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REGISTERED NUMBER: SC400504 (Scotland)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

SUTHERLAND & CO (OLD CRAIG) LTD

SUTHERLAND & CO (OLD CRAIG) LTD (REGISTERED NUMBER: SC400504)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SUTHERLAND & CO (OLD CRAIG) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr I A Sutherland





REGISTERED OFFICE: Old Craig
Meikle Wartle
Inverurie
Aberdeenshire
AB51 5AS





REGISTERED NUMBER: SC400504 (Scotland)





ACCOUNTANTS: Bain Henry Reid
51-53 High Street
Turriff
AB53 4EJ

SUTHERLAND & CO (OLD CRAIG) LTD (REGISTERED NUMBER: SC400504)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 203,850 223,425

CURRENT ASSETS
Stocks 164,760 168,665
Debtors 4 460,566 522,956
Cash at bank 1,631,795 1,243,126
2,257,121 1,934,747
CREDITORS
Amounts falling due within one year 5 226,808 144,064
NET CURRENT ASSETS 2,030,313 1,790,683
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,234,163

2,014,108

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,233,163 2,013,108
SHAREHOLDERS' FUNDS 2,234,163 2,014,108

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.

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 28 February 2025 and were signed by:





Mr I A Sutherland - Director


SUTHERLAND & CO (OLD CRAIG) LTD (REGISTERED NUMBER: SC400504)

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


1. 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 represents share of profit in partnership of Sutherland & Company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Investments
Investments held as current assets are stated at the lower of cost and net realisable value. Dividends are bought to account in the profit and loss account when received.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

SUTHERLAND & CO (OLD CRAIG) LTD (REGISTERED NUMBER: SC400504)

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


3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 347,442
Additions 25,019
At 31 May 2024 372,461
DEPRECIATION
At 1 June 2023 124,017
Charge for year 44,594
At 31 May 2024 168,611
NET BOOK VALUE
At 31 May 2024 203,850
At 31 May 2023 223,425

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,555 73,960
ANM Group Deposit - 380,446
Executory Loan 31,373 31,373
Other deposits 389,966 -
Tax 10,722 10,722
VAT 12,509 22,958
Prepayments 4,441 3,497
460,566 522,956

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 124,660 43,447
Tax 81,106 85,035
Social security and other taxes 32 (326 )
Directors' current accounts 17,060 9,828
Accrued expenses 3,950 6,080
226,808 144,064

SUTHERLAND & CO (OLD CRAIG) LTD (REGISTERED NUMBER: SC400504)

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


6. DIRECTOR'S LOANS

The following advances and credits to directors subsisted during the year ended 31 May 2024 and the period ended 31 May 2023:

2024 2023
£    £   
Mr A W Sutherland
Balance outstanding at start of year - 31,769
Amounts repaid - (31,769 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr I A Sutherland
Balance outstanding at start of year (9,828 ) (8,814 )
Amounts advanced 2,931 -
Amounts repaid (10,162 ) (1,014 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (17,059 ) (9,828 )

7. ULTIMATE CONTROLLING PARTY

Mr I Sutherland controls the company by virtue of 100% controlling interest in the issued share capital.