IRIS Accounts Production v25.1.4.42 SC049515 Board of Directors 1.10.23 30.9.24 30.9.24 true false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC0495152023-09-30SC0495152024-09-30SC0495152023-10-012024-09-30SC0495152022-09-30SC0495152022-10-012023-09-30SC0495152023-09-30SC049515ns15:Scotland2023-10-012024-09-30SC049515ns14:PoundSterling2023-10-012024-09-30SC049515ns10:Director12023-10-012024-09-30SC049515ns10:PrivateLimitedCompanyLtd2023-10-012024-09-30SC049515ns10:SmallEntities2023-10-012024-09-30SC049515ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-30SC049515ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-30SC049515ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-30SC049515ns10:FullAccounts2023-10-012024-09-30SC049515ns10:Director22023-10-012024-09-30SC049515ns10:Director32023-10-012024-09-30SC049515ns10:CompanySecretary12023-10-012024-09-30SC049515ns10:RegisteredOffice2023-10-012024-09-30SC049515ns5:CurrentFinancialInstruments2024-09-30SC049515ns5:CurrentFinancialInstruments2023-09-30SC049515ns5:Non-currentFinancialInstruments2024-09-30SC049515ns5:Non-currentFinancialInstruments2023-09-30SC049515ns5:ShareCapital2024-09-30SC049515ns5:ShareCapital2023-09-30SC049515ns5:FurtherSpecificReserve3ComponentTotalEquity2024-09-30SC049515ns5:FurtherSpecificReserve3ComponentTotalEquity2023-09-30SC049515ns5:RetainedEarningsAccumulatedLosses2024-09-30SC049515ns5:RetainedEarningsAccumulatedLosses2023-09-30SC049515ns5:LandBuildings2023-10-012024-09-30SC049515ns5:PlantMachinery2023-10-012024-09-30SC049515ns5:LandBuildings2023-09-30SC049515ns5:PlantMachinery2023-09-30SC049515ns5:LandBuildings2024-09-30SC049515ns5:PlantMachinery2024-09-30SC049515ns5:LandBuildings2023-09-30SC049515ns5:PlantMachinery2023-09-30SC049515ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-09-30SC049515ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-10-012024-09-30SC049515ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-09-30SC049515ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-09-30SC049515ns5:CostValuation2023-09-30SC049515ns5:RevaluationsIncreaseDecreaseInInvestments2024-09-30SC049515ns5:CostValuation2024-09-30SC049515ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-30SC049515ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-30SC049515ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-09-30SC049515ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-09-30SC049515ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-09-30SC049515ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-09-30SC049515ns5:HirePurchaseContracts2024-09-30SC049515ns5:HirePurchaseContracts2023-09-30SC049515ns5:Secured2024-09-30SC049515ns5:Secured2023-09-30SC049515ns5:FurtherSpecificReserve3ComponentTotalEquity2023-09-30
REGISTERED NUMBER: SC049515 (Scotland)
















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Bernard Corrigan Limited

Bernard Corrigan Limited (Registered number: SC049515)






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


Bernard Corrigan Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: B G Corrigan
S Corrigan
S P Corrigan





SECRETARY: B G Corrigan





REGISTERED OFFICE: 1 Keppochhill Place
Glasgow
G21 1HS





REGISTERED NUMBER: SC049515 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Bernard Corrigan Limited (Registered number: SC049515)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,152,621 477,191
Investments 5 62,054 59,119
1,214,675 536,310

CURRENT ASSETS
Stocks 161,329 119,595
Debtors 6 865,104 1,059,795
Cash at bank and in hand 459,165 191,679
1,485,598 1,371,069
CREDITORS
Amounts falling due within one year 7 (1,189,056 ) (1,075,430 )
NET CURRENT ASSETS 296,542 295,639
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,511,217

831,949

CREDITORS
Amounts falling due after more than one
year

8

(943,936

)

(267,077

)

PROVISIONS FOR LIABILITIES (88,523 ) (112,309 )
NET ASSETS 478,758 452,563

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 11 (4,737 ) (7,672 )
Retained earnings 482,495 459,235
SHAREHOLDERS' FUNDS 478,758 452,563

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.

Bernard Corrigan Limited (Registered number: SC049515)

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 19 June 2025 and were signed on its behalf by:





B G Corrigan - Director


Bernard Corrigan Limited (Registered number: SC049515)

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

1. STATUTORY INFORMATION

Bernard Corrigan 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors
Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents
Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet bank overdrafts are shown in creditors amounts falling due within one year.

Creditors
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

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.


Bernard Corrigan Limited (Registered number: SC049515)

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

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts are capitalised in the balance sheet, and are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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.

Investments
Listed investments are held at fair value.

Operating leases
Rentals applicable to operating leases where substantially all the benefits and risk of ownership remain with the lessor are charged to the profit and loss as they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 34 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 - 845,212 845,212
Additions 791,717 4,875 796,592
At 30 September 2024 791,717 850,087 1,641,804
DEPRECIATION
At 1 October 2023 - 368,021 368,021
Charge for year 15,834 105,328 121,162
At 30 September 2024 15,834 473,349 489,183
NET BOOK VALUE
At 30 September 2024 775,883 376,738 1,152,621
At 30 September 2023 - 477,191 477,191

Bernard Corrigan Limited (Registered number: SC049515)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 177,340
DEPRECIATION
At 1 October 2023 49,875
Charge for year 31,866
At 30 September 2024 81,741
NET BOOK VALUE
At 30 September 2024 95,599
At 30 September 2023 127,465

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 October 2023 46,922 12,197 59,119
Revaluations - 2,935 2,935
At 30 September 2024 46,922 15,132 62,054
NET BOOK VALUE
At 30 September 2024 46,922 15,132 62,054
At 30 September 2023 46,922 12,197 59,119

Other investments have a historical cost of £19,869 (2023: £19,869).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 788,505 897,260
Other debtors 76,599 162,535
865,104 1,059,795

Bernard Corrigan Limited (Registered number: SC049515)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 145,226 133,333
Hire purchase contracts (see note 9) 31,977 30,255
Trade creditors 569,089 606,111
Amounts owed to group undertakings 25,351 20,363
Taxation and social security 174,889 91,595
Other creditors 242,524 193,773
1,189,056 1,075,430

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 877,525 168,689
Hire purchase contracts (see note 9) 66,411 98,388
943,936 267,077

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 759,836 -

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
30.9.24 30.9.23
£    £   
Net obligations repayable:
Within one year 31,977 30,255
Between one and five years 66,411 98,388
98,388 128,643

At the year end the company had £202,700 (2023: £22,250) outstanding on non cancellable operating leases.

Bernard Corrigan Limited (Registered number: SC049515)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 1,022,751 302,022
Hire purchase contracts 98,388 128,643
1,121,139 430,665

The loan is secured by floating charge over the company assets.

Hire purchase contracts are secured over the asset to which they relate.

11. RESERVES
Fair
value
reserve
£   
At 1 October 2023 (7,672 )
Fair value 2,935

At 30 September 2024 (4,737 )