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REGISTERED NUMBER: SC379031 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2024

FOR

B & J GREIG JOINERY (SCOTLAND) LTD

B & J GREIG JOINERY (SCOTLAND) LTD (REGISTERED NUMBER: SC379031)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


B & J GREIG JOINERY (SCOTLAND) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTOR: B Greig





REGISTERED OFFICE: Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN





REGISTERED NUMBER: SC379031 (Scotland)





ACCOUNTANTS: Goldwells Ltd
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN

B & J GREIG JOINERY (SCOTLAND) LTD (REGISTERED NUMBER: SC379031)

STATEMENT OF FINANCIAL POSITION
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 180,369 121,117

CURRENT ASSETS
Stocks 62,638 54,325
Debtors 5 165,692 108,193
Cash at bank 313,351 212,775
541,681 375,293
CREDITORS
Amounts falling due within one year 6 199,012 181,089
NET CURRENT ASSETS 342,669 194,204
TOTAL ASSETS LESS CURRENT
LIABILITIES

523,038

315,321

CREDITORS
Amounts falling due after more than one year 7 39,375 52,875
NET ASSETS 483,663 262,446

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 483,662 262,445
SHAREHOLDERS' FUNDS 483,663 262,446

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 5th February 2025 and were signed by:



B Greig - Director


B & J GREIG JOINERY (SCOTLAND) LTD (REGISTERED NUMBER: SC379031)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024

1. STATUTORY INFORMATION

B & J Greig Joinery (Scotland) Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

B & J GREIG JOINERY (SCOTLAND) LTD (REGISTERED NUMBER: SC379031)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2023 206,388
Additions 119,375
At 31st May 2024 325,763
DEPRECIATION
At 1st June 2023 85,271
Charge for year 60,123
At 31st May 2024 145,394
NET BOOK VALUE
At 31st May 2024 180,369
At 31st May 2023 121,117

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 92,842 33,572
VAT 37,652 39,423
Inter Co - KBP (Scotland) Ltd 35,198 35,198
165,692 108,193

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 25,367 28,500
Trade creditors 27,509 82,806
Tax 70,655 12,868
Social security and other taxes 6,724 2,127
Other creditors 2,123 1,835
Directors' current accounts 66,634 52,953
199,012 181,089

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 39,375 52,875