IRIS Accounts Production v25.1.3.33 SC234395 director 1.11.23 31.10.24 31.10.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2343952023-10-31SC2343952024-10-31SC2343952023-11-012024-10-31SC2343952022-10-31SC2343952022-11-012023-10-31SC2343952023-10-31SC234395ns15:Scotland2023-11-012024-10-31SC234395ns14:PoundSterling2023-11-012024-10-31SC234395ns10:Director12023-11-012024-10-31SC234395ns10:PrivateLimitedCompanyLtd2023-11-012024-10-31SC234395ns10:SmallEntities2023-11-012024-10-31SC234395ns10:AuditExemptWithAccountantsReport2023-11-012024-10-31SC234395ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-31SC234395ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-31SC234395ns10:FullAccounts2023-11-012024-10-31SC234395ns10:CompanySecretary12023-11-012024-10-31SC234395ns10:RegisteredOffice2023-11-012024-10-31SC234395ns5:CurrentFinancialInstruments2024-10-31SC234395ns5:CurrentFinancialInstruments2023-10-31SC234395ns5:ShareCapital2024-10-31SC234395ns5:ShareCapital2023-10-31SC234395ns5:RetainedEarningsAccumulatedLosses2024-10-31SC234395ns5:RetainedEarningsAccumulatedLosses2023-10-31SC234395ns5:PlantMachinery2023-11-012024-10-31SC234395ns5:FurnitureFittings2023-11-012024-10-31SC234395ns5:MotorVehicles2023-11-012024-10-31SC234395ns5:ComputerEquipment2023-11-012024-10-31SC234395ns5:PlantMachinery2023-10-31SC234395ns5:FurnitureFittings2023-10-31SC234395ns5:MotorVehicles2023-10-31SC234395ns5:ComputerEquipment2023-10-31SC234395ns5:PlantMachinery2024-10-31SC234395ns5:FurnitureFittings2024-10-31SC234395ns5:MotorVehicles2024-10-31SC234395ns5:ComputerEquipment2024-10-31SC234395ns5:PlantMachinery2023-10-31SC234395ns5:FurnitureFittings2023-10-31SC234395ns5:MotorVehicles2023-10-31SC234395ns5:ComputerEquipment2023-10-31SC234395ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-31SC234395ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-31SC234395ns5:DeferredTaxation2023-10-31SC234395ns5:DeferredTaxation2024-10-31
REGISTERED NUMBER: SC234395 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

A.J. Rennie Limited

A.J. Rennie Limited (Registered number: SC234395)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 7

A.J. Rennie Limited

Company Information
for the Year Ended 31 October 2024







DIRECTOR: A J Rennie





SECRETARY: Mrs F M Ewen





REGISTERED OFFICE: Inverboyndie Industrial Estate
BANFF
AB45 2JJ





REGISTERED NUMBER: SC234395 (Scotland)





ACCOUNTANTS: Atholl Scott
16 Castle Street
BANFF
AB45 1DL

A.J. Rennie Limited (Registered number: SC234395)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 387,234 487,989

CURRENT ASSETS
Stocks 989,415 920,558
Debtors 5 2,771,777 2,325,157
Cash at bank 68,096 42,790
3,829,288 3,288,505
CREDITORS
Amounts falling due within one
year

6

(1,017,910

)

(573,840

)
NET CURRENT ASSETS 2,811,378 2,714,665
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,198,612

3,202,654

PROVISIONS FOR LIABILITIES 8 (96,483 ) (121,615 )
NET ASSETS 3,102,129 3,081,039

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 3,102,127 3,081,037
SHAREHOLDERS' FUNDS 3,102,129 3,081,039

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 May 2025 and were signed by:



A J Rennie - Director


A.J. Rennie Limited (Registered number: SC234395)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

A.J. Rennie 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.

Turnover
Turnover represents amounts receivable for goods sold and services rendered during the year, exclusive of value added tax.

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 - 15% on reducing balance
Solar PV system - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 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
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 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 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.

A.J. Rennie Limited (Registered number: SC234395)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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.

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 35 (2023 - 42 ) .

4. TANGIBLE FIXED ASSETS
Plant and Solar PV Motor
machinery system vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 489,645 13,379 1,568,156 32,567 2,103,747
Additions 7,000 - - - 7,000
Disposals (5,000 ) - - - (5,000 )
At 31 October 2024 491,645 13,379 1,568,156 32,567 2,105,747
DEPRECIATION
At 1 November 2023 351,163 9,090 1,233,151 22,354 1,615,758
Charge for year 21,827 643 83,754 1,531 107,755
Eliminated on disposal (5,000 ) - - - (5,000 )
At 31 October 2024 367,990 9,733 1,316,905 23,885 1,718,513
NET BOOK VALUE
At 31 October 2024 123,655 3,646 251,251 8,682 387,234
At 31 October 2023 138,482 4,289 335,005 10,213 487,989

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 2,421,904 1,973,444
Other debtors 32,000 32,000
Loan 297,000 300,000
Prepayments 20,873 19,713
2,771,777 2,325,157

A.J. Rennie Limited (Registered number: SC234395)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 571,998 281,518
Tax 39,271 30,469
PAYE 39,823 22,728
VAT 38,961 82,346
Director's loan account 198,284 25,772
Deferred income 30,000 20,000
Accrued expenses 99,573 111,007
1,017,910 573,840

7. SECURED DEBTS

Lloyds TSB Scotland plc hold a Bond and Floating Charge in respect of all sums and obligations due, or becoming due by the company.

8. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax 96,483 121,615

Deferred
tax
£   
Balance at 1 November 2023 121,615
Accelerated capital allowances (25,132 )
Balance at 31 October 2024 96,483

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £25,000 (2023 - £25,000) were paid to the director .

A.J. Rennie Limited (Registered number: SC234395)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

9. RELATED PARTY DISCLOSURES - continued

The company is related to the following undertakings due to the directorship of A J Rennie:

Bridgend Developments Limited
Ladysbridge Village Limited
Whitehills Development Co. Ltd

During the year, A.J. Rennie Limited provided goods and services in the sum of £2,383 to Bridgend Developments Limited, £683,524 to Ladysbridge Village Limited. There were no invoices issued to Whitehills Development Co. Ltd during the year.
The outstanding balances due to A.J. Rennie Limited as at 31 October 2024 were £42,559 due from Bridgend Developments Limited (2023 - £40,176), £543,116 due from Ladysbridge Village Limited (2023 - £445,230) and Nil due from Whitehills Development Co. Ltd (2023 - Nil).

The business premises at Inverboyndie, Banff which is used by A.J. Rennie Limited is owned by A J Rennie (Director).
No rent is paid for the use of this property.

During the year A J Rennie (Director) increased the amount loaned to the company by £172,736 leaving a balance of £198,508 (2023 £25,772). This loan is unsecured, interest free and repayable on demand.

The loan outstanding from A J. Rennie Limited to Ladysbridge Village Limited as at 31 October 2024 was £297,000 (2023 - £300,000). There are no set terms for repayment albeit interest is payable on the unpaid sum at the Bank base rate plus 5% with a minimum charge of 10% per annum, calculated yearly, not in advance..
Interest will be paid in quarterly instalments, paid out equally at the same time.

10. ULTIMATE CONTROLLING PARTY

A J Rennie is the ultimate controlling party by virtue of his 100% shareholding in the company.

A.J. Rennie Limited

Report of the Accountants to the Director of
A.J. Rennie Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 October 2024 set out on pages two to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

This report is made solely to the Board of Directors of the company, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Board of Directors of the company, as a body, in this report in accordance with the requirements of the Institute of Financial Accountants. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities and financial position of the company. You consider that the company 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 the company. 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.






Atholl Scott
16 Castle Street
BANFF
AB45 1DL


21 May 2025