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Company registration number: SC254201
Alistair Buchan Ltd
Unaudited filleted abridged financial statements
31 August 2024
Alistair Buchan Ltd
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Alistair Buchan Ltd
Directors and other information
Directors Alistair Buchan
Chloe Buchan
Secretary Chloe Buchan
Company number SC254201
Registered office 6 Halleys Court
Kirkcaldy
Fife
KY1 1NZ
Accountants Paterson Boyd & Co
18 North Street
Glenrothes
Fife
KY7 5NA
Bankers Virgin Money
Alistair Buchan Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Alistair Buchan Ltd
Year ended 31 August 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 Alistair Buchan Ltd for the year ended 31 August 2024 which comprise the abridged statement of financial position, statement of changes in equity 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 http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of Alistair Buchan Ltd, 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 Alistair Buchan Ltd and state those matters that we have agreed to state to the board of directors of Alistair Buchan Ltd 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 Alistair Buchan Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Alistair Buchan Ltd 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 Alistair Buchan Ltd. You consider that Alistair Buchan Ltd 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 Alistair Buchan Ltd. 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.
Paterson Boyd & Co
Chartered Certified Accountants
18 North Street
Glenrothes
Fife
KY7 5NA
17 April 2025
Alistair Buchan Ltd
Abridged statement of financial position
31 August 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 26,358 35,908
_______ _______
26,358 35,908
Current assets
Stocks 2,043,506 2,313,194
Debtors 65,166 62,743
Cash at bank and in hand 813,677 262,956
_______ _______
2,922,349 2,638,893
Creditors: amounts falling due
within one year ( 258,874) ( 200,536)
_______ _______
Net current assets 2,663,475 2,438,357
_______ _______
Total assets less current liabilities 2,689,833 2,474,265
Provisions for liabilities ( 4,790) ( 4,551)
_______ _______
Net assets 2,685,043 2,469,714
_______ _______
Capital and reserves
Called up share capital 20 20
Share premium account 19,999 19,999
Profit and loss account 2,665,024 2,449,695
_______ _______
Shareholders funds 2,685,043 2,469,714
_______ _______
For the year ending 31 August 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 abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 17 April 2025 , and are signed on behalf of the board by:
Alistair Buchan
Director
Company registration number: SC254201
Alistair Buchan Ltd
Statement of changes in equity
Year ended 31 August 2024
Called up share capital Share premium account Profit and loss account Total
£ £ £ £
At 1 September 2022 20 19,999 2,175,499 2,195,518
Profit for the year 346,196 346,196
_______ _______ _______ _______
Total comprehensive income for the year - - 346,196 346,196
Dividends paid and payable ( 72,000) ( 72,000)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 72,000) ( 72,000)
_______ _______ _______ _______
At 31 August 2023 and 1 September 2023 20 19,999 2,449,695 2,469,714
Profit for the year 273,329 273,329
_______ _______ _______ _______
Total comprehensive income for the year - - 273,329 273,329
Dividends paid and payable ( 58,000) ( 58,000)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 58,000) ( 58,000)
_______ _______ _______ _______
At 31 August 2024 20 19,999 2,665,024 2,685,043
_______ _______ _______ _______
Alistair Buchan Ltd
Notes to the financial statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 6 Halleys Court, Kirkcaldy, Fife, KY1 1NZ.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 is subsequently stated at cost less any accumulated depreciation and any accumulated 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 - 10 % straight line
Fittings fixtures and equipment - 15 % 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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
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 entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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 13 (2023: 11 ).
5. Tangible assets
£
Cost
At 1 September 2023 and 31 August 2024 132,100
_______
Depreciation
At 1 September 2023 96,192
Charge for the year 9,550
_______
At 31 August 2024 105,742
_______
Carrying amount
At 31 August 2024 26,358
_______
At 31 August 2023 35,908
_______