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REGISTERED NUMBER: SC448966 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

H & M Ferguson Ltd

H & M Ferguson Ltd (Registered number: SC448966)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


H & M Ferguson Ltd (Registered number: SC448966)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,528,792 1,232,011

CURRENT ASSETS
Stocks 39,765 40,000
Debtors 5 317,442 253,650
Cash at bank and in hand 189,259 125,725
546,466 419,375
CREDITORS
Amounts falling due within one year 6 (619,984 ) (585,381 )
NET CURRENT LIABILITIES (73,518 ) (166,006 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,455,274

1,066,005

CREDITORS
Amounts falling due after more than one year 7 (337,536 ) (276,393 )

PROVISIONS FOR LIABILITIES (352,909 ) (288,903 )
NET ASSETS 764,829 500,709

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 764,825 500,705
SHAREHOLDERS' FUNDS 764,829 500,709

H & M Ferguson Ltd (Registered number: SC448966)

Balance Sheet - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





Mr Brian Alexander Ferguson - Director


H & M Ferguson Ltd (Registered number: SC448966)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

H & M Ferguson Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC448966. The registered office is West Foulshiels Farm, Bathgate, EH47 9AA.

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 represents net invoiced sales of goods and services in respect of coach hires, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance, 15% on reducing balance and not provided

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

H & M Ferguson Ltd (Registered number: SC448966)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 64 (2023 - 61 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 2,018,182
Additions 549,086
Disposals (170,700 )
At 30 April 2024 2,396,568
DEPRECIATION
At 1 May 2023 786,171
Charge for year 199,735
Eliminated on disposal (118,130 )
At 30 April 2024 867,776
NET BOOK VALUE
At 30 April 2024 1,528,792
At 30 April 2023 1,232,011

H & M Ferguson Ltd (Registered number: SC448966)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2023 905,469
Additions 410,632
Transfer to ownership (369,729 )
At 30 April 2024 946,372
DEPRECIATION
At 1 May 2023 216,096
Charge for year 122,147
Transfer to ownership (182,914 )
At 30 April 2024 155,329
NET BOOK VALUE
At 30 April 2024 791,043
At 30 April 2023 689,373

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 317,442 251,362
Other debtors - 2,288
317,442 253,650

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 38,250 38,250
Hire purchase contracts 187,159 204,113
Trade creditors 32,472 8,317
Taxation and social security 45,255 49,099
Other creditors 316,848 285,602
619,984 585,381

H & M Ferguson Ltd (Registered number: SC448966)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 38,250 76,500
Hire purchase contracts 299,286 199,893
337,536 276,393

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Hire purchase contracts 486,445 404,006

Balances due on hire purchase contracts are secured upon the assets to which they relate.