IRIS Accounts Production v24.3.0.553 SC029516 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC0295162023-03-31SC0295162024-03-31SC0295162023-04-012024-03-31SC0295162022-03-31SC0295162022-04-012023-03-31SC0295162023-03-31SC029516ns15:Scotland2023-04-012024-03-31SC029516ns14:PoundSterling2023-04-012024-03-31SC029516ns10:Director12023-04-012024-03-31SC029516ns10:PrivateLimitedCompanyLtd2023-04-012024-03-31SC029516ns10:SmallEntities2023-04-012024-03-31SC029516ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31SC029516ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-31SC029516ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC029516ns10:FullAccounts2023-04-012024-03-31SC029516ns10:OrdinaryShareClass12023-04-012024-03-31SC029516ns10:Director22023-04-012024-03-31SC029516ns10:Director32023-04-012024-03-31SC029516ns10:Director42023-04-012024-03-31SC029516ns10:CompanySecretary12023-04-012024-03-31SC029516ns10:RegisteredOffice2023-04-012024-03-31SC029516ns5:CurrentFinancialInstruments2023-03-31SC029516ns5:CurrentFinancialInstruments2024-03-31SC029516ns5:Non-currentFinancialInstruments2023-03-31SC029516ns5:Non-currentFinancialInstruments2024-03-31SC029516ns5:ShareCapital2023-03-31SC029516ns5:ShareCapital2024-03-31SC029516ns5:RetainedEarningsAccumulatedLosses2023-03-31SC029516ns5:RetainedEarningsAccumulatedLosses2024-03-31SC029516ns5:PlantMachinery2023-04-012024-03-31SC029516ns5:MotorVehicles2023-04-012024-03-31SC029516ns5:PlantMachinery2023-03-31SC029516ns5:MotorVehicles2023-03-31SC029516ns5:PlantMachinery2024-03-31SC029516ns5:MotorVehicles2024-03-31SC029516ns5:PlantMachinery2023-03-31SC029516ns5:MotorVehicles2023-03-31SC029516ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-31SC029516ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-31SC029516ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-31SC029516ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31SC029516ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31SC029516ns5:DeferredTaxation2023-03-31SC029516ns5:DeferredTaxation2024-03-31SC029516ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: SC029516 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

JOHN BROWN (STRONE) LIMITED

JOHN BROWN (STRONE) LIMITED (REGISTERED NUMBER: SC029516)






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 BROWN (STRONE) LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: G Brown
Mrs E Brown
P Galbraith
C I Bence





SECRETARY: Mrs E Brown





REGISTERED OFFICE: Strone Place
5 Hamilton Street
Dunoon
Argyll
PA23 7RG





REGISTERED NUMBER: SC029516 (Scotland)





ACCOUNTANTS: John M Taylor & Co
Chartered Accountants
9 Glasgow Road
PAISLEY
Renfrewshire
PA1 3QS

JOHN BROWN (STRONE) LIMITED (REGISTERED NUMBER: SC029516)

BALANCE SHEET
31 March 2024

31.3.23 31.3.24
£ £ Notes £ £
FIXED ASSETS
90,974 Tangible assets 5 190,897

CURRENT ASSETS
481,512 Stocks 264,856
582,083 Debtors 6 923,843
209,556 Cash at bank and in hand 87,075
1,273,151 1,275,774
CREDITORS
459,202 Amounts falling due within one year 7 549,236
813,949 NET CURRENT ASSETS 726,538
904,923 TOTAL ASSETS LESS CURRENT
LIABILITIES

917,435

CREDITORS
(106,479 ) Amounts falling due after more than one year 8 (86,489 )

(17,285 ) PROVISIONS FOR LIABILITIES 10 (36,270 )
781,159 NET ASSETS 794,676

CAPITAL AND RESERVES
105,000 Called up share capital 11 105,000
676,159 Retained earnings 689,676
781,159 SHAREHOLDERS' FUNDS 794,676

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.

JOHN BROWN (STRONE) LIMITED (REGISTERED NUMBER: SC029516)

BALANCE SHEET - continued
31 March 2024


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:





G Brown - Director


JOHN BROWN (STRONE) LIMITED (REGISTERED NUMBER: SC029516)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

John Brown (Strone) 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. 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 significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Related party exemption
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.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of contracts for on-going services is recognised by reference to the cost at the balance sheet date plus a contribution to profit dependent on the status of services completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant & machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

JOHN BROWN (STRONE) LIMITED (REGISTERED NUMBER: SC029516)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Taxation
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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. Amounts owed to the pension company at the Balance Sheet date are included in Other Creditors at Note 9.

Cash & cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at 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.

Financial instruments
Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 31 ) .

JOHN BROWN (STRONE) LIMITED (REGISTERED NUMBER: SC029516)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant & Motor
Totals machinery vehicles
£ £ £
COST
At 1 April 2023 413,331 190,429 222,902
Additions 144,295 77,555 66,740
Disposals (79,649 ) (41,100 ) (38,549 )
At 31 March 2024 477,977 226,884 251,093
DEPRECIATION
At 1 April 2023 322,357 164,586 157,771
Charge for year 40,225 14,071 26,154
Eliminated on disposal (75,502 ) (40,378 ) (35,124 )
At 31 March 2024 287,080 138,279 148,801
NET BOOK VALUE
At 31 March 2024 190,897 88,605 102,292
At 31 March 2023 90,974 25,843 65,131

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 April 2023
and 31 March 2024 25,688
DEPRECIATION
At 1 April 2023
and 31 March 2024 4,281
NET BOOK VALUE
At 31 March 2024 21,407
At 31 March 2023 21,407

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade debtors 315,559 126,263
Amounts owed by group undertakings 596,273 445,323
Other debtors 12,011 10,497
923,843 582,083

JOHN BROWN (STRONE) LIMITED (REGISTERED NUMBER: SC029516)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Bank loans and overdrafts 40,000 40,000
Hire purchase contracts 24,690 4,823
Trade creditors 230,423 167,744
Taxation and social security 161,714 180,786
Other creditors 92,409 65,849
549,236 459,202

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£ £
Bank loans 50,000 90,000
Hire purchase contracts 36,489 16,479
86,489 106,479

9. SECURED DEBTS

G Brown & Mrs E Brown jointly held a bond and floating charge over the whole assets of the company, this charge was satisfied on 9th July 2024.
In addition, the company had given a guarantee to both, to support the deferred consideration due to them from the John Brown (Strone) Holdings Limited Employee Ownership Trust, in connection with the sale of the immediate parent company's shares to the Trust. All deferred consideration was paid post year end.

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£ £
Deferred tax 36,270 17,285

Deferred tax
£
Balance at 1 April 2023 17,285
Accelerated capital allowances 18,985
Balance at 31 March 2024 36,270

This is in respect of accelerated capital allowances.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £ £
105,000 Ordinary £1 105,000 105,000

JOHN BROWN (STRONE) LIMITED (REGISTERED NUMBER: SC029516)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

12. ULTIMATE CONTROLLING PARTY

John Brown (Strone) Holdings Limited Employee Ownership Trust is the ultimate controlling party,

13. IMMEDIATE PARENT COMPANY

The immediate parent company is John Brown (Strone) Holdings Limited, a company registered in Scotland and whose registered office is Strone Place, 5 Hamilton Street, Dunoon, Argyll, PA23 7RG.