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REGISTERED NUMBER: SC546400 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

JAMES FERGUSON RIGGING LTD

JAMES FERGUSON RIGGING LTD (REGISTERED NUMBER: SC546400)






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


JAMES FERGUSON RIGGING LTD

COMPANY INFORMATION
for the Year Ended 30 September 2024







DIRECTOR: J C Ferguson





REGISTERED OFFICE: 9 Glasgow Road
Paisley
Renfrewshire
PA1 3QS





REGISTERED NUMBER: SC546400 (Scotland)





ACCOUNTANTS: John M Taylor & Co
Chartered Accountants
9 Glasgow Road
PAISLEY
Renfrewshire
PA1 3QS

JAMES FERGUSON RIGGING LTD (REGISTERED NUMBER: SC546400)

BALANCE SHEET
30 September 2024

30.9.23 30.9.24
£    £    Notes £   
FIXED ASSETS
168,339 Tangible assets 5 170,006

CURRENT ASSETS
143,440 Debtors 6 169,438
240,025 Cash at bank 229,889
383,465 399,327
CREDITORS
392,680 Amounts falling due within one year 7 415,921
(9,215 ) NET CURRENT LIABILITIES (16,594 )
159,124 TOTAL ASSETS LESS CURRENT
LIABILITIES

153,412

CREDITORS
(9,042 ) Amounts falling due after more than one year 8 -

(31,474 ) PROVISIONS FOR LIABILITIES 9 (34,579 )
118,608 NET ASSETS 118,833

CAPITAL AND RESERVES
100 Called up share capital 10 100
118,508 Retained earnings 11 118,733
118,608 SHAREHOLDERS' FUNDS 118,833

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 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.

JAMES FERGUSON RIGGING LTD (REGISTERED NUMBER: SC546400)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 June 2025 and were signed by:





J C Ferguson - Director


JAMES FERGUSON RIGGING LTD (REGISTERED NUMBER: SC546400)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

James Ferguson Rigging Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The significant policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents the total invoice value, less credit notes, excluding value added tax, of sales made in the period.

Revenue from the sale of goods is recognised when the significant risk and rewards of ownership of the goods have passed to the buyer usually on dispatch of the goods to the buyer. Revenue is measured at the fair value of consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts and value added tax.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant & machinery - 33% on cost and 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.


JAMES FERGUSON RIGGING LTD (REGISTERED NUMBER: SC546400)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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.

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
Basic financial instruments are recognised at amortised cost. Financial assets and liabilties are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised
when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

JAMES FERGUSON RIGGING LTD (REGISTERED NUMBER: SC546400)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant & and Motor Computer
Totals machinery fittings vehicles equipment
£    £    £    £    £   
COST
At 1 October 2023 465,066 328,099 458 133,595 2,914
Additions 38,211 35,046 - - 3,165
At 30 September 2024 503,277 363,145 458 133,595 6,079
DEPRECIATION
At 1 October 2023 296,727 223,161 458 71,720 1,388
Charge for year 36,544 21,083 - 14,875 586
At 30 September 2024 333,271 244,244 458 86,595 1,974
NET BOOK VALUE
At 30 September 2024 170,006 118,901 - 47,000 4,105
At 30 September 2023 168,339 104,938 - 61,875 1,526

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023 80,000
Transfer to ownership (39,000 )
At 30 September 2024 41,000
DEPRECIATION
At 1 October 2023 18,125
Charge for year 14,875
Transfer to ownership (22,750 )
At 30 September 2024 10,250
NET BOOK VALUE
At 30 September 2024 30,750
At 30 September 2023 61,875

JAMES FERGUSON RIGGING LTD (REGISTERED NUMBER: SC546400)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 160,071 133,085
Sundry debtors 4,210 4,210
Prepayments 5,157 6,145
169,438 143,440

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts 9,042 23,417
Trade creditors 11,113 13,113
Corporation Tax 13,112 5,652
Social security and other taxes 6,458 6,181
VAT 44,948 37,464
Other creditors 147,588 134,214
Pension provider 1,209 1,130
Directors' current accounts 163,888 153,466
Accrued expenses 18,563 18,043
415,921 392,680

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts - 9,042

9. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 34,579 31,474

Deferred
tax
£   
Balance at 1 October 2023 31,474
Provided during year 3,105
Balance at 30 September 2024 34,579

JAMES FERGUSON RIGGING LTD (REGISTERED NUMBER: SC546400)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 October 2023 118,508
Profit for the year 48,225
Dividends (48,000 )
At 30 September 2024 118,733

12. ULTIMATE CONTROLLING PARTY

J Ferguson and Mrs P Ferguson control the company, as a result of holding 100% of the issued share capital in the
company between them.