th February 2024 -
At 28th February 2023 -

Boyd Group (Scotland) Limited (Registered number: SC278341)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st March 2023 118,089 19,351 30,460 13,581 181,481
Additions 9,269 3,639 32,295 - 45,203
At 29th February 2024 127,358 22,990 62,755 13,581 226,684
DEPRECIATION
At 1st March 2023 - 13,576 30,160 7,381 51,117
Charge for year - 1,189 1,375 930 3,494
At 29th February 2024 - 14,765 31,535 8,311 54,611
NET BOOK VALUE
At 29th February 2024 127,358 8,225 31,220 5,270 172,073
At 28th February 2023 118,089 5,775 300 6,200 130,364

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 96,116 91,989
Loan to Happy Feet Ltd 206 206
Deferred tax asset 10,101 -
Prepayments and accrued income 120 120
106,543 92,315

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 27,580 9,412
Trade creditors 69,959 38,022
Tax 7,340 11,947
Social security and other taxes 1,198 5,676
VAT - 3,562
Directors' current accounts 82,982 79,839
189,059 148,458

8. RELATED PARTY DISCLOSURES

There were no related party transactions in this year or the previous year.

9. ULTIMATE CONTROLLING PARTY

The controlling party is R Boyd.

Raymond Boyd has ultimate control of the company as he owns the entire issued share capital.