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REGISTERED NUMBER: SC033475 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Basil Baird and Sons Limited

Basil Baird and Sons Limited (Registered number: SC033475)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Basil Baird and Sons Limited (Registered number: SC033475)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,442,964 1,565,623
Investments 5 1 1
1,442,965 1,565,624

CURRENT ASSETS
Stocks 24,639 23,552
Debtors 6 748,210 552,978
Cash at bank and in hand 4,514 33,428
777,363 609,958
CREDITORS
Amounts falling due within one year 7 (871,024 ) (661,680 )
NET CURRENT LIABILITIES (93,661 ) (51,722 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,349,304

1,513,902

CREDITORS
Amounts falling due after more than one
year

8

(369,552

)

(457,360

)

PROVISIONS FOR LIABILITIES (255,819 ) (232,632 )
NET ASSETS 723,933 823,910

CAPITAL AND RESERVES
Called up share capital 17,144 17,144
Share premium 25,825 25,825
Capital redemption reserve 4,572 4,572
Retained earnings 676,392 776,369
SHAREHOLDERS' FUNDS 723,933 823,910

Basil Baird and Sons Limited (Registered number: SC033475)

Balance Sheet - continued
31 October 2024


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.

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 28 May 2025 and were signed on its behalf by:





John Baird - Director


Basil Baird and Sons Limited (Registered number: SC033475)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Basil Baird and Sons Limited is a private company, limited by shares, domiciled in Scotland, registration number SC033475. The registered office is Nethershiel Farm, East Calder, Livingston, West Lothian, EH53 0HT.

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.

Turnover
The turnover shown in the profit and loss account represents amounts receivable during the year from haulage contracting and the sale of fuel and crops, exclusive of Value Added Tax. Turnover is recognised once the service is complete or the goods are delivered.

Tangible fixed assets and depreciation
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 - not provided
Plant and machinery etc - 25% on reducing balance, 20% on cost, 15% on cost and 15% on reducing balance

In accordance with the rules in relation to the transition to FRS 102, the company has taken the opportunity to treat the revalued cost per the revaluation of December 2008 as the original cost. The revaluation reserve has been transferred to the profit and loss reserve and there will no longer be regular revaluation of property.

Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil 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. Cost is represented by purchase price.

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.


Basil Baird and Sons Limited (Registered number: SC033475)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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 held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the payment is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Pension costs and other post-retirement benefits
The company operates a defined contribution scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 22 ).

Basil Baird and Sons Limited (Registered number: SC033475)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2023 291,255 2,869,523 3,160,778
Additions - 272,825 272,825
Disposals - (69,000 ) (69,000 )
At 31 October 2024 291,255 3,073,348 3,364,603
DEPRECIATION
At 1 November 2023 - 1,595,155 1,595,155
Charge for year - 354,765 354,765
Eliminated on disposal - (28,281 ) (28,281 )
At 31 October 2024 - 1,921,639 1,921,639
NET BOOK VALUE
At 31 October 2024 291,255 1,151,709 1,442,964
At 31 October 2023 291,255 1,274,368 1,565,623


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

Plant and
machinery
etc
£   
COST
At 1 November 2023 1,472,263
Additions 272,825
Disposals (69,000 )
Transfer to ownership (118,000 )
At 31 October 2024 1,558,088
DEPRECIATION
At 1 November 2023 572,405
Charge for year 245,287
Eliminated on disposal (28,281 )
Transfer to ownership (83,255 )
At 31 October 2024 706,156
NET BOOK VALUE
At 31 October 2024 851,932
At 31 October 2023 899,858

Basil Baird and Sons Limited (Registered number: SC033475)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2023
and 31 October 2024 1
NET BOOK VALUE
At 31 October 2024 1
At 31 October 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 710,138 392,832
Other debtors 38,072 160,146
748,210 552,978

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 180,585 10,648
Hire purchase contracts 271,873 294,604
Trade creditors 212,451 202,918
Taxation and social security 108,582 80,396
Other creditors 97,533 73,114
871,024 661,680

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 6,029 15,877
Hire purchase contracts 363,523 441,483
369,552 457,360

Basil Baird and Sons Limited (Registered number: SC033475)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Bank overdraft 169,937 -
Hire purchase contracts 635,396 736,087
805,333 736,087

The bank overdraft is secured by a bond and floating charge over the assets of the company and standard security over the farmhouse in East Calder.

Hire purchase agreements are secured on the assets to which they relate.