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REGISTERED NUMBER: SC388881 (Scotland)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DUNCANS OF GRANTOWN LIMITED

DUNCANS OF GRANTOWN LIMITED (REGISTERED NUMBER: SC388881)

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


DUNCANS OF GRANTOWN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr D J Shreeve
Mrs R M Shreeve
Mr I M Shreeve



SECRETARY: Mr D J Shreeve



REGISTERED OFFICE: Unit 7a
Achnagonalin Industrial Estate
Grantown on Spey
Moray
PH26 3TA



REGISTERED NUMBER: SC388881 (Scotland)



ACCOUNTANTS: Ross + Co Accountancy Limited
31 Strathspey Avenue
Aviemore
PH22 1SN



BANKERS: Bank of Scotland
1 The Square
Grantown on Spey
Moray
PH26 3HG

DUNCANS OF GRANTOWN LIMITED (REGISTERED NUMBER: SC388881)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 77,361 90,254
Tangible assets 5 132,249 138,114
209,610 228,368

CURRENT ASSETS
Stocks 159,495 143,433
Debtors 6 19,821 26,582
Cash at bank and in hand 42,787 98,508
222,103 268,523
CREDITORS
Amounts falling due within one year 7 70,427 90,040
NET CURRENT ASSETS 151,676 178,483
TOTAL ASSETS LESS CURRENT LIABILITIES 361,286 406,851

CREDITORS
Amounts falling due after more than one
year

8

(71,851

)

(34,000

)

PROVISIONS FOR LIABILITIES 9 (25,127 ) (26,242 )
NET ASSETS 264,308 346,609

CAPITAL AND RESERVES
Allotted, called up and fully paid share
capital

10

100

100
Profit and loss account -
distributable 264,208 346,509
SHAREHOLDERS' FUNDS 264,308 346,609

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 directors acknowledge their 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.

DUNCANS OF GRANTOWN LIMITED (REGISTERED NUMBER: SC388881)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2025 and were signed on its behalf by:





Mr D J Shreeve - Director


DUNCANS OF GRANTOWN LIMITED (REGISTERED NUMBER: SC388881)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Duncans of Grantown 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.

The financial statements have been prepared under the going concern basis as in the opinion of the directors there is adequate finance available to the company in order to continue in operation for the foreseeable future.

TURNOVER
Turnover represents net invoiced sales of goods and services, excluding Value Added Tax.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

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.

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 - 25% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment & Website - 15% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

DUNCANS OF GRANTOWN LIMITED (REGISTERED NUMBER: SC388881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

DEBTORS AND CREDITORS RECEIVABLE/PAYABLE WITHIN ONE YEAR
Debtors and creditors with no stated interest and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 257,870
AMORTISATION
At 1 January 2024 167,616
Charge for year 12,893
At 31 December 2024 180,509
NET BOOK VALUE
At 31 December 2024 77,361
At 31 December 2023 90,254

DUNCANS OF GRANTOWN LIMITED (REGISTERED NUMBER: SC388881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 1,853 278,026 279,879
Additions - 30,781 30,781
Disposals - (38,106 ) (38,106 )
At 31 December 2024 1,853 270,701 272,554
DEPRECIATION
At 1 January 2024 - 141,765 141,765
Charge for year - 30,207 30,207
Eliminated on disposal - (31,667 ) (31,667 )
At 31 December 2024 - 140,305 140,305
NET BOOK VALUE
At 31 December 2024 1,853 130,396 132,249
At 31 December 2023 1,853 136,261 138,114

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 374 11,176
Other debtors 19,447 15,406
19,821 26,582

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 28,849 38,682
Taxation and social security 26,017 39,258
Other creditors 15,561 12,100
70,427 90,040

Included in Other Creditors is a Bounce Back Loan of £10,000.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 71,851 34,000

Included in other creditors is a loan from the director, Mr D J Shreeve. At the balance sheet date this loan amounted to £67,684 (2023: £19,833). The loan is granted free of interest and is repayable as and when the company has the funds available to do so. Also included in Other Creditors is a Bounce Back Loan of £4,167 (2023: £14,167).

DUNCANS OF GRANTOWN LIMITED (REGISTERED NUMBER: SC388881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 25,127 26,242

Deferred
tax
£   
Balance at 1 January 2024 26,242
Provided during year (1,115 )
Balance at 31 December 2024 25,127

10. ALLOTTED, CALLED UP AND FULLY PAID SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director, Mr D J Shreeve, by virtue of his 100% ownership of the issued Ordinary Share Capital.