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REGISTERED NUMBER: SC263051 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

MIKE DUTHIE LTD.

MIKE DUTHIE LTD. (REGISTERED NUMBER: SC263051)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MIKE DUTHIE LTD.

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: M Duthie





SECRETARY: Mrs J Duthie





REGISTERED OFFICE: Flexistore
Barclayhill Place
Portlethen
Aberdeenshire
AB12 4LH





REGISTERED NUMBER: SC263051 (Scotland)





ACCOUNTANTS: Fyfe Moir & Associates
1st Floor, 5 Abercrombie Crt
Prospect Road,
Westhill
Aberdeenshire
Grampian
AB32 6FE

MIKE DUTHIE LTD. (REGISTERED NUMBER: SC263051)

Balance Sheet
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 28,863 3,522
28,863 3,522

CURRENT ASSETS
Stocks 12,065 5,000
Debtors 6 197,478 187,890
Cash at bank 68,888 42,572
278,431 235,462
CREDITORS
Amounts falling due within one year 7 97,646 41,156
NET CURRENT ASSETS 180,785 194,306
TOTAL ASSETS LESS CURRENT
LIABILITIES

209,648

197,828

CREDITORS
Amounts falling due after more than one year 8 (14,222 ) -

PROVISIONS FOR LIABILITIES 10 (6,180 ) (112 )
NET ASSETS 189,246 197,716

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 189,146 197,616
SHAREHOLDERS' FUNDS 189,246 197,716

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

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

MIKE DUTHIE LTD. (REGISTERED NUMBER: SC263051)

Balance Sheet - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 April 2025 and were signed by:





M Duthie - Director


MIKE DUTHIE LTD. (REGISTERED NUMBER: SC263051)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Mike Duthie Ltd. 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.

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 financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Patents and licences
Patents and licences are being amortised evenly over the estimated useful life of five years. The director believes that five years is a fair basis for amortising patents and licences.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 15% on cost

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.


MIKE DUTHIE LTD. (REGISTERED NUMBER: SC263051)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 17,500
AMORTISATION
At 1 January 2024
and 31 December 2024 17,500
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

MIKE DUTHIE LTD. (REGISTERED NUMBER: SC263051)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2024 7,645 25,315 2,505
Additions - - -
At 31 December 2024 7,645 25,315 2,505
DEPRECIATION
At 1 January 2024 7,645 24,787 2,505
Charge for year - 188 -
At 31 December 2024 7,645 24,975 2,505
NET BOOK VALUE
At 31 December 2024 - 340 -
At 31 December 2023 - 528 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 - 4,836 40,301
Additions 32,000 249 32,249
At 31 December 2024 32,000 5,085 72,550
DEPRECIATION
At 1 January 2024 - 1,842 36,779
Charge for year 6,000 720 6,908
At 31 December 2024 6,000 2,562 43,687
NET BOOK VALUE
At 31 December 2024 26,000 2,523 28,863
At 31 December 2023 - 2,994 3,522

6. DEBTORS
31.12.24 31.12.23
£    £   
Amounts falling due within one year:
Trade debtors 29,847 26,318
Prepayments 12,110 5,006
41,957 31,324

MIKE DUTHIE LTD. (REGISTERED NUMBER: SC263051)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. DEBTORS - continued
31.12.24 31.12.23
£    £   
Amounts falling due after more than one year:
Other debtors 155,521 156,566

Aggregate amounts 197,478 187,890

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts 10,666 -
Trade creditors 20,744 20,705
Tax 10,569 (12,949 )
Social security and other taxes 810 2,115
VAT 16,320 9,960
Other creditors 218 389
Directors' current accounts 384 602
Accrued expenses 37,935 20,334
97,646 41,156

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts 14,222 -

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   

All obligations to the bank shall be secured by way of a bond & floating charge over the whole assets of the company.

10. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 6,180 112

MIKE DUTHIE LTD. (REGISTERED NUMBER: SC263051)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 112
Accelerated capital allowances 6,068
Balance at 31 December 2024 6,180