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REGISTERED NUMBER: SC080612 (Scotland)
















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Alex Bicket Limited

Alex Bicket Limited (Registered number: SC080612)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Alex Bicket Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Alexander Mitchell Rennie Bicket





SECRETARY: Alexander Mitchell Rennie Bicket





REGISTERED OFFICE: Redwells Farm
Kilwinning
Ayrshire
KA13 7RW





REGISTERED NUMBER: SC080612 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
Westburn Business Centre
McNee Road
Prestwick
KA9 2PB

Alex Bicket Limited (Registered number: SC080612)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,052,952 1,047,620
Investments 5 2,534 1,681
1,055,486 1,049,301

CURRENT ASSETS
Stocks 150,530 149,227
Debtors 6 102,897 107,685
Cash at bank and in hand 10,386,309 9,901,361
10,639,736 10,158,273
CREDITORS
Amounts falling due within one year 7 259,421 216,380
NET CURRENT ASSETS 10,380,315 9,941,893
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,435,801

10,991,194

PROVISIONS FOR LIABILITIES 37,285 35,099
NET ASSETS 11,398,516 10,956,095

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 11,388,516 10,946,095
SHAREHOLDERS' FUNDS 11,398,516 10,956,095

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

Alex Bicket Limited (Registered number: SC080612)

Balance Sheet - continued
31 May 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 February 2025 and were signed by:





Alexander Mitchell Rennie Bicket - Director


Alex Bicket Limited (Registered number: SC080612)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Alex Bicket Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The company has substantial financial resources and continues to trade well. With this in mind the director is of the view that the accounts can be prepared on a going concern basis.

Turnover/revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the company's activities are met.

Depreciation
Depreciation is provided to write off the cost or revaluation, less estimated residual values, of all tangible fixed asset, except for investment properties and freehold land, evenly over their expected useful lives. It is calculated at the following rates:-

Agricultural buildings5% straight line
Freehold heritable property2% straight line
Freehold landNo depreciation is provided
Plant, machinery and tractors25% reducing balance
Motor vehicles25% reducing balance
Office equipment33% straight line

Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

Alex Bicket Limited (Registered number: SC080612)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 money purchase pension scheme in the form of employee personal pension plans. The contracts are between the individual and the pension provider and all funds are held externally by a third party pension provider. Pension contributions are charged to the profit and loss account in the period to which they relate.

Alex Bicket Limited (Registered number: SC080612)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant,
Freehold machinery
heritable Agricultural and
properties buildings equipment
£    £    £   
COST
At 1 June 2023 932,226 154,460 625,476
Additions - - 7,850
Disposals - - -
At 31 May 2024 932,226 154,460 633,326
DEPRECIATION
At 1 June 2023 43,200 142,120 519,741
Charge for year 1,800 931 28,529
Eliminated on disposal - - -
At 31 May 2024 45,000 143,051 548,270
NET BOOK VALUE
At 31 May 2024 887,226 11,409 85,056
At 31 May 2023 889,026 12,340 105,735

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 97,084 1,814 1,811,060
Additions 41,210 - 49,060
Disposals (24,894 ) - (24,894 )
At 31 May 2024 113,400 1,814 1,835,226
DEPRECIATION
At 1 June 2023 57,181 1,198 763,440
Charge for year 9,145 - 40,405
Eliminated on disposal (21,571 ) - (21,571 )
At 31 May 2024 44,755 1,198 782,274
NET BOOK VALUE
At 31 May 2024 68,645 616 1,052,952
At 31 May 2023 39,903 616 1,047,620

Included within freehold heritable properties is land of £842,226 which is not depreciated.

Alex Bicket Limited (Registered number: SC080612)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2023 1,681
Additions 853
At 31 May 2024 2,534
NET BOOK VALUE
At 31 May 2024 2,534
At 31 May 2023 1,681

This represents an investment in the share capital of a trading co-operative.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,609 13,551
Other debtors 101,288 94,134
102,897 107,685

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 24,745 27,686
Taxation and social security 162,309 121,192
Other creditors 72,367 67,502
259,421 216,380

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The balance on the director's loan account is interest free and repayable on demand.

9. RELATED PARTY DISCLOSURES

The company paid a grazing charge at market value to the director for the use from time to time of land in his ownership. This amounted to £10,000 (2023: £10,000).

During the year services of £30,076 (2023: £46,080) were provided to the company at market value from a business under the control of a family member.

10. CONTROLLING PARTY

The director is in control of the company by virtue of his and his late wife's entire ownership of the issued share capital.