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OWEN BUCHANAN BUILDERS LIMITED

Registered Number
SC233397
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2024

OWEN BUCHANAN BUILDERS LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

Ian Fleming
Mark Kinnell

Registered Address

Unit 4, Lochgelly Business Park
Auchterderran Road
Lochgelly
KY5 9HF

Registered Number

SC233397 (Scotland)
OWEN BUCHANAN BUILDERS LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets44,39916,027
4,39916,027
Current assets
Debtors56684,494
Cash at bank and on hand6363,063
1,3047,557
Creditors amounts falling due within one year6(99,488)(101,147)
Net current assets (liabilities)(98,184)(93,590)
Total assets less current liabilities(93,785)(77,563)
Creditors amounts falling due after one year7(4,993)(14,996)
Provisions for liabilities(836)(3,046)
Net assets(99,614)(95,605)
Capital and reserves
Called up share capital1,0001,000
Profit and loss account(100,614)(96,605)
Shareholders' funds(99,614)(95,605)
The financial statements were approved and authorised for issue by the Board of Directors on 17 July 2025, and are signed on its behalf by:
Ian Fleming
Director
Mark Kinnell
Director

Registered Company No. SC233397
OWEN BUCHANAN BUILDERS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The financial statements have been prepared on the going concern basis. The directors find it appropriate for the financial statements to be prepared on this basis despite the net liability position of the company. The company is reliant upon the continued support of the directors who have confirmed they will continue to support the company as required.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee 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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery10
Fixtures and fittings33
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
2.Average number of employees

20242023
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 24300,000300,000
At 31 December 24300,000300,000
Amortisation and impairment
At 01 January 24300,000300,000
At 31 December 24300,000300,000
Net book value
At 31 December 24--
At 31 December 23--
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Total

££££
Cost or valuation
At 01 January 2438,59728,2472,98169,825
Disposals-(18,500)-(18,500)
At 31 December 2438,5979,7472,98151,325
Depreciation and impairment
At 01 January 2438,59713,2181,98353,798
Charge for year-3,3733293,702
On disposals-(10,574)-(10,574)
At 31 December 2438,5976,0172,31246,926
Net book value
At 31 December 24-3,7306694,399
At 31 December 23-15,02999816,027
5.Debtors: amounts due within one year

2024

2023

££
Other debtors6523,093
Prepayments and accrued income161,401
Total6684,494
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables47-
Bank borrowings and overdrafts10,00010,000
Taxation and social security3,302662
Other creditors84,98489,434
Accrued liabilities and deferred income1,1551,051
Total99,488101,147
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts4,99314,996
Total4,99314,996