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BOB MILLAR LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 28TH JANUARY 2024 TO 1ST FEBRUARY 2025






BOB MILLAR LIMITED (REGISTERED NUMBER: SC168787)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 28TH JANUARY 2024 TO 1ST FEBRUARY 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BOB MILLAR LIMITED

COMPANY INFORMATION
FOR THE PERIOD 28TH JANUARY 2024 TO 1ST FEBRUARY 2025







DIRECTORS: Ms K S Stevenson
R D G Millar


REGISTERED OFFICE: 2 - 6 Golf Place
St Andrews
Fife
KY16 9JA


REGISTERED NUMBER: SC168787 (Scotland)


SENIOR STATUTORY
AUDITOR:
Joanne Gibson


AUDITORS: JRW Hogg & Thorburn LLP
Chartered Accountants &
Statutory Auditor
19 Buccleuch Street
Hawick
Roxburghshire
TD9 0HL


SOLICITORS: Shepherd & Wedderburn, W.S.
1 West Regent Street
Glasgow
G2 1RW

BOB MILLAR LIMITED (REGISTERED NUMBER: SC168787)

BALANCE SHEET
1ST FEBRUARY 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - 107
Tangible assets 5 83,005 47,182
Investments 6 763,969 1
846,974 47,290

CURRENT ASSETS
Stocks 1,512,214 1,191,324
Debtors 7 93,998 51,796
Cash at bank and in hand 737,890 1,439,501
2,344,102 2,682,621
CREDITORS
Amounts falling due within one year 8 545,492 459,917
NET CURRENT ASSETS 1,798,610 2,222,704
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,645,584

2,269,994

CREDITORS
Amounts falling due after more than one
year

9

(10,219

)

-

PROVISIONS FOR LIABILITIES (22,000 ) (11,500 )
NET ASSETS 2,613,365 2,258,494

CAPITAL AND RESERVES
Called up share capital 60,000 60,000
Retained earnings 2,553,365 2,198,494
SHAREHOLDERS' FUNDS 2,613,365 2,258,494

BOB MILLAR LIMITED (REGISTERED NUMBER: SC168787)

BALANCE SHEET - continued
1ST FEBRUARY 2025


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 17th April 2025 and were signed on its behalf by:




R D G Millar - Director



Ms K S Stevenson - Director


BOB MILLAR LIMITED (REGISTERED NUMBER: SC168787)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 28TH JANUARY 2024 TO 1ST FEBRUARY 2025

1. STATUTORY INFORMATION

Bob Millar 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.

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.

Going concern-
The directors have considered the potential impact of current worldwide events and are satisfied that the company has sufficient cash reserves to meet all the financial obligations for the foreseeable future. The directors have increased prices where appropriate as a measure to offset the impact of rising supply costs.

Currently the premises at 2-6 Golf Place are undergoing refurbishment works with an extension being added to the back of the building. This will create more sales space. Alongside these works the swing studio is being refurbished and this will further increase the sale of golf clubs.

The Dunhill in the forthcoming years and the Open in 2027 is expected to have a positive impact on the trading and cash flow of the business, as experienced during previous events.

The directors have prepared cash flow projections through to January 2026. The budget includes:

- The continued impact of worldwide events on the company and the wider economy
- Profit margins on stock items to remain consistent with previous years
- Increased staff costs due to the increase in the national living wage and national insurance contributions

The projections indicates that the company should continue to operate within its agreed borrowing limits. Having reviewed the cash flow projections, and whilst accepting that the future will be challenging, the directors believe that the company has the ability to continue as a going concern for the foreseeable future.

BOB MILLAR LIMITED (REGISTERED NUMBER: SC168787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 28TH JANUARY 2024 TO 1ST FEBRUARY 2025

2. ACCOUNTING POLICIES - continued

Turnover
The company operates retail stores for the sale of golfing equipment and clothing. Revenue is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer. This is usually at the point when the customer has taken delivery of the goods.

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

Intangible fixed assets and amortisation
Intangible fixed assets are stated at cost less amortisation.

Property Lease Premium is amortised over life of the lease.

Goodwill, being the amount originally paid in connection with the acquisition of a business in 2011 by the company's subsidiary, was amortised evenly over its estimated useful life of five years.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are accounted for at cost less impairment.

Quoted Investments
Quoted investments are shown in fair value. Any aggregate surplus or deficit arising from changes in fair value is transferred to the profit and loss account.
Investment income is accounted for when receivable.

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell, after making allowance for obsolete and slow moving items.

The provision for slow moving items is to provide:

- 100% of cost of items purchased over 4 years ago
- 50% of cost of items purchased 3-4 years ago
- 25% of cost of items purchased 1-3 years ago

BOB MILLAR LIMITED (REGISTERED NUMBER: SC168787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 28TH JANUARY 2024 TO 1ST FEBRUARY 2025

2. ACCOUNTING POLICIES - continued

Financial assets
Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price.
At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Income Statement.
Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled.

Financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities is payment is due within one year or less. If not they are presented as non-current liabilities.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation
Taxation for the period 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 period 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.

Pension costs
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 period was 28 (2024 - 27 ) .

BOB MILLAR LIMITED (REGISTERED NUMBER: SC168787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 28TH JANUARY 2024 TO 1ST FEBRUARY 2025

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 28th January 2024
and 1st February 2025 35,833 51,000 86,833
AMORTISATION
At 28th January 2024 35,833 50,893 86,726
Charge for period - 107 107
At 1st February 2025 35,833 51,000 86,833
NET BOOK VALUE
At 1st February 2025 - - -
At 27th January 2024 - 107 107

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 28th January 2024 306,084
Additions 72,219
At 1st February 2025 378,303
DEPRECIATION
At 28th January 2024 258,902
Charge for period 36,396
At 1st February 2025 295,298
NET BOOK VALUE
At 1st February 2025 83,005
At 27th January 2024 47,182

BOB MILLAR LIMITED (REGISTERED NUMBER: SC168787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 28TH JANUARY 2024 TO 1ST FEBRUARY 2025

6. FIXED ASSET INVESTMENTS
Shares in
group Quoted
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 28th January 2024 1 - 1
Additions - 906,507 906,507
Disposals - (147,000 ) (147,000 )
Revaluations - 4,461 4,461
At 1st February 2025 1 763,968 763,969
NET BOOK VALUE
At 1st February 2025 1 763,968 763,969
At 27th January 2024 1 - 1

Cost or valuation at 1st February 2025 is represented by:

Shares in
group Quoted
undertakings investments Totals
£    £    £   
Valuation in 2023 - 763,968 763,968
Cost 1 - 1
1 763,968 763,969

The company's 100% subsidiary, St Andrews Golf Store Limited, is dormant with net assets of £1.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 2,358 3,519
Other debtors 91,640 48,277
93,998 51,796

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Hire purchase contracts 14,383 -
Trade creditors 86,400 60,984
Taxation and social security 261,284 272,764
Other creditors 183,425 126,169
545,492 459,917

BOB MILLAR LIMITED (REGISTERED NUMBER: SC168787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 28TH JANUARY 2024 TO 1ST FEBRUARY 2025

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2025 2024
£    £   
Hire purchase contracts 10,219 -

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Joanne Gibson (Senior Statutory Auditor)
for and on behalf of JRW Hogg & Thorburn LLP

11. CAPITAL COMMITMENTS

As at 1st February 2025, the directors have approved building works totalling approximately £500,000.

12. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of£159,000 per annum. Until any breaks in the leases these total £700,430.

13. RELATED PARTY DISCLOSURES

During the period a £100,000 donation was made to The Stevenson Trust.