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Registration number: SC102988

Guthrie & Robertson (Builders) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Guthrie & Robertson (Builders) Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 11

 

Guthrie & Robertson (Builders) Limited

Company Information

Directors

Mr David D Robertson

Mr Tom Guthrie

Registered office

6 Atholl Crescent
PERTH
PH1 5JN

Accountants

Morris & Young
Chartered Accountants
6 Atholl Crescent
PERTH
PH1 5JN

 

Guthrie & Robertson (Builders) Limited

(Registration number: SC102988)
Statement of Financial Position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

1,301

1,626

Investment property

4

2,563,124

2,620,399

 

2,564,425

2,622,025

Current assets

 

Debtors

5

143,086

169,304

Cash at bank and in hand

 

70,367

64,155

 

213,453

233,459

Creditors: Amounts falling due within one year

6

(68,562)

(73,131)

Net current assets

 

144,891

160,328

Total assets less current liabilities

 

2,709,316

2,782,353

Creditors: Amounts falling due after more than one year

6

(114,583)

(189,583)

Provisions for liabilities

(167,551)

(262,912)

Net assets

 

2,427,182

2,329,858

Capital and reserves

 

Called up share capital

7

10,000

10,000

Revaluation reserve

911,119

788,736

Retained earnings

1,506,063

1,531,122

Shareholders' funds

 

2,427,182

2,329,858

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Guthrie & Robertson (Builders) Limited

(Registration number: SC102988)
Statement of Financial Position as at 31 March 2025

Approved and authorised by the Board on 6 August 2025 and signed on its behalf by:
 

.........................................
Mr David D Robertson
Director

.........................................
Mr Tom Guthrie
Director

 

Guthrie & Robertson (Builders) Limited

Statement of Changes in Equity for the Year Ended 31 March 2025

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 April 2024

10,000

788,736

1,531,122

2,329,858

Profit for the year

-

-

101,963

101,963

Other comprehensive income

-

95,361

-

95,361

Total comprehensive income

-

95,361

101,963

197,324

Dividends

-

-

(100,000)

(100,000)

Transfers

-

27,022

(27,022)

-

At 31 March 2025

10,000

911,119

1,506,063

2,427,182

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 March 2023

10,000

788,736

1,576,327

2,375,063

Profit for the year

-

-

54,795

54,795

Dividends

-

-

(100,000)

(100,000)

At 31 March 2024

10,000

788,736

1,531,122

2,329,858

 

Guthrie & Robertson (Builders) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
6 Atholl Crescent
PERTH
PH1 5JN

The principal place of business is:
The Laigh
Laggan
CRIEFF
Perthshire
PH7 4JL

These financial statements were authorised for issue by the Board on 6 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Details of the transition to FRS 102 are detailed at note 11.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Guthrie & Robertson (Builders) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Fixtures, fittings and equipment

20% reducing balance

Motor vehicles

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable property. Using observable market prices adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

No depreciation is provided in respect of investment properties. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Guthrie & Robertson (Builders) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

 

Guthrie & Robertson (Builders) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Investment properties

2025
£

At 1 April

2,620,399

Additions

-

Disposals

(57,275)

At 31 March

2,563,124

The investment properties, with the exception of the two Edinburgh properties, were revalued in December 2019 by Jim McIntyre BSC, MRICS, who is external to the company. The basis of this valuation was a drive past type inspection with the assumption that the properties were in good condition. The valuations also assume the properties will be sold individually and not as a portfolio. The two Edinburgh properties were revalued in December 2020 by the Directors after taking advise from local property agents and surveyors. Investment properties have a current value of £2,563,124 (2024 - £2,620,399) and a carrying amount at historical cost of £1,484,454 (2024 - £1,541,729). The depreciation on the historical cost is £nil (2023 - £nil).

5

Debtors

Current

2025
£

2024
£

Other debtors

143,086

169,304

 

143,086

169,304

 

Guthrie & Robertson (Builders) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

25,000

25,000

Trade creditors

 

1,168

8,675

Taxation and social security

 

27,894

18,156

Accruals and deferred income

 

2,500

2,500

Other creditors

 

12,000

18,800

 

68,562

73,131

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

114,583

189,583

 

Guthrie & Robertson (Builders) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

10,000

10,000

10,000

10,000

       

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

114,583

189,583

Current loans and borrowings

2025
£

2024
£

Bank borrowings

25,000

25,000

Bank borrowings

Handelsbanken loan is denominated in GBP with a nominal interest rate of 7.5%, and the final instalment is due on 20 October 2027. The carrying amount at year end is £139,583 (2024 - £214,583).

Handelsbanken has a first standard security over the properties acquired and a bond and floating charge over the company's assets and undertaking.

 

Guthrie & Robertson (Builders) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9

Related party transactions

Summary of transactions with other related parties

A partnership of which the directors are partners
 

Loans to related parties

2025

Other related parties
£

Total
£

At start of period

166,541

166,541

Advanced

111,463

111,463

Repaid

(137,682)

(137,682)

At end of period

140,322

140,322

2024

Other related parties
£

Total
£

At start of period

191,583

191,583

Advanced

136,079

136,079

Repaid

(161,121)

(161,121)

At end of period

166,541

166,541