PTP Accounts Production v24.1.4.33 SC053377 Board of Directors Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false "A" Ordinary shares 5.00000 "B" Ordinary shares 5.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC0533772023-05-31SC0533772024-05-31SC0533772023-06-012024-05-31SC0533772022-05-31SC0533772022-06-012023-05-31SC0533772023-05-31SC053377ns15:Scotland2023-06-012024-05-31SC053377ns14:PoundSterling2023-06-012024-05-31SC053377ns10:Director12023-06-012024-05-31SC053377ns10:Director22023-06-012024-05-31SC053377ns10:PrivateLimitedCompanyLtd2023-06-012024-05-31SC053377ns10:SmallEntities2023-06-012024-05-31SC053377ns10:AuditExemptWithAccountantsReport2023-06-012024-05-31SC053377ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-31SC053377ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-31SC053377ns10:FullAccounts2023-06-012024-05-31SC053377ns10:OrdinaryShareClass12023-06-012024-05-31SC053377ns10:OrdinaryShareClass22023-06-012024-05-31SC053377ns10:Director32023-06-012024-05-31SC053377ns10:Director42023-06-012024-05-31SC053377ns10:CompanySecretary12023-06-012024-05-31SC053377ns10:RegisteredOffice2023-06-012024-05-31SC053377ns5:CurrentFinancialInstruments2024-05-31SC053377ns5:CurrentFinancialInstruments2023-05-31SC053377ns5:Non-currentFinancialInstruments2024-05-31SC053377ns5:Non-currentFinancialInstruments2023-05-31SC053377ns5:ShareCapital2024-05-31SC053377ns5:ShareCapital2023-05-31SC053377ns5:CapitalRedemptionReserve2024-05-31SC053377ns5:CapitalRedemptionReserve2023-05-31SC053377ns5:RetainedEarningsAccumulatedLosses2024-05-31SC053377ns5:RetainedEarningsAccumulatedLosses2023-05-31SC053377ns5:LeaseholdImprovements2023-06-012024-05-31SC053377ns5:PlantMachinery2023-06-012024-05-31SC053377ns5:MotorVehicles2023-06-012024-05-31SC053377ns5:LeaseholdImprovements2023-05-31SC053377ns5:PlantMachinery2023-05-31SC053377ns5:MotorVehicles2023-05-31SC053377ns5:LeaseholdImprovements2024-05-31SC053377ns5:PlantMachinery2024-05-31SC053377ns5:MotorVehicles2024-05-31SC053377ns5:LeaseholdImprovements2023-05-31SC053377ns5:PlantMachinery2023-05-31SC053377ns5:MotorVehicles2023-05-31SC053377ns5:LeaseholdImprovementsns5:LeasedAssetsHeldAsLessee2023-05-31SC053377ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-05-31SC053377ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-05-31SC053377ns5:LeasedAssetsHeldAsLessee2023-05-31SC053377ns5:LeaseholdImprovementsns5:LeasedAssetsHeldAsLessee2023-06-012024-05-31SC053377ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-012024-05-31SC053377ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-012024-05-31SC053377ns5:LeasedAssetsHeldAsLessee2023-06-012024-05-31SC053377ns5:LeaseholdImprovementsns5:LeasedAssetsHeldAsLessee2024-05-31SC053377ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-05-31SC053377ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-05-31SC053377ns5:LeasedAssetsHeldAsLessee2024-05-31SC053377ns5:LeaseholdImprovementsns5:LeasedAssetsHeldAsLessee2023-05-31SC053377ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-05-31SC053377ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-05-31SC053377ns5:LeasedAssetsHeldAsLessee2023-05-31SC053377ns5:CostValuation2023-05-31SC053377ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-31SC053377ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-31SC053377ns10:OrdinaryShareClass12024-05-31SC053377ns10:OrdinaryShareClass22024-05-31
REGISTERED NUMBER: SC053377 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

The Saw Centre Limited

The Saw Centre Limited (Registered number: SC053377)






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

Chartered Accountants' Report 11

The Saw Centre Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: I Galbraith
Mrs A M V Galbraith
A Galbraith
D Stevenson





SECRETARY: I Galbraith





REGISTERED OFFICE: 650 Eglinton Street
Glasgow
G5 9RP





REGISTERED NUMBER: SC053377 (Scotland)





ACCOUNTANTS: GMH Chartered Accountants
Pavilion 3, Suite 2
St James Business Park
Paisley
Renfrewshire
PA3 3BB

The Saw Centre Limited (Registered number: SC053377)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 865,408 783,932
Investments 5 4 4
865,412 783,936

CURRENT ASSETS
Stocks 6 689,692 664,408
Debtors 7 710,960 787,483
Cash at bank 18,788 26,534
1,419,440 1,478,425
CREDITORS
Amounts falling due within one year 8 1,244,008 1,233,894
NET CURRENT ASSETS 175,432 244,531
TOTAL ASSETS LESS CURRENT LIABILITIES 1,040,844 1,028,467

CREDITORS
Amounts falling due after more than one
year

9

286,495

286,775
NET ASSETS 754,349 741,692

CAPITAL AND RESERVES
Called up share capital 10 76,000 76,000
Capital redemption reserve 24,000 24,000
Retained earnings 654,349 641,692
SHAREHOLDERS' FUNDS 754,349 741,692

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 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 Saw Centre Limited (Registered number: SC053377)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:




A Galbraith - Director



D Stevenson - Director


The Saw Centre Limited (Registered number: SC053377)

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

1. STATUTORY INFORMATION

The Saw Centre 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 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Preparation of consolidated financial statements
The financial statements contain information about The Saw Centre Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The directors are of the opinion that due to the nature of the business, there are no critical accounting estimates of judgements used in the preparation of these financial statements.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 5% on cost
Plant and machinery - 20% on reducing balance, 15% on reducing balance, 10% on reducing balance and 5% on reducing balance
Motor vehicles - 25% on cost

Investments in subsidiaries
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

The Saw Centre Limited (Registered number: SC053377)

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

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Financial instruments
Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised within profit and loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the assets carrying amount and the present value of estimated future cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate of measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the assets carrying amount and the best estimate of the amount that the company would receive for the asset if it were sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

The Saw Centre Limited (Registered number: SC053377)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible 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 extent 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 33 ) .

The Saw Centre Limited (Registered number: SC053377)

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

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 June 2023 122,183 950,939 332,282 1,405,404
Additions 23,805 27,452 166,597 217,854
Disposals - (145,859 ) (35,899 ) (181,758 )
At 31 May 2024 145,988 832,532 462,980 1,441,500
DEPRECIATION
At 1 June 2023 6,607 474,755 140,110 621,472
Charge for year 7,200 26,405 93,739 127,344
Eliminated on disposal - (145,347 ) (27,377 ) (172,724 )
At 31 May 2024 13,807 355,813 206,472 576,092
NET BOOK VALUE
At 31 May 2024 132,181 476,719 256,508 865,408
At 31 May 2023 115,576 476,184 192,172 783,932

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 June 2023 47,077 310,027 326,723 683,827
Additions - 27,452 164,350 191,802
Disposals - - (35,899 ) (35,899 )
Transfer to ownership - - (19,644 ) (19,644 )
At 31 May 2024 47,077 337,479 435,530 820,086
DEPRECIATION
At 1 June 2023 - 35,744 136,496 172,240
Charge for year 2,354 14,517 92,711 109,582
Eliminated on disposal - - (27,377 ) (27,377 )
Transfer to ownership - - (19,644 ) (19,644 )
At 31 May 2024 2,354 50,261 182,186 234,801
NET BOOK VALUE
At 31 May 2024 44,723 287,218 253,344 585,285
At 31 May 2023 47,077 274,283 190,227 511,587

The Saw Centre Limited (Registered number: SC053377)

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1 June 2023
and 31 May 2024 4
NET BOOK VALUE
At 31 May 2024 4
At 31 May 2023 4

6. STOCKS
31.5.24 31.5.23
£    £   
Stocks 689,692 664,408

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 641,599 676,782
Other debtors 51,129 89,756
Prepayments and accrued income 18,232 20,945
710,960 787,483

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 150,966 111,737
Trade creditors 447,686 742,945
Other creditors 149,355 58,037
Social security and other taxes 31,133 30,027
VAT 143,115 106,773
Accruals and deferred income 321,753 184,375
1,244,008 1,233,894

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 286,495 286,775

The Saw Centre Limited (Registered number: SC053377)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1,020,000 "A" Ordinary shares 5p 51,000 51,000
500,000 "B" Ordinary shares 5p 25,000 25,000
76,000 76,000

11. SECURITIES

There is a bond and floating charge in favour of the Bank of Scotland over the whole assets of the company.

In addition, the Bank of Scotland holds a personal guarantee from two of the directors.

Net obligations under finance leases and hire purchase contracts are secured on the assets held under contract.

12. CAPITAL COMMITMENTS
31.5.24 31.5.23
£    £   
Contracted but not provided for in the
financial statements - 78,385

The assets committed as at the reporting date were financed by additional loan and hire purchase finance.

13. OPERATING LEASE COMMITMENTS

Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases as follows:-

20242023
£   £   

Non-cancellable operating leases105,709105,709

14. RELATED PARTY TRANSACTIONS

Included in other debtors is an amount due from one of the directors of £382 [2024:- £382]. There was no change from the prior period [2023:-£382].

There are no fixed interest or repayments terms associated with this loan.

The Saw Centre Limited (Registered number: SC053377)

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

15. RETIREMENT BENEFIT SCHEMES

Defined contribution schemes

2024 2023
£    £   

Charge to profit and loss in respect of defined contribution schemes 157,330 72,283


The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
The Saw Centre Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Saw Centre Limited for the year ended 31 May 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of The Saw Centre Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Saw Centre Limited and state those matters that we have agreed to state to the Board of Directors of The Saw Centre Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Saw Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Saw Centre Limited. You consider that The Saw Centre Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Saw Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






GMH Chartered Accountants
Pavilion 3, Suite 2
St James Business Park
Paisley
Renfrewshire
PA3 3BB


26 February 2025