23 30/04/2024 2024-04-30 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-05-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP SC695633 2023-05-01 2024-04-30 SC695633 2024-04-30 SC695633 2023-04-30 SC695633 2022-05-01 2023-04-30 SC695633 2023-04-30 SC695633 2022-04-30 SC695633 core:LandBuildings core:LongLeaseholdAssets 2023-05-01 2024-04-30 SC695633 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 SC695633 core:MotorVehicles 2023-05-01 2024-04-30 SC695633 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC695633 bus:Director1 2023-05-01 2024-04-30 SC695633 core:LandBuildings core:LongLeaseholdAssets 2023-04-30 SC695633 core:FurnitureFittingsToolsEquipment 2023-04-30 SC695633 core:MotorVehicles 2023-04-30 SC695633 core:LandBuildings core:LongLeaseholdAssets 2024-04-30 SC695633 core:FurnitureFittingsToolsEquipment 2024-04-30 SC695633 core:MotorVehicles 2024-04-30 SC695633 core:WithinOneYear 2024-04-30 SC695633 core:WithinOneYear 2023-04-30 SC695633 core:AfterOneYear 2024-04-30 SC695633 core:ShareCapital 2024-04-30 SC695633 core:ShareCapital 2023-04-30 SC695633 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC695633 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC695633 bus:OrdinaryShareClass1 core:ShareCapital 2024-04-30 SC695633 bus:OrdinaryShareClass1 core:ShareCapital 2023-04-30 SC695633 core:LandBuildings core:LongLeaseholdAssets 2023-04-30 SC695633 core:FurnitureFittingsToolsEquipment 2023-04-30 SC695633 core:MotorVehicles 2023-04-30 SC695633 bus:SmallEntities 2023-05-01 2024-04-30 SC695633 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC695633 bus:FullAccounts 2023-05-01 2024-04-30 SC695633 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC695633 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30
Company registration number: SC695633
J Borthwick Commercial Ltd
Unaudited filleted financial statements
30 April 2024
J Borthwick Commercial Ltd
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 393,044 164,621
_______ _______
393,044 164,621
Current assets
Stocks 185,100 174,400
Debtors 6 409,437 357,364
Cash at bank and in hand 168,483 202,306
_______ _______
763,020 734,070
Creditors: amounts falling due
within one year 7 ( 356,686) ( 472,200)
_______ _______
Net current assets 406,334 261,870
_______ _______
Total assets less current liabilities 799,378 426,491
Creditors: amounts falling due
after more than one year 8 ( 52,258) -
_______ _______
Net assets 747,120 426,491
_______ _______
Capital and reserves
Called up share capital 9 1 1
Profit and loss account 747,119 426,490
_______ _______
Shareholder funds 747,120 426,491
_______ _______
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 January 2025 , and are signed on behalf of the board by:
Ryan Stewart Borthwick
Director
Company registration number: SC695633
J Borthwick Commercial Ltd
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in Scotland ( SC695633 ). The address of the registered office is 29 York Place, Edinburgh, EH1 3HP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The level of rounding in the financial statements is to the nearest £1.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property - 10 % straight line
Fittings fixtures and equipment - 20 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.Cash at bank and in hand includes cash and short term highly liquid investments.Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 23 (2023: 19 ).
5. Tangible assets
Long leasehold property Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 18,261 74,053 80,330 172,644
Additions - 277,411 57,619 335,030
_______ _______ _______ _______
At 30 April 2024 18,261 351,464 137,949 507,674
_______ _______ _______ _______
Depreciation
At 1 May 2023 1,826 2,789 3,409 8,024
Charge for the year 1,826 70,293 34,487 106,606
_______ _______ _______ _______
At 30 April 2024 3,652 73,082 37,896 114,630
_______ _______ _______ _______
Carrying amount
At 30 April 2024 14,609 278,382 100,053 393,044
_______ _______ _______ _______
At 30 April 2023 16,435 71,264 76,921 164,620
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 367,972 357,364
Other debtors 41,465 -
_______ _______
409,437 357,364
_______ _______
Other debtors
Prepayments and accrued income 41,465 -
_______ | _______ |
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 217,252 224,841
Corporation tax 32,869 57,743
Social security and other taxes 53,905 22,204
Other creditors 52,660 167,412
_______ _______
356,686 472,200
_______ _______
Other creditors
Accruals and deferred income 6,823 6,651
Other 45,837 45,837
_______ | _______ |
52,660 52,488
_______ | _______ |
Secured creditors 30,890 -
_______ | _______ |
HP creditors are secured against the assets provided under the finance agreements.
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 52,258 -
_______ _______
Secured creditors 52,258 -
_______ | _______ |
9. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 1 1 1 1
_______ _______ _______ _______