Silverfin false false 31/08/2024 01/09/2023 31/08/2024 Mr B C Gillies 29/07/1998 Mrs K J Gillies 15/03/2000 22 January 2025 The principal activity of the company continued to be that of building reinstatement works. SC188039 2024-08-31 SC188039 bus:Director1 2024-08-31 SC188039 bus:Director2 2024-08-31 SC188039 2023-08-31 SC188039 core:CurrentFinancialInstruments 2024-08-31 SC188039 core:CurrentFinancialInstruments 2023-08-31 SC188039 core:Non-currentFinancialInstruments 2024-08-31 SC188039 core:Non-currentFinancialInstruments 2023-08-31 SC188039 core:ShareCapital 2024-08-31 SC188039 core:ShareCapital 2023-08-31 SC188039 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC188039 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC188039 core:Goodwill 2023-08-31 SC188039 core:Goodwill 2024-08-31 SC188039 core:LeaseholdImprovements 2023-08-31 SC188039 core:PlantMachinery 2023-08-31 SC188039 core:Vehicles 2023-08-31 SC188039 core:FurnitureFittings 2023-08-31 SC188039 core:LeaseholdImprovements 2024-08-31 SC188039 core:PlantMachinery 2024-08-31 SC188039 core:Vehicles 2024-08-31 SC188039 core:FurnitureFittings 2024-08-31 SC188039 bus:OrdinaryShareClass1 2024-08-31 SC188039 2023-09-01 2024-08-31 SC188039 bus:FilletedAccounts 2023-09-01 2024-08-31 SC188039 bus:SmallEntities 2023-09-01 2024-08-31 SC188039 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC188039 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC188039 bus:Director1 2023-09-01 2024-08-31 SC188039 bus:Director2 2023-09-01 2024-08-31 SC188039 core:Goodwill core:TopRangeValue 2023-09-01 2024-08-31 SC188039 core:LeaseholdImprovements core:TopRangeValue 2023-09-01 2024-08-31 SC188039 core:PlantMachinery 2023-09-01 2024-08-31 SC188039 core:Vehicles 2023-09-01 2024-08-31 SC188039 core:FurnitureFittings 2023-09-01 2024-08-31 SC188039 2022-09-01 2023-08-31 SC188039 core:LeaseholdImprovements 2023-09-01 2024-08-31 SC188039 core:CurrentFinancialInstruments 2023-09-01 2024-08-31 SC188039 core:Non-currentFinancialInstruments 2023-09-01 2024-08-31 SC188039 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 SC188039 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC188039 (Scotland)

TOTAL REINSTATEMENT SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH THE REGISTRAR

TOTAL REINSTATEMENT SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024

Contents

TOTAL REINSTATEMENT SERVICES LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2024
TOTAL REINSTATEMENT SERVICES LIMITED

BALANCE SHEET (continued)

AS AT 31 AUGUST 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 5 577,426 520,927
577,426 520,927
Current assets
Stocks 6 2,074,477 1,271,441
Debtors 7 1,601,506 1,402,578
Cash at bank and in hand 792,389 722,572
4,468,372 3,396,591
Creditors: amounts falling due within one year 8 ( 1,545,428) ( 1,289,841)
Net current assets 2,922,944 2,106,750
Total assets less current liabilities 3,500,370 2,627,677
Creditors: amounts falling due after more than one year 9 ( 45,674) ( 128,371)
Provision for liabilities 10 ( 133,264) ( 127,867)
Net assets 3,321,432 2,371,439
Capital and reserves
Called-up share capital 11 2 2
Profit and loss account 3,321,430 2,371,437
Total shareholder's funds 3,321,432 2,371,439

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Total Reinstatement Services Limited (registered number: SC188039) were approved and authorised for issue by the Board of Directors on 22 January 2025. They were signed on its behalf by:

Mr B C Gillies
Director
TOTAL REINSTATEMENT SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
TOTAL REINSTATEMENT SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Total Reinstatement Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Johnston Carmichael Unit 2a, The Paddock, Stirling Agricultural Centre, Stirling, FK9 4RN, Scotland, United Kingdom. The principal place of business is Queenshaugh Farm, PO Box 21038, Stirling, Stirlingshire, United Kingdom, FK8 1XJ.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 65 57

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 September 2023 23,702 23,702
At 31 August 2024 23,702 23,702
Accumulated amortisation
At 01 September 2023 23,702 23,702
At 31 August 2024 23,702 23,702
Net book value
At 31 August 2024 0 0
At 31 August 2023 0 0

5. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 September 2023 69,237 162,306 766,049 101,351 1,098,943
Additions 0 11,488 224,364 5,023 240,875
Disposals 0 ( 7,000) ( 117,617) 0 ( 124,617)
At 31 August 2024 69,237 166,794 872,796 106,374 1,215,201
Accumulated depreciation
At 01 September 2023 69,237 79,552 361,527 67,700 578,016
Charge for the financial year 0 12,804 114,067 6,915 133,786
Disposals 0 ( 1,941) ( 72,086) 0 ( 74,027)
At 31 August 2024 69,237 90,415 403,508 74,615 637,775
Net book value
At 31 August 2024 0 76,379 469,288 31,759 577,426
At 31 August 2023 0 82,754 404,522 33,651 520,927

6. Stocks

2024 2023
£ £
Stocks 21,000 21,000
Work in progress 2,053,477 1,250,441
2,074,477 1,271,441

7. Debtors

2024 2023
£ £
Trade debtors 1,442,828 1,251,759
Amounts owed by directors 149,503 145,848
Prepayments 9,175 4,971
1,601,506 1,402,578

8. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 50,000 50,000
Trade creditors 338,074 287,876
Accruals 183,665 110,330
Taxation and social security 719,295 556,051
Obligations under finance leases and hire purchase contracts (secured) 32,698 52,276
Other creditors 221,696 233,308
1,545,428 1,289,841

The Bank of Scotland hold a Bond and Floating charge over the whole assets of the company.

9. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 37,500 87,500
Obligations under finance leases and hire purchase contracts (secured) 8,174 40,871
45,674 128,371

The Bank of Scotland hold a Bond and Floating charge over the whole assets of the company.

10. Provision for liabilities

2024 2023
£ £
Deferred tax 133,264 127,867

11. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

12. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Burnside Holdings Limited (221,696) (221,696)

The loan is unsecured, interest free and is repayable on demand.

Transactions with the entity's directors

2024 2023
£ £
Directors Loan Account 149,503 145,848

The loan is unsecured and is repayable on demand. Interest is charged at 2%, during the year interest in the sum of £2,484 (2023 - £1,271 ) was paid.

13. Ultimate controlling party

Parent Company:

Burnside Holdings Limited
C/O Johnston Carmichael, Unit 2a, The Paddock, Stirling Agricultural Centre, Stirling, Scotland, FK9 4RN