IRIS Accounts Production v24.3.2.46 SC654515 Board of Directors 28.2.23 26.2.24 26.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC6545152023-02-27SC6545152024-02-26SC6545152023-02-282024-02-26SC6545152022-02-28SC6545152022-03-012023-02-27SC6545152023-02-27SC654515ns15:Scotland2023-02-282024-02-26SC654515ns14:PoundSterling2023-02-282024-02-26SC654515ns10:Director12023-02-282024-02-26SC654515ns10:PrivateLimitedCompanyLtd2023-02-282024-02-26SC654515ns10:SmallEntities2023-02-282024-02-26SC654515ns10:AuditExempt-NoAccountantsReport2023-02-282024-02-26SC654515ns10:SmallCompaniesRegimeForDirectorsReport2023-02-282024-02-26SC654515ns10:SmallCompaniesRegimeForAccounts2023-02-282024-02-26SC654515ns10:FullAccounts2023-02-282024-02-26SC654515ns10:Director22023-02-282024-02-26SC654515ns10:RegisteredOffice2023-02-282024-02-26SC654515ns5:CurrentFinancialInstruments2024-02-26SC654515ns5:CurrentFinancialInstruments2023-02-27SC654515ns5:ShareCapital2024-02-26SC654515ns5:ShareCapital2023-02-27SC654515ns5:RetainedEarningsAccumulatedLosses2024-02-26SC654515ns5:RetainedEarningsAccumulatedLosses2023-02-27SC654515ns5:PlantMachinery2023-02-282024-02-26SC654515ns5:ComputerEquipment2023-02-282024-02-26SC654515ns5:PlantMachinery2023-02-27SC654515ns5:ComputerEquipment2023-02-27SC654515ns5:PlantMachinery2024-02-26SC654515ns5:ComputerEquipment2024-02-26SC654515ns5:PlantMachinery2023-02-27SC654515ns5:ComputerEquipment2023-02-27SC654515ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-26SC654515ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-27SC65451512023-02-282024-02-26
REGISTERED NUMBER: SC654515 (Scotland)











































Craig Rae Ferguson Limited

Unaudited Financial Statements

for the period

28th February 2023 to 26th February 2024






Craig Rae Ferguson Limited (Registered number: SC654515)






Contents of the Financial Statements
for the period 28th February 2023 to 26th February 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


Craig Rae Ferguson Limited

Company Information
for the period 28th February 2023 to 26th February 2024







Directors: C R Ferguson
H S Ferguson





Registered office: 1 Kirkpark
Westruther
Gordon
TD3 6NR





Registered number: SC654515 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Craig Rae Ferguson Limited (Registered number: SC654515)

Balance Sheet
26th February 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 5,601 6,557

Current assets
Stocks 2,000 2,000
Debtors 5 84,090 41,808
Cash at bank 4 11,639
86,094 55,447
Creditors
Amounts falling due within one year 6 23,623 10,761
Net current assets 62,471 44,686
Total assets less current liabilities 68,072 51,243

Provisions for liabilities 1,400 -
Net assets 66,672 51,243

Capital and reserves
Called up share capital 100 100
Retained earnings 66,572 51,143
66,672 51,243

Craig Rae Ferguson Limited (Registered number: SC654515)

Balance Sheet - continued
26th February 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 26th February 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 26th 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 19th December 2024 and were signed on its behalf by:





C R Ferguson - Director


Craig Rae Ferguson Limited (Registered number: SC654515)

Notes to the Financial Statements
for the period 28th February 2023 to 26th February 2024

1. Statutory information

Craig Rae Ferguson 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 arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.

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.
Plant and machinery - at varying rates on cost
Office equipment - 20% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals and directors' loans.

Directors' loans (being repayable on demand), trade debtors, accruals and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the period 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.


Craig Rae Ferguson Limited (Registered number: SC654515)

Notes to the Financial Statements - continued
for the period 28th February 2023 to 26th February 2024

2. Accounting policies - continued
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 period 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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the statement of income and retained earnings in the period in which they are incurred.

Going concern
The director has considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the period was 1 (2023 - NIL ) .

4. Tangible fixed assets
Plant and Office
machinery equipment Totals
£    £    £   
Cost
At 28th February 2023
and 26th February 2024 6,000 2,279 8,279
Depreciation
At 28th February 2023 500 1,222 1,722
Charge for period 500 456 956
At 26th February 2024 1,000 1,678 2,678
Net book value
At 26th February 2024 5,000 601 5,601
At 27th February 2023 5,500 1,057 6,557

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 59,800 19,000
Other debtors 24,290 22,808
84,090 41,808

Craig Rae Ferguson Limited (Registered number: SC654515)

Notes to the Financial Statements - continued
for the period 28th February 2023 to 26th February 2024

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 2,340 -
Taxation and social security 19,283 8,961
Other creditors 2,000 1,800
23,623 10,761

7. Post balance sheet events

Since the year end, on 4th April 2024, a dividend of £400 per share has been declared.

8. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the periods ended 26th February 2024 and 27th February 2023:


2024 2023
£ £
Director 1
Balance outstanding at start of year 22,808 4,399
Amounts advanced 38,390 25,798
Amounts repaid (36,908 ) (7,389 )
Balance outstanding at end of year 24,290 22,808

This loan is unsecured, interest has been charged at the official rates published by HMRC and it is repayable on demand.