Ian R Ralston Limited SC591579 false 2023-06-01 2024-03-31 2024-03-31 The principal activity of the company is that of specialist construction activities. Digita Accounts Production Advanced 6.30.9574.0 true true SC591579 2023-06-01 2024-03-31 SC591579 2024-03-31 SC591579 bus:OrdinaryShareClass1 2024-03-31 SC591579 core:FinanceLeases core:CurrentFinancialInstruments 2024-03-31 SC591579 core:FinanceLeases core:Non-currentFinancialInstruments 2024-03-31 SC591579 core:CurrentFinancialInstruments 2024-03-31 SC591579 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC591579 core:Non-currentFinancialInstruments 2024-03-31 SC591579 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 SC591579 core:FurnitureFittingsToolsEquipment 2024-03-31 SC591579 core:MotorVehicles 2024-03-31 SC591579 bus:SmallEntities 2023-06-01 2024-03-31 SC591579 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-03-31 SC591579 bus:FilletedAccounts 2023-06-01 2024-03-31 SC591579 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-03-31 SC591579 bus:RegisteredOffice 2023-06-01 2024-03-31 SC591579 bus:Director1 2023-06-01 2024-03-31 SC591579 bus:Director2 2023-06-01 2024-03-31 SC591579 bus:OrdinaryShareClass1 2023-06-01 2024-03-31 SC591579 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-03-31 SC591579 core:FurnitureFittings 2023-06-01 2024-03-31 SC591579 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-03-31 SC591579 core:MotorVehicles 2023-06-01 2024-03-31 SC591579 core:PlantMachinery 2023-06-01 2024-03-31 SC591579 1 2023-06-01 2024-03-31 SC591579 countries:Scotland 2023-06-01 2024-03-31 SC591579 2023-05-31 SC591579 core:FurnitureFittingsToolsEquipment 2023-05-31 SC591579 core:MotorVehicles 2023-05-31 SC591579 2022-06-01 2023-05-31 SC591579 2023-05-31 SC591579 bus:OrdinaryShareClass1 2023-05-31 SC591579 core:FinanceLeases core:CurrentFinancialInstruments 2023-05-31 SC591579 core:FinanceLeases core:Non-currentFinancialInstruments 2023-05-31 SC591579 core:CurrentFinancialInstruments 2023-05-31 SC591579 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 SC591579 core:Non-currentFinancialInstruments 2023-05-31 SC591579 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 SC591579 core:FurnitureFittingsToolsEquipment 2023-05-31 SC591579 core:MotorVehicles 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC591579

Ian R Ralston Limited

Unaudited Filleted Financial Statements

for the Period from 1 June 2023 to 31 March 2024

 

Ian R Ralston Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Ian R Ralston Limited

Company Information

Directors

Mr Ian Ralston

Mrs Sarah Ralston

Registered office

Mid Crieffvechter Farm
Crieff
PERTH
PH7 3QJ

Accountants

Morris & Young
Chartered Accountants
6 Atholl Crescent
PERTH
PH1 5JN

 

Ian R Ralston Limited

(Registration number: SC591579)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

439,656

496,679

Current assets

 

Stocks

5

24,874

24,874

Debtors

6

131,803

195,065

Cash at bank and in hand

 

136,921

55,763

 

293,598

275,702

Creditors: Amounts falling due within one year

7

(98,293)

(137,344)

Net current assets

 

195,305

138,358

Total assets less current liabilities

 

634,961

635,037

Creditors: Amounts falling due after more than one year

7

(115,680)

(151,212)

Net assets

 

519,281

483,825

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

519,181

483,725

Shareholders' funds

 

519,281

483,825

 

Ian R Ralston Limited

(Registration number: SC591579)
Statement of Financial Position as at 31 March 2024

For the financial period ending 31 March 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 January 2025 and signed on its behalf by:
 

.........................................
Mr Ian Ralston
Director

.........................................
Mrs Sarah Ralston
Director

 

Ian R Ralston Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Mid Crieffvechter Farm
Crieff
PERTH
PH7 3QJ

These financial statements were authorised for issue by the Board on 28 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling (£) and rounded to the nearest £1.

Disclosure of long or short period

The year end was shortened to 31 March 2024.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Ian R Ralston Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 March 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

20% reducing balance

Motor vehicles

25% reducing balance

Fixtures & fittings

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Ian R Ralston Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Ian R Ralston Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 March 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

 

Ian R Ralston Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 March 2024

4

Tangible assets

Plant and machinery
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

812,366

48,002

860,368

Additions

4,397

28,000

32,397

Disposals

-

(2,623)

(2,623)

At 31 March 2024

816,763

73,379

890,142

Depreciation

At 1 June 2023

341,408

22,281

363,689

Charge for the period

77,763

11,069

88,832

Eliminated on disposal

-

(2,035)

(2,035)

At 31 March 2024

419,171

31,315

450,486

Carrying amount

At 31 March 2024

397,592

42,064

439,656

At 31 May 2023

470,958

25,721

496,679

5

Stocks

2024
£

2023
£

Other inventories

24,874

24,874

6

Debtors

Current

2024
£

2023
£

Trade debtors

92,238

177,502

Prepayments

2,000

-

Other debtors

37,565

17,563

 

131,803

195,065

 

Ian R Ralston Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

42,639

51,018

Trade creditors

 

30,940

42,550

Taxation and social security

 

19,635

33,015

Accruals and deferred income

 

2,850

2,850

Other creditors

 

2,229

7,911

 

98,293

137,344

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

115,680

151,212

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Ian R Ralston Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 March 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

32,109

37,283

Finance lease liabilities

83,571

113,929

115,680

151,212

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,210

6,209

Finance lease liabilities

36,429

44,809

42,639

51,018