Company registration number SC618817 (Scotland)
G.M. Bruce of Ballater Ltd.
Unaudited financial statements
for the year ended 31 January 2025
Pages for filing with registrar
G.M. Bruce of Ballater Ltd.
Chartered Accountants' report to the director on the preparation of the
unaudited statutory financial statements of G.M. Bruce of Ballater Ltd.
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G.M. Bruce of Ballater Ltd. for the year ended 31 January 2025 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the board of directors of G.M. Bruce of Ballater Ltd., as a body, in accordance with the terms of our engagement letter dated 14 August 2019. Our work has been undertaken solely to prepare for your approval the financial statements of G.M. Bruce of Ballater Ltd. and state those matters that we have agreed to state to the board of directors of G.M. Bruce of Ballater Ltd., as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G.M. Bruce of Ballater Ltd. and its board of directors as a body, for our work or for this report.

It is your duty to ensure that G.M. Bruce of Ballater 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 G.M. Bruce of Ballater Ltd.. You consider that G.M. Bruce of Ballater 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 G.M. Bruce of Ballater 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.

James Milne
Chartered Accountants
5 High Street
Inverurie
AB51 3QA
21 May 2025
G.M. Bruce of Ballater Ltd.
Statement of financial position
as at 31 January 2025
31 January 2025
2
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
548
684
Current assets
Stocks
36,182
32,943
Cash at bank and in hand
17,554
19,042
53,736
51,985
Creditors: amounts falling due within one year
(57,584)
(57,613)
Net current liabilities
(3,848)
(5,628)
Net liabilities
(3,300)
(4,944)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(3,400)
(5,044)
Total equity
(3,300)
(4,944)

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

G.M. Bruce of Ballater Ltd.
Statement of financial position (continued)
as at 31 January 2025
31 January 2025
3
The financial statements were approved and signed by the director and authorised for issue on 19 May 2025
George M. Bruce
Director
Company registration number SC618817 (Scotland)
G.M. Bruce of Ballater Ltd.
Notes to the financial statements
for the year ended 31 January 2025
4
1
Accounting policies
Company information

G.M. Bruce of Ballater Ltd. is a private company limited by shares incorporated in Scotland. The registered office is The Old Picture House, 2 Queens Road, Ballater, Aberdeenshire, AB35 5NJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% reducing balance
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

G.M. Bruce of Ballater Ltd.
Notes to the financial statements (continued)
for the year ended 31 January 2025
1
Accounting policies (continued)
5
1.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
3
Tangible fixed assets
Total
£
Cost
At 1 February 2024 and 31 January 2025
2,085
Depreciation and impairment
At 1 February 2024
1,401
Depreciation charged in the year
136
At 31 January 2025
1,537
Carrying amount
At 31 January 2025
548
At 31 January 2024
684
4
Going concern

The statement of financial position shows that liabilities exceed assets by £3,300 including a liability of £55,934 due to the director. The director has confirmed that he will maintain his financial support for the foreseeable future to enable the company to continue normal trading operations. The financial statements are therefore drawn up on a going concern basis.

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