Company registration number SC152977 (Scotland)
GOUDIES FUNERAL DIRECTORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GOUDIES FUNERAL DIRECTORS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
GOUDIES FUNERAL DIRECTORS LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
218,465
235,339
Current assets
Stocks
30,766
15,180
Debtors
5
105,656
136,056
Cash at bank and in hand
362,939
286,907
499,361
438,143
Creditors: amounts falling due within one year
6
(52,631)
(81,293)
Net current assets
446,730
356,850
Total assets less current liabilities
665,195
592,189
Provisions for liabilities
(512)
(3,410)
Net assets
664,683
588,779
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
664,681
588,777
Total equity
664,683
588,779
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 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 members have 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.
GOUDIES FUNERAL DIRECTORS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 24 June 2025 and are signed on its behalf by:
J L GOUDIE
J L Goudie
Director
Company Registration No. SC152977
GOUDIES FUNERAL DIRECTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
Goudies Funeral Directors Limited is a private company limited by shares incorporated in Scotland. The registered office is Old Gilbert Bain, Scalloway Road, Lerwick, Shetland Isles, ZE1 0LD.
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.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.
1.4
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:
Land & buildings
50 years straight line
Plant and equipment
3-10 years straight line
Property Improvements
20 years straight line
Motor vehicles
4 years striaght line
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.6
Cash at bank and in hand
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.
1.7
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
GOUDIES FUNERAL DIRECTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Retirement benefits
The company operates a defined contribution plan for it's employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
8
GOUDIES FUNERAL DIRECTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
159,580
Amortisation and impairment
At 1 October 2023 and 30 September 2024
159,580
Carrying amount
At 30 September 2024
At 30 September 2023
4
Tangible fixed assets
Land & buildings
Plant and equipment
Property Improvements
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2023
331,399
33,816
28,532
267,559
661,306
Additions
953
953
Disposals
(114,955)
(114,955)
At 30 September 2024
331,399
33,816
29,485
152,604
547,304
Depreciation and impairment
At 1 October 2023
120,295
27,935
20,388
257,349
425,967
Depreciation charged in the year
6,628
1,898
551
8,750
17,827
Eliminated in respect of disposals
(114,955)
(114,955)
At 30 September 2024
126,923
29,833
20,939
151,144
328,839
Carrying amount
At 30 September 2024
204,476
3,983
8,546
1,460
218,465
At 30 September 2023
211,104
5,881
8,144
10,210
235,339
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
104,048
134,606
Other debtors
88
Prepayments and accrued income
1,520
1,450
105,656
136,056
GOUDIES FUNERAL DIRECTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
14,167
39,174
Corporation tax
26,064
28,615
Other taxation and social security
6,650
7,904
Accruals and deferred income
5,750
5,600
52,631
81,293