4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 15,000 15,000 15,000 xbrli:pure xbrli:shares iso4217:GBP SC146341 2023-04-01 2024-03-31 SC146341 2024-03-31 SC146341 2023-03-31 SC146341 2022-04-01 2023-03-31 SC146341 2023-03-31 SC146341 2022-03-31 SC146341 core:PlantMachinery 2023-04-01 2024-03-31 SC146341 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC146341 bus:Director1 2023-04-01 2024-03-31 SC146341 core:LandBuildings 2023-03-31 SC146341 core:PlantMachinery 2023-03-31 SC146341 core:LandBuildings 2024-03-31 SC146341 core:PlantMachinery 2024-03-31 SC146341 core:WithinOneYear 2024-03-31 SC146341 core:WithinOneYear 2023-03-31 SC146341 core:AfterOneYear 2024-03-31 SC146341 core:AfterOneYear 2023-03-31 SC146341 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 SC146341 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 SC146341 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 SC146341 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 SC146341 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC146341 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC146341 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC146341 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC146341 core:ShareCapital 2024-03-31 SC146341 core:ShareCapital 2023-03-31 SC146341 core:RevaluationReserve 2024-03-31 SC146341 core:RevaluationReserve 2023-03-31 SC146341 core:RevaluationPropertyPlantEquipmentDeferredTax 2024-03-31 SC146341 core:RevaluationPropertyPlantEquipmentDeferredTax 2023-03-31 SC146341 core:LandBuildings 2023-03-31 SC146341 core:PlantMachinery 2023-03-31 SC146341 bus:SmallEntities 2023-04-01 2024-03-31 SC146341 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC146341 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC146341 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC146341 bus:FullAccounts 2023-04-01 2024-03-31 SC146341 bus:OrdinaryShareClass1 2024-03-31 SC146341 bus:OrdinaryShareClass1 2023-03-31 SC146341 core:OfficeEquipment 2023-04-01 2024-03-31 SC146341 core:IntangibleExplorationEvaluationAssets 2024-03-31 SC146341 core:IntangibleExplorationEvaluationAssets 2023-03-31 SC146341 core:TangibleExplorationEvaluationAssets 2023-03-31 SC146341 core:TangibleExplorationEvaluationAssets 2023-04-01 2024-03-31 SC146341 core:TangibleExplorationEvaluationAssets 2024-03-31 SC146341 bus:Chairman 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: SC146341
J.R.M. (Scotland) Ltd
Filleted Unaudited Financial Statements
31 March 2024
J.R.M. (Scotland) Ltd
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
2
Notes to the financial statements
4
J.R.M. (Scotland) Ltd
Statement of Income and Retained Earnings
Year ended 31 March 2024
2024
2023
Note
£
£
Dividends paid and payable
( 35,000)
( 35,000)
Retained earnings at the start of the year
1,589,870
1,401,664
------------
------------
Retained earnings at the end of the year
1,590,214
1,589,870
------------
------------
J.R.M. (Scotland) Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
15,000
15,000
Tangible assets
6
2,258,204
2,261,780
------------
------------
2,273,204
2,276,780
Current assets
Stocks
200,424
200,424
Debtors
7
1,480,774
1,754,211
Cash at bank and in hand
570,784
198,932
------------
------------
2,251,982
2,153,567
Creditors: amounts falling due within one year
8
1,804,512
1,681,053
------------
------------
Net current assets
447,470
472,514
------------
------------
Total assets less current liabilities
2,720,674
2,749,294
Creditors: amounts falling due after more than one year
9
476,148
505,112
Provisions
Taxation including deferred tax
47,378
47,378
------------
------------
Net assets
2,197,148
2,196,804
------------
------------
J.R.M. (Scotland) Ltd
Statement of Financial Position (continued)
31 March 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
11
100
100
Fair value reserve (undistributable)
606,834
606,834
Profit and loss account
1,590,214
1,589,870
------------
------------
Shareholders funds
2,197,148
2,196,804
------------
------------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
Mr J R Morrison
Director
Company registration number: SC146341
J.R.M. (Scotland) Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 56 Torridon Road, Broughty Ferry, Dundee, DD5 3JH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Going concern
The directors have assessed that the company has sufficient resources to meet the ongoing costs of the company for the foreseeable future. For this reason the financial statements have been prepared on a going concern basis.
Revenue recognition
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.
Corporation & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
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:
Plant & Machinery
-
25% reducing balance
Office Equipment
-
25% straight line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
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 stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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 as a finance cost 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 4 (2023: 5 ).
5. Intangible assets
Investments
£
Cost
At 1 April 2023 and 31 March 2024
15,000
--------
Amortisation
At 1 April 2023 and 31 March 2024
--------
Carrying amount
At 31 March 2024
15,000
--------
At 31 March 2023
15,000
--------
6. Tangible assets
Investment Properties
Plant and machinery
Equipment
Total
£
£
£
£
Cost
At 1 April 2023
2,241,452
35,978
358
2,277,788
Additions
2,098
2,098
------------
--------
-------
------------
At 31 March 2024
2,241,452
35,978
2,456
2,279,886
------------
--------
-------
------------
Depreciation
At 1 April 2023
15,740
268
16,008
Charge for the year
5,060
614
5,674
------------
--------
-------
------------
At 31 March 2024
20,800
882
21,682
------------
--------
-------
------------
Carrying amount
At 31 March 2024
2,241,452
15,178
1,574
2,258,204
------------
--------
-------
------------
At 31 March 2023
2,241,452
20,238
90
2,261,780
------------
--------
-------
------------
The company director revalued the properties at market value at 31 March 2024.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Investment Properties
£
At 31 March 2024
Aggregate cost
1,586,973
Aggregate depreciation
------------
Carrying value
1,586,973
------------
At 31 March 2023
Aggregate cost
1,586,973
Aggregate depreciation
------------
Carrying value
1,586,973
------------
7. Debtors
2024
2023
£
£
Trade debtors
7,646
12,159
Other debtors
1,473,115
1,742,052
------------
------------
1,480,761
1,754,211
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
150,189
149,587
Trade creditors
4,183
14,605
Corporation tax
12,386
64,580
Social security and other taxes
13,224
12,426
Other creditors
1,624,530
1,439,855
------------
------------
1,804,512
1,681,053
------------
------------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
476,148
505,112
---------
---------
Included within creditors: amounts falling due after more than one year is an amount of £311,831 (2023: £315,066) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions
47,378
47,378
--------
--------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Revaluation of tangible assets
47,378
47,378
--------
--------
11. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
12. Director's advances, credits and guarantees
The company was under the control of Mr J.R. Morrison throughout the current and previous year. At the year end the company was due to repay Mr J R Morrison £80,077. The loan is interest free and repayable on demand. A loan of £101,990 to Inverness Caley Thistle Concert Company Limited has been written off. The company was dissolved on 27 June 2024. Mr J R Morrison was a director and shareholder in that company.