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Company registration number: SC564536
Rattray ATV Limited
Unaudited filleted financial statements
30 June 2024
Rattray ATV Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Rattray ATV Limited
Directors and other information
Directors Mr G Rattray
Mrs S Rattray
Company number SC564536
Registered office Woodend Farm
Duchally
Auchterarder
PH3 1PF
Accountants Dickson Middleton
20 Barnton Street
Stirling
FK9 1NE
Bankers Bank of Scotland
PO Box 1000
Edinburgh
BX2 1LB
Rattray ATV Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Rattray ATV Limited
Year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rattray ATV Limited for the year ended 30 June 2024 which comprise the statement of financial position and 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 .
This report is made solely to the board of directors of Rattray ATV Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Rattray ATV Limited and state those matters that we have agreed to state to the board of directors of Rattray ATV Limited as a body, in this report in accordance with the requirements of ICAS as detailed at To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rattray ATV Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Rattray ATV 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 Rattray ATV Limited. You consider that Rattray ATV 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 Rattray ATV 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.
Dickson Middleton
Chartered Accountants
20 Barnton Street
Stirling
FK9 1NE
14 March 2025
Rattray ATV Limited
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 393,873 335,028
_______ _______
393,873 335,028
Current assets
Stocks 416,290 421,289
Debtors 6 185,345 158,892
Cash at bank and in hand 284,952 332,144
_______ _______
886,587 912,325
Creditors: amounts falling due
within one year 7 ( 260,083) ( 321,608)
_______ _______
Net current assets 626,504 590,717
_______ _______
Total assets less current liabilities 1,020,377 925,745
Creditors: amounts falling due
after more than one year 8 - ( 542)
Provisions for liabilities ( 96,707) ( 81,618)
_______ _______
Net assets 923,670 843,585
_______ _______
Capital and reserves
Called up share capital 9 100 100
Profit and loss account 923,570 843,485
_______ _______
Shareholders funds 923,670 843,585
_______ _______
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 14 March 2025 , and are signed on behalf of the board by:
Mr G Rattray
Director
Company registration number: SC564536
Rattray ATV Limited
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Woodend Farm, Duchally, Auchterarder, PH3 1PF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity, rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 15 % reducing balance
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
The company has only basic financial instruments. Basic financial instruments are initially recognised at the transaction price and subsequently recognised at settlement value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2023: 17 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 July 2023 66,528 380,811 7,756 127,662 582,757
Additions - 129,893 - 46,658 176,551
Disposals - ( 72,215) - ( 29,147) ( 101,362)
_______ _______ _______ _______ _______
At 30 June 2024 66,528 438,489 7,756 145,173 657,946
_______ _______ _______ _______ _______
Depreciation
At 1 July 2023 25,732 133,194 4,607 84,196 247,729
Charge for the year 6,119 42,520 317 19,712 68,668
Disposals - ( 30,569) - ( 21,755) ( 52,324)
_______ _______ _______ _______ _______
At 30 June 2024 31,851 145,145 4,924 82,153 264,073
_______ _______ _______ _______ _______
Carrying amount
At 30 June 2024 34,677 293,344 2,832 63,020 393,873
_______ _______ _______ _______ _______
At 30 June 2023 40,796 247,617 3,149 43,466 335,028
_______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 181,061 149,601
Other debtors 4,284 9,291
_______ _______
185,345 158,892
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 116,217 162,789
Social security and other taxes 79,144 46,390
Other creditors 64,722 112,429
_______ _______
260,083 321,608
_______ _______
Other creditors of £542 are secured over assets obtained under hire purchase agreements.
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors - 542
_______ _______
9. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
10. Controlling party
No one shareholder has overall control of the company.