IRIS Accounts Production v25.1.3.33 SC025896 Board of Directors 1.11.23 31.10.24 31.10.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC0258962023-10-31SC0258962024-10-31SC0258962023-11-012024-10-31SC0258962022-10-31SC0258962022-11-012023-10-31SC0258962023-10-31SC025896ns14:PoundSterling2023-11-012024-10-31SC025896ns10:Director12023-11-012024-10-31SC025896ns10:PrivateLimitedCompanyLtd2023-11-012024-10-31SC025896ns10:SmallEntities2023-11-012024-10-31SC025896ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-31SC025896ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-31SC025896ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-31SC025896ns10:FullAccounts2023-11-012024-10-31SC025896ns5:CurrentFinancialInstruments2024-10-31SC025896ns5:CurrentFinancialInstruments2023-10-31SC025896ns5:Non-currentFinancialInstruments2024-10-31SC025896ns5:Non-currentFinancialInstruments2023-10-31SC025896ns5:ShareCapital2024-10-31SC025896ns5:ShareCapital2023-10-31SC025896ns5:RetainedEarningsAccumulatedLosses2024-10-31SC025896ns5:RetainedEarningsAccumulatedLosses2023-10-31SC025896ns5:PlantMachinery2023-11-012024-10-31SC025896ns5:PlantMachinery2023-10-31SC025896ns5:PlantMachinery2024-10-31SC025896ns5:PlantMachinery2023-10-31SC025896ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-31SC025896ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-31
REGISTERED NUMBER: SC025896















NAPIER & CRAIG LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024






NAPIER & CRAIG LIMITED (REGISTERED NUMBER: SC025896)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


NAPIER & CRAIG LIMITED (REGISTERED NUMBER: SC025896)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 222 280

CURRENT ASSETS
Stocks 169,496 174,066
Debtors 5 4,021 5,650
Cash at bank and in hand 27,301 33,238
200,818 212,954
CREDITORS
Amounts falling due within one year 6 98,793 107,235
NET CURRENT ASSETS 102,025 105,719
TOTAL ASSETS LESS CURRENT
LIABILITIES

102,247

105,999

CREDITORS
Amounts falling due after more than one year 7 (5,417 ) (10,417 )

PROVISIONS FOR LIABILITIES (42 ) (53 )
NET ASSETS 96,788 95,529

CAPITAL AND RESERVES
Called up share capital 8,000 8,000
Retained earnings 88,788 87,529
SHAREHOLDERS' FUNDS 96,788 95,529

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 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.

NAPIER & CRAIG LIMITED (REGISTERED NUMBER: SC025896)

BALANCE SHEET - continued
31 OCTOBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by:





R L Dunlop - Director


NAPIER & CRAIG LIMITED (REGISTERED NUMBER: SC025896)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Napier & Craig Limited is a private company, limited by shares, registered in Scotland. The registered office is Dobbies Court, 88 Clark Street, Paisley, PA3 1RB.

The financial statements are presented in Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from this standard. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax. The company's policy is to recognise a sale when substantially all the risks and rewards in connection with the goods have been passed to the buyer.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements.

The directors consider there are no such significant judgements.

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.
Plant and machinery etc - 33% on reducing balance and 20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell.

NAPIER & CRAIG LIMITED (REGISTERED NUMBER: SC025896)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and loans from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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

Taxation
Taxation represents the sum of tax currently payable and deferred tax. 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.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

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

NAPIER & CRAIG LIMITED (REGISTERED NUMBER: SC025896)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023
and 31 October 2024 8,402
DEPRECIATION
At 1 November 2023 8,122
Charge for year 58
At 31 October 2024 8,180
NET BOOK VALUE
At 31 October 2024 222
At 31 October 2023 280

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,629 5,650
Other debtors 392 -
4,021 5,650

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 5,000
Trade creditors 141 6,787
Taxation and social security 5,270 6,882
Other creditors 88,382 88,566
98,793 107,235

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 5,417 10,417

8. LEASING AGREEMENTS
At the balance sheet date, the minimum lease payments under non-cancellable operating leases were £500 (2023: £900).

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the amount due to directors amounted to £84,892 (2023: £85,205). The amount is included in creditors and is interest free, unsecured and repayable on demand.