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REGISTERED NUMBER: SC258273 (Scotland)















Financial Statements For The Year Ended 31 December 2024

for

Boswell Mitchell & Johnston Limited

Boswell Mitchell & Johnston Limited (Registered number: SC258273)






Contents of the Financial Statements
For The Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Boswell Mitchell & Johnston Limited

Company Information
For The Year Ended 31 December 2024







DIRECTORS: N Benn
S M Scott
D G Leach
B Sasan





REGISTERED OFFICE: The Hub
70 Pacific Quay
Glasgow
G51 1DZ





REGISTERED NUMBER: SC258273 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Boswell Mitchell & Johnston Limited (Registered number: SC258273)

Statement of Financial Position
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - 19,000
Tangible assets 5 84,728 74,443
84,728 93,443

CURRENT ASSETS
Debtors 6 1,365,520 903,886
Cash at bank and in hand 1,569,240 1,507,714
2,934,760 2,411,600
CREDITORS
Amounts falling due within one year 7 483,263 431,354
NET CURRENT ASSETS 2,451,497 1,980,246
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,536,225

2,073,689

PROVISIONS FOR LIABILITIES 20,025 17,147
NET ASSETS 2,516,200 2,056,542

CAPITAL AND RESERVES
Called up share capital 567 617
Share premium 10,980 10,980
Capital redemption reserve 1,721 1,671
Retained earnings 2,502,932 2,043,274
SHAREHOLDERS' FUNDS 2,516,200 2,056,542

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.

Boswell Mitchell & Johnston Limited (Registered number: SC258273)

Statement of Financial Position - 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2025 and were signed on its behalf by:





S M Scott - Director


Boswell Mitchell & Johnston Limited (Registered number: SC258273)

Notes to the Financial Statements
For The Year Ended 31 December 2024

1. STATUTORY INFORMATION

Boswell Mitchell & Johnston 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover & revenue recognition
Turnover represents net invoiced sales of services, excluding value added tax, and accrued income which is recognised as the right to a consideration arises (measured at fair value of the right to consideration). Included in debtors as prepayments & accrued income are amounts in respect of income that has been recognised but not billed by the end of the year.

Goodwill
Goodwill of £380,000 was paid in connection with the acquisition of a business in 2005, and is being amortised evenly over its estimated useful life of twenty years. At the balance sheet date this has been fully written off.

Goodwill of £13,000 was paid in connection with the acquisition of a business in 2010, and is being amortised evenly over its estimated useful life of five years. At the balance sheet date this has been fully written off.

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 etc - 33% on reducing balance, 20% on reducing balance and over the period of lease

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.


Boswell Mitchell & Johnston Limited (Registered number: SC258273)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 30 (2023 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 393,000
AMORTISATION
At 1 January 2024 374,000
Charge for year 19,000
At 31 December 2024 393,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 19,000

Boswell Mitchell & Johnston Limited (Registered number: SC258273)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 892,910
Additions 40,634
At 31 December 2024 933,544
DEPRECIATION
At 1 January 2024 818,467
Charge for year 30,349
At 31 December 2024 848,816
NET BOOK VALUE
At 31 December 2024 84,728
At 31 December 2023 74,443

The directors have elected to depreciate the improvements to leasehold property over the term of the lease agreement.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,000,190 617,732
Other debtors 365,330 286,154
1,365,520 903,886

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12,765 36,440
Taxation and social security 397,064 320,874
Other creditors 73,434 74,040
483,263 431,354

Boswell Mitchell & Johnston Limited (Registered number: SC258273)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 101,662 100,415
Between one and five years 286,563 389,472
388,225 489,887

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
B Sasan
Balance outstanding at start of year 3,334 10,000
Amounts repaid (3,334 ) (6,666 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 3,334

Directors' loans are interest free and repayable on demand.