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REGISTERED NUMBER: SC122422 (Scotland)












Financial Statements

for the Year Ended 30 September 2024

for

J R Pearson (Glasgow) Limited

J R Pearson (Glasgow) Limited (Registered number: SC122422)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J R Pearson (Glasgow) Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: M Sutkowski
Ms P Sutkowska





REGISTERED OFFICE: Lomond Coldstore
Blackstoun Road
Renfrewshire
PA3 3AF





REGISTERED NUMBER: SC122422 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

J R Pearson (Glasgow) Limited (Registered number: SC122422)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 3 257,799 246,473

CURRENT ASSETS
Inventories 279,999 205,557
Debtors 4 699,501 399,676
Cash at bank and in hand 36,846 33,360
1,016,346 638,593
CREDITORS
Amounts falling due within one year 5 597,358 390,631
NET CURRENT ASSETS 418,988 247,962
TOTAL ASSETS LESS CURRENT
LIABILITIES

676,787

494,435

CREDITORS
Amounts falling due after more than one year 6 (137,737 ) -

PROVISIONS FOR LIABILITIES (3,379 ) (418 )
NET ASSETS 535,671 494,017

CAPITAL AND RESERVES
Called up share capital 7 45,200 45,200
Revaluation reserve 8 275,481 275,481
Retained earnings 214,990 173,336
SHAREHOLDERS' FUNDS 535,671 494,017

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

J R Pearson (Glasgow) Limited (Registered number: SC122422)

Balance Sheet - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 June 2025 and were signed on its behalf by:





M Sutkowski - Director


J R Pearson (Glasgow) Limited (Registered number: SC122422)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. 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 as modified by the revaluation of certain assets.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover is recognised at the fair value of the consideration received or receivable for goods and services in providing the sale of wholesale butchery products, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts,settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 2% on cost
Plant and machinery - 15% on reducing balance

Inventories
Inventories 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.

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.

J R Pearson (Glasgow) Limited (Registered number: SC122422)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

1. ACCOUNTING POLICIES - continued

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
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 2 ) .

3. PROPERTY, PLANT AND EQUIPMENT
Improvements
Freehold to Plant and
property property machinery Totals
£    £    £    £   
COST OR VALUATION
At 1 October 2023 360,000 - 121,735 481,735
Additions - 12,256 7,750 20,006
At 30 September 2024 360,000 12,256 129,485 501,741
DEPRECIATION
At 1 October 2023 115,200 - 120,062 235,262
Charge for year 7,200 163 1,317 8,680
At 30 September 2024 122,400 163 121,379 243,942
NET BOOK VALUE
At 30 September 2024 237,600 12,093 8,106 257,799
At 30 September 2023 244,800 - 1,673 246,473

Cost or valuation at 30 September 2024 is represented by:

Improvements
Freehold to Plant and
property property machinery Totals
£    £    £    £   
Valuation in 2008 360,000 - - 360,000
Cost - 12,256 129,485 141,741
360,000 12,256 129,485 501,741

J R Pearson (Glasgow) Limited (Registered number: SC122422)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. PROPERTY, PLANT AND EQUIPMENT - continued

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 123,702 123,702
Aggregate depreciation 66,175 66,175

Freehold property was valued on an open market basis basis on 7 January 2008 by D M Hall, Chartered Surveyors .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 667,238 384,516
Other debtors 32,263 15,160
699,501 399,676

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,398 -
Trade creditors 531,588 382,609
Taxation and social security 46,533 5,610
Other creditors 7,839 2,412
597,358 390,631

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 137,737 -

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
45,200 Ordinary shares £1 45,200 45,200

J R Pearson (Glasgow) Limited (Registered number: SC122422)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. RESERVES
Revaluation
reserve
£   
At 1 October 2023
and 30 September 2024 275,481