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Registered number: SC148199

Clouston, Otto & Co. Limited

ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2024


Clouston, Otto & Co. Limited

ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2024
DIRECTORS
Greta Penny Tobermann
Lieselotte Penny Tobermann
REGISTERED OFFICE
17 Pilrig Street
Edinburgh
City of Edinburgh
EH6 5AN
COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC148199
SOLICITORS
TP & Low
ACCOUNTANTS
Hodgson and Company
16 Barnes Green
Livingston
West Lothian
EH54 8PP

Clouston, Otto & Co. Limited

ACCOUNTS
FOR THEYEARENDED31 MAY 2024
CONTENTS
Page
Balance Sheet3
Notes To The Accounts4

Clouston, Otto & Co. Limited

BALANCE SHEET AT 31 May 2024
20242023
Notes££
FIXED ASSETS
Tangible assets3735,051735,060
CURRENT ASSETS
Cash at bank and in hand11,23910,809
11,23910,809
CREDITORS: Amounts falling due within one year510,03912,153
NET CURRENT ASSETS / (LIABILITIES)1,200(1,344)
TOTAL ASSETS LESS CURRENT LIABILITIES736,251733,716
CREDITORS: Amounts falling due after more than one year6111,518118,163
PROVISIONS FOR LIABILITIES AND CHARGES66,23866,237
NET ASSETS558,495549,316
CAPITAL AND RESERVES
Called up share capital22
Revaluation reserve1d,7471,609471,609
Profit and loss account86,88477,705
SHAREHOLDERS' FUNDS558,495549,316
For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 14 February 2025 and signed on their behalf by
.............................
Lieselotte Penny Tobermann
Director

Clouston, Otto & Co. Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting FRS 1021 a
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The accounts have been prepared under the historical cost convention.
The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures and Fittingsreducing balance 15%
1c. Investment Properties
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
1d. Revaluation Reserve
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note 7).
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account.
2. EMPLOYEES
20242023
No.No.
Average number of employees22

Clouston, Otto & Co. Limited

3. TANGIBLE FIXED ASSETS
Fixtures
and FittingsEquipmentTotal
£££
Cost
At 1 June 20237,0637717,834
At 31 May 20247,0637717,834
Depreciation
At 1 June 20237,0047707,774
For the year9-9
At 31 May 20247,0137707,783
Net Book Amounts
At 31 May 202450151
At 31 May 202359160
4. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 1 June 2023735,000735,000
At 31 May 2024735,000735,000
If the investment property had not been revalued it would have been included at its historical cost of £197,166 (2023: £197,166).
The investment property was valued on an open market basis on 31 May 2024 by the directors.
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax2,1554,269
Other creditors6,0456,045
Accrued expenses1,8391,839
10,03912,153

Clouston, Otto & Co. Limited

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Other creditors111,518118,163
111,518118,163
7. REVALUATION RESERVE 20242023
££
Revaluation reserve471,609443,259
Revaluation reserve-28,350
471,609471,609